The National Debt, Redux

I haven't written about the national debt in a while. I wrote about it several times in my old blog, Alibiforignorance.blogspot.com. Just search for debt and you'll find a host of my scribblings.

You remember (the) Simpson-Bowles (Commission), don't you?

"The final plan, released on December 1, 2010 reduced the federal deficit by nearly $4 trillion, stabilizing the growth of debt held by the public by 2014, reduce debt 60% by 2023 and 40% by 2035. The deficit would be eliminated by 2035." (Thank you, Wiki.)

It wasn't implemented because it couldn't get a super majority in committee. Too bad. If you go to my aforementioned blog, search for the post "The National Debt... and Us." It's one of my best.

The gummint spent $1.45 TRILLION more than it took in from all sources in FY 2022.

In 1981, the national debt was $908 BILLION

Today, 2023, the national debt is $33 TRILLION

Now, we're OVERspending an amount that exceeds by 150% the amount of national debt the yeyar my daughter was born. In other words, within living memory

NB: There's not enough money IN THE WORLD to pay off our debt.

If you owed someone more than you could pay, what would you do? Maybe you would sell some of your assets, the ones your creditors want the most. Your vacation home, your second Tesla, your gold bars (Thank you, Sen. Menendez). Anything to stave off hungry creditors.

What has President Biden done? Well, he sold off land near our military bases, or allowed it to be sold, in violation of national policy. He (and some of his forebearers) have looted the Federal Pension Reserve. There was real money there but they promised to repay it. How's that going, federal pensioners? Seen any repayments? He and Congress have done NOTHING to cut back on discretionary spending.

They can, of course. They just won't. Remember the money you couldn't repay? Well, you could cut down your discretionary spending, couldn't you? Wouldn't that free up some cash? Why can't the gummint do that? Well, the first thing you'll hear is that a large part of gummint money is untouchable. Nice touch, that.

But not ALL of the gummint's money is untouchable. They can cut back on SOME of it, can't they? Yes, they can, but they won't. Don't see the need. They might want to give some of it away to buy votes in swing states. Keep your eye out for large sums of money going to swing states in the next 14 months. You'll know why. 

You'll also see government agencies scrambling to spend any leftover money in their budget. Have to, they say, or they might not get as much next year. 'Oh, dear, our budget might get cut. Can't have that. SPEND!"

Stay tuned. I'm going to post something about MY plan for reducing the national debt. Until next time, I'm your humble correspondent.

Biden Visits Lahaina

Biden Visits Lahaina

"Oh, you poor Lahainers. (Well, who knows, Jill?) Here's $700 for every single house. Yes, sign up at that table and tell us where to mail it. 

"Oh. What? What happened? A fire? Is that what this was? Hot, I bet. And dirty, too. And kinda crunchy. Cap'n Crunch, get it? Are those bones? Where'd the houses go?

"I used to eat Cap'n Crunch when I was growing up here on the island. Big pirate on the box? Parrott? Was there a parrott, Jill? I love parrotts, could talk about them for hours. OK, I'm back. Never left. Before, you know, the big, um, what do they call it? Oh, thanks Jill. Hurricane.

"A few of you walk with me and pretend we're talking. Jill and I gotta be wheels up in two hours. Give my people your particulars and we'll have someone deliver the checks. To where? Where? That's not my problem. See my people. We gotta get back to Lake Tahoe in ninety minutes. No joke.

"On the way to the airport we're going to stop at the FEMA conference in Kaanapali. Costs that agency $1,500 bucks a day and more per person to stay there with all those pools and spas, plus meals!  I bet they're good, those meals. No Cap'n Crunch, probably. 

"I wonder if I could get a chocolate chip ice cream cone? Hey, you, have one waiting at FEMA. Yeah, I can order things like that. I forgot. Convenient as hell, being president.

"FEMA's only gonna be there a week, though, unless they extend, which I think they are gonna do. They're entitled. Thank God Kaanapali was spared and we can get the hell out of here and, uhhh, oh yeah, that FEMA is still with us. They've got a lot of emergencies to manage. Maybe those Lahainers could volunteer to help 'em, do you think, Jill? Or maybe pay 'em a little?"