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Name: MADDOG10
Location: Beautiful Florida
Country: United States
Interests: restoring old cars, winning the lottery, avid football fan, and riding my motorcycles... Both (Harleys)...!!

Tuesday, May 14, 2024

Great Job Biden. Thanks to you!

President Joe Biden speaks about his Investing in America agenda in Sturtevant, Wis., on May 8, 2024.
President Joe Biden speaks about his Investing in America agenda in Sturtevant, Wis., on May 8, 2024.© MANDEL NGAN, AFP via Getty Images

If you or I decided to go wild with our credit cards and didn’t pay off those balances regularly, we would see what we owe expand rapidly as high interest rates make the debt increasingly hard to manage. 

There’s a price to pay for unwise financial decisions. Most of us understand the economic consequences of living beyond our means. 

Except for President Joe Biden and the federal government, that is.

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The national debt is already at $34 trillion and is quickly hurtling toward $35 trillion (it was roughly $27 trillion  when Biden took office). 

You may not care, but you should. 

The costs of carrying such a significant debt are putting pressure on other spending priorities as interest alone takes up a higher percentage of the government’s budget. In fact, interest payments are the fastest-growing segment of the budget.

The U.S. just hit a new “milestone”: In the first seven months of the current fiscal year, payments on interest have cost taxpayers more than defense and Medicare spending. Only Social Security eats a higher percentage of the budget – for now. In less than 30 years, interest on the debt will likely become our largest expenditure.


jarasan said...

The only thing he is good at is f'ing things up, unless there is something in it for him. FJB, wish they would just get it over with and tell who is going to take his place. Maybe big mike? Stretchen gretchen, newsum, pritzker, hilde beast!!!!!!!!!

5:14 PM
grwurston said...

Today Biden made a speech announcing 25%, 50%, and 100% tariffs on different things that China produces because they are undercutting US prices. I seem to recall dems crying like babies when Trump put tariffs on China.
Here's the speech.

5:43 PM
MADDOG10 said...

@grwurston. Yup they cried just like babies, every one of them!

7:00 PM
jarasan said...

They cry like little bitches.

7:01 PM
sully16 said...

well just found out illegals make up 15 % of the population and more than half are unemployed, guess who is feeding them,  housing them, paying medical expenses, buying clothes, paying for cell phones, yep we are, we are going a trillion in debt every 10 days.

8:31 PM
grwurston said...

And there people that want 4 more years of it. Heaven help us.

12:12 AM
CDanaT said...

The above attached link shows a graph from the Bureau of Labor stats via the St Louis Reserve.....Wanna bet if any of the 3 Nambla sisters have any factual Data to offset that ?
Thanks Joe, thanks for the policies/spending to keep inflation above 3% and thanks for putting out that budget proposal for next year at $7.3-8 Trillion

10:05 AM
MADDOG10 said...

@ CDanaT, the three Nambla sisters are blown away, they can't rebuke factual Data. But they'll continue to say everything is Rosy as usual!

10:16 AM
CDanaT said...

MD.....Sorry my friend but you left out the go to/catch-all............"But Trump"<smirk>........They are the antithesis of "anathema"

10:21 AM
grwurston said...

"But Trump" is all they've got. They have NO facts, data, proof of anything.
And they think Biden is so great but they never show any support for him. Why not?

6:14 PM
MADDOG10 said...

@ grwurston,
     LOL, consider their source and agenda. They really had their panties in a wad after seeing the Rally in N.J.

11:00 PM

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