Source; SNGLR
America is at the brink of financial collapse. In 2023, we took in $4.4 trillion and spent $6.1 trillion. Our debt is $36 trillion, with $1.02 trillion per year in interest. You would think somebody, somewhere in our government would suggest we hit the brakes on the spending(1). Every year, Sen. Rand Paul publishes his Festivus Report highlighting some of the insanity. It makes the news for a couple of days and then we go back to business as usual. And when a few million dollars shows up in a 1,500-page bill to fund roller-skating drag queens or to study constipation in cats or to find out what happens to puppies when you subject them to electrical shocks, our “representatives” support the bill. They have to because the bill was given to them the night before it was due to be voted on, and it also contains expenditures to help feed hungry children, so they had no choice. Who wants to be known as the person who voted to take food out of the mouths of kids?
Feel bad for the innocents in Ukraine, but also feel bad for Americans in Ohio and Lahaina and those in our southeastern states whose homes were destroyed by Helene and Milton. We’ve allocated over $100 billion in aid to Ukraine since 2022, but it seems as if the money spigot for our own citizens barely turns at all. New York State wasted $20 billion on fraudulent Medicaid claims and billions more are being spent housing illegal aliens. We send billions of dollars overseas every year while our own citizens languish and our infrastructure crumbles. Why are we sending foreign aid to China?
Pray that Elon Musk and Vivek Ramaswamy follow Javier Milei’s example and bring a financial chainsaw to work with them at DOGE.
1. To put it in terms closer to home imagine a family of 4 who earns $44,000 per year and spends $61,000. The family is $362,000 in debt, and that debt alone is generating $10,000 a year in interest. This family also blows at least $10,000 a year on frivolous activities. They give away over $700 a year to other people, but not all of whom are grateful, some of the recipients stealing from it and damaging its property, even assault members of that family! Parts of this family’s property are in very poor repair, and some members are not well. People have tried to warn them of their profligate spending, but they already know! They understand that their lifestyle is unsustainable, but they’re unwilling to tighten their belts. Things like rent, food, insurance, and fuel are costing them $38,000 a year. There’s still $17,000 per year of “discretionary” spending that they could economize on, but they choose not to.
Supplemental Info:
https://www.zerohedge.com/markets/bond-markets-are-revolting-ed-dowd-exposes-biden-admins-incompetence-or-fraud
https://uk.headtopics.com/news/us-credit-card-defaults-surge-to-highest-level-since-2008-64116196?__cf_chl_tk=vE0yfCpYqabrNQPZ.IgPpYs1g2yOBWIDewAx903Be_U-1735650089-1.0.1.1-S6cd6oG64XNFlHrQITiHWtf8bj3kO5PDswwz9R8DS9Y
https://mishtalk.com/economics/continued-unemployment-claims-make-a-new-high-for-the-year/
https://justthenews.com/nation/states/center-square/trump-faces-federal-employee-unions-government-efficiency-battle
https://thefederalist.com/2024/12/30/contrary-to-media-claims-deporting-illegal-aliens-will-save-taxpayers-more-than-it-costs/?utm_source=rss&utm_medium=rss&utm_campaign=contrary-to-media-claims-deporting-illegal-aliens-will-save-taxpayers-more-than-it-costs&utm_term=2024-12-30
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