The Congressional Budget Office monthly report shows that since the federal government’s fiscal year started in October, the budget deficit is already $622 billion, which is 40% higher than it was at the same time in 2023.
At this rate, the federal government will be running an annual budget deficit of $3.7 trillion by September, 2025, the highest ever.
It’s part of the financial damage that President Joe Biden is leaving the Trump Administration, which starts Jan. 20.
Overall, the U.S. debt is now over $36 trillion. That’s the amount that the country has borrowed from foreign governments, institutions, and citizens who invest in U.S. Treasury bonds. Japan, China, the United Kingdom, Belgium, and Luxembourg are the countries that own the majority of U.S. debt. Every taxpayer in America owes at least $209,000 for this spending of borrowed money.
Just two months into the fiscal year, Biden appears to intent on making America’s fiscal catastrophe worse. He traveled to Angola a week ago to announce another $600 million in new financing for infrastructure in that country, part of $4 billion the Biden Administration has sent to Angola for the rail and port projects connecting Angola to Zambia.
“Every taxpayer in America owes at least $209,000.” I don’t owe nothing I never authorized them to spend this money so it’s not my obligation to pay it back. Go Ahead tell me that I will pay and that I did authorized it by electing the officials. No I voted for fiscal conservatives not the communist in Congress.
You are paying. Congress isn’t asking you to pay. They are basically printing money which is a great way to take your wealth against your will. Have you bought a hamburger lately? Increasing costs for all the goods and services you use is how you’re paying today, right now. You work to earn a dollar and at the same time Congress simply prints two dollars, poof, right out of thin air.
Is there anything this president does that does not directly support the WEF agenda? Jan 20 cannot come quickly enough.
Our “government” has become a complete antithesis of it’s designed function. Instead of doing what is necessary to bring the dollar value back up where it belongs, there is now a huge push to supplant the dollar with digital currency. This is nothing more than attempting the same failed option that Weimer Republic used when they printed huge quantities of paper with zero backing. Bitcoin is not the answer, it is the path to failure and the huge quantity of US dollars printed by our government, especially in the last 12 years, is only solved by doing what is necessary, instead of putting out another BS idea that will only end in failure. The rest of the world must take care of itself or we will become a third world country. Let the mining interests that will profit from the railway build it.
Control of the peons is what they want.
That is what the Davos/WEF crowd wants. And, this administration (as well as the 2009-2017 one) did everything they could to advance that agenda.
There is no federal budget, Congress has failed its’ primary duty since 2007 in passing a “budget”. Every year since then its’ only been continuous resolutions. All previous spending plus whatever is added on throughout each subsequent year.
The government itself, with the Intelligence Agencies (4th Branch) as enforcers, has accumulated the actual power over both the legislative and executive branches, rendering them as neutered puppets, limited to poor quality circus shows for the public to continue pretending there is self governance.
China is named a mortal enemy while we rely on it for our industry, which we stripped from our country and repatriated overseas, and rely on the PRC to float the massive debt with worthless paper “bonds”.
Zambia is a landlocked mineral rich country, financing rail out to Angola and port improvements benefit the companies exploiting them
If they paid our treasury back it would make sense. They won’t, but the politicians who earmark public funds to be spent on corporate socialist projects, like Biden’s handlers in this case, are personally compensated.
AND(!!!) … How many Federal Dollars have been allocated to: Maui, North Carolina, and Florida devastated by storms and fires??? I can’t prove it, but it sure looks shady of all these overseas commitments (ie: Foreign Aid) and I can’t help believe these dollars are finding there way into Politician Pockets // War-Chests.
Oh, but it comes from a different pot of money…
This administration will not only continue to inflict as much damage as possible, but will take it up several notches (at a cost to us and future generations) to lay the groundwork for a deluge of negative effects in the hopes that it will generate failures, or at the perception of failures, for the incoming administration. All of this will be to attempt to create a Dem advantage at the polls come mid-terms, with the further hope of then getting enough seats to halt any action by the Republican controlled Congress and White House and create a more likely win in the next Presidential election. The end justifies the means. Dems don’t have to worry about throwing the baby out with the bath water because they already aborted the baby.
It won’t be long before Trump gets news of this and states “hold my beer”!
…or Whidbey and states “give them more”
So, if the leftists can ignore actual revenue and spend without any concern about the debt, you would what…suddenly stop spending? (assuming you were President). I seriously doubt it.
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Did McConnell put the filibuster back in place after Reid pulled the nuclear option? No. Why should he? Precedent has been set, use it to your advantage.
Don’t worry the Trump admin is coming in soon and will extend the Trump tax cuts from his first term for the 1% of this country. Social Security, medicare and medicaid will all get cut to fund the continued tax cuts. The billionaires got theirs, the rest are on our own. Tariffs are coming and just like the wall they will not be paid by other countries, but by the people buying products in the USA!
Can you point to the part of he Trump administration tax law where only the 1% benefitted please.
The top 1% received 92% of the tax benefits. Just like Trump’s stimulus bill. Wall Street got the trillions and the peeps got the leftover crumbs.
What do you mean, they received 92% of the benefit. Explain that.
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I am going to have to ask you for some math and numbers on that one.
Because I remember doing measurably better after the Trump tax law went into effect, and I am a far distance from the 1%.
And, even if you are correct, do you think the lowest earners in the nation are going to turn their nose up at their reduction? No, they are not.
4 billion for Angola. Meanwhile in the southeastern US…..
The irony of Bidens’ puppet masters impeding the Ambler road to access our minerals to exploit, ending coal leases in the western states and denying a critical road for medical emergencies of King Cove residents, blowing up Nordstream, while then gifting $4 Billion to benefit the corrupt Angola ruling elite and assist Zambia in exploiting their resources.
Environmental and worker protection safeguards for mines in Zambia are nonexistent.
“Japan, China, the United Kingdom, Belgium, and Luxembourg are the countries that own the majority of U.S. debt.” Foreign countries in total actually own $7.9 trillion (about 22%) of the U.S. national debt. The majority (78%) is held in country.
Once that money hits Angola it will be damn hard to spot how much filters back to ‘the big guy” it looks like a last ditch grab ploy to me.
Maybe we can borrow money from Israel, they are one of the few nations with a positive bankroll. Funny how they can afford to continuously expand their borders and stay out of debt. lol
Israel has been shrinking since it was first recognized as a country.
Please everybody please we need to go back to the same mindset and effort and desire like back in the late 1990s when they started reducing the deficit and balancing the budget to start paying down the national debt we should have continued on that path while we still had the chance that’s great that they want to put Elon musk to work on this but it would be great if they can bring back some of those same people from the late 90s to work on this also even if you don’t like hearing their names for example newt Gingrich and Bill Clinton Al Gore all of those that had a hand in that mighty effort in the late 1990s to start balancing the budget and start paying down the national debt maybe study those budgets back then and start replicating them before it gets even harder so please put newt Gingrich and Bill Clinton and Al Gore as well as Elon musk even somebody related to Ross Perot to work on this
Well, given Trump’s record of spending during his first term, this idiotic trend of spending more than we take in will undoubtedly continue. Fiscal conservativism is dead.
It doesn’t take a rocket scientist to figure this out..and the sucking sound is not coming from mexico
Think of it as a reward for their excellent human rights record.
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