by Mish Shedlock, Mish Talk:
In 1965 mandatory spending was 34 percent of the budget. In 2022 it was 71 percent of the budget.
‘If You Really Want To Understand How Much Trouble We’re In, Give Me A Few Minutes Of Your Time’ says Rep. David Schweikert (R-AZ).
TRUTH LIVES on at https://sgtreport.tv/
Ten Key Quotes
- If You Really Want To Understand How Much Trouble We’re In, Give Me A Few Minutes Of Your Time.
- Your government is just an insurance company with an army
- In the next 30 years, 100 percent of the deficit is Medicare and Social Security.
- The shortfall in Medicare is about 75% of all of our borrowing.
- In ten years, unless we fix Social Security, you are going to double the poverty of senior citizens.
- These are the things we are here to fix instead of the trite crap we come behind these microphones and talk about.
- Medicare for all is a financing bill. None of those health care bills change what we pay. They just move around who pays.
- Until the conversation changes about “what we pay” you can’t save us.
- Is this body ready to tell the truth about the math? Because the math will always win.
- We’re not telling the truth about the fragility of interest rates. Every dime is covering interest.
What Is Causing the Budget Deficit?
Interest on Debt
It’s a sobering video. Please give it a look.
Regarding point five, “In ten years, unless we fix Social Security, you are going to double the poverty of senior citizens,” expect massive tax increases or far more free money proposals that will drive up inflation rather than reduced payments.
What About Climate Change?
David Schweikert’s rant did not even cover the climate change debate.
Biden, AOC, Warren and others want to spend tens of trillions of dollars on climate change boondoggles.
Who’s supposed to pay for that? Taxing the wealthy won’t even begin to cover what Democrats have in mind.