Our Budget (for Politicians and Other Math-Challenged People)

President Trump has now signed a two-year spending bill for the U.S.  Some thoughts:

On President Trump:

  1. He did not campaign as a fiscal conservative, and is not governing as a fiscal conservative.  He’s shown no interest in reducing deficit spending, merely in spending money elsewhere than his predecessors.
  2. Signing this $1.3 trillion spending bill will alienate true conservatives.  I hesitate to speculate about President Trump’s “base,” for I truly do not understand them.  But I know they voted for two things, other than his gregarious megalomania – they voted to “drain the swamp,” disrupt business as usual, and build a border wall.  Massive overspending IS “business as usual.” The bill, which includes funds for Planned Parenthood but not for his promised border wall. merely to avoid a government shutdown, will be (or at least should be) seen as capitulation. Or the whim du jour of a capricious President whose only governing principle seems to be personal popularity.
  3. If the President alienates enough true conservatives, Congress could flip to the Democrats in November.  This will have serious repercussions.  Robert Mueller will extend his investigation into Trump campaign collusion into the next election. A Democrat-controlled Congress will almost surely impeach President Trump. In signing this instrument of surrender, President Trump may have unwittingly signed his own articles of impeachment.

Deficit Spending:

  1. The deficit for the last year of the Obama administration was $587 Billion.
  2. The deficit for the first year of the Trump administration was $666 Billion.
  3. In Forbes magazine, financial analyst Chuck Jones estimates the federal deficit “could come close to if not exceed $1 trillion in fiscal 2019 and will likely exceed $1 trillion in fiscal 2020 and beyond. And this is before the additional deficits created by the tax reform bill and the just passed two year budget.”
  4. Our government actually operated with a surplus in 1998 ($70B), 1999 ($76B), 2000 ($236B), and 2001 ($128B). The politics of this is a subject of great debate.  Democrats point out that Bill Clinton was President.  Republicans counter that President Clinton was forced to conservative fiscal policies when the “Republican Revolution” of 1994 which gave Republicans control of Congress for the first time in 40 years, and that President Bush had to spend more money in the aftermath of 9/11.

National Debt:

Our national debt now stands at $21 Trillion. Just to put that into perspective:

  1. 21 Trillion seconds = 665,450 years.
  2. Our population is 325.7 million (adults and children). So our national debt equals c. $65,000 per person.
  3. Roughly 140 million people pay taxes. So our national debt equals c. $150,000 per taxpayer.
  4. If we miraculously started paying off our debt today, here’s how long it would take (not including interest):
    1. If we paid back $1 million per minute, it would take 40 years.
    2. If we paid back at the 2000 surplus rate of $236B, we would pay our debt in 89 years.
    3. If we paid back at the 1998-2001 average surplus rate, it would take 165 years.

Final Thoughts:

  1. This is more than immoral and unwise – it is completely and utterly ungodly.
  2. We collapsed the USSR by making them spend themselves out of existence.

 

gkr1996 posted at 2018-3-23 Category: Political