The one major issue upon which President Donald Trump and the Democrats agree (and are working diligently toward) is unlimited spending. Both parties have torn balance budget limit to shreds as they throw hundreds of billions of dollars around like soundbites. As a result, the respected Congressional Budget Office (CDO) is now projected that debt could reach 92 percent of the GDP within ten years. In other words, an economic meltdown caused by politicians who act like children in spending without any notion of how we will actually pay for these programs.
Pelosi and Trump are moving to add up to $2 trillion more to the decade in the next ten years.
In the meantime, presidential candidates are pledging everything from free college to new homes if they are elected.
What is most disturbing is that CBO released its projections and nobody cared. There was virtually no coverage and members of Congress and the White House are joined in avoiding the subject of our crippling, runaway debt.
The last thing that either Pelosi or Trump want to discuss are lines like this one: “If current laws generally remained unchanged, growing budget deficits would boost federal debt drastically over the next 30 years.” the nonpartisan Congressional Budget Office (CBO) warned in a June report.
Or how about this one? “Debt would reach 92 percent of GDP by the end of the next decade and 144 percent by 2049. That level of debt would be the highest in the nation’s history by far, and it would be on track to increase even more.” The fact is that both Trump and Pelosi will be out of office by then — celebrated by their hardcore constituencies. This will become a problem for someone else — and of course the country. The world itself will be impacted by a collapsing U.S. economy but again that could a decade away — an eternity for politicians who share narcissistic DNA.
Of course, as the impact of this debt takes hold, the very same members will express outrage and demand action. Trump is reportedly already telling staff that he intends to try to control the budget . . . in his second term.