Amidst all the hoopla and smoke & mirrors that defines Trump and his administration, there are some very serious long-term policy decisions being made that will affect the future of this nation. Friend Keith Wilson has brought one to the limelight, and we should all be taking this one seriously. Please take a moment to read Keith’s post about our national debt and where we are heading. Thank you, Keith, for the clarification.
Tick, tick tick…the US debt of $20.7 trillion is expected to increase by $10 trillion by 2027 even before the December Tax Bill and last night’s Budget Bill were passed.
Tick, tick, tick…per the nonpartisan Congressional Budget Office and Committee for a Responsible Federal Budget, the Tax Bill is projected to increase the US debt by $1.5 trillion or so by 2027.
Tick, tick, tick…last night’s Budget Bill which has now been signed into law is expected to increase the debt by $300 billion over the next two years.
Tick, tick, tick…unless something is done about it, the debt will be close to $33 trillion in 2027. The scarier thought is that might be low.
Tick, tick, tick…the added dilemma we are facing is the interest rates are increasing, since we may have overheated a good economy. That will add further to the annual interest cost on the debt.
If I were in…
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