Maya MacGuineas, president of the Committee for a Responsible Federal Budget, discussed with Breitbart News Daily SiriusXM host Alex Marlow the serious nature of current and future budget issues facing the nation.
“We are on track if we do nothing over the next ten years – doing nothing, passing no laws – we will borrow nine trillion dollars,” said MacGuineas on Tuesday’s show. She also pointed out that as of now, Trump’s current plans based upon his campaign rhetoric would add another five trillion dollars to the deficit.
“Our debt is already at record levels,” she added. “It’s about seventy-seven percent of GDP, and we will borrow another nine trillion dollars because of automatic spending growth.”
MacGuineas said, “Not many people notice, but the single fastest-growing part of the budget is interest on the debt.”
“If we do nothing, at some point, we’ll have a debt crisis,” she added, discussing the ramifications at length.
Breitbart News Daily airs on SiriusXM Patriot 125 weekdays from 6:00 a.m. to 9:00 a.m. Eastern.
#1: Vicomte13 To: cranky (#0)
Vicomte13 posted on 2017-03-01 07:37:15 Reply Private Reply
#2: cranky To: Vicomte13 (#1)
Absolutely.
Americans can rely on career, second and third generation political hacks to practice the same fiscal responsibility that has made us debt free and be proper stewards of america's wealth as they have for decades.
Sleep well, america! Republicrat foxes are guarding the hen house.
Our future is assured.
cranky posted on 2017-03-01 08:14:30 Reply Private Reply
#3: misterwhite To: cranky (#0)
Budget? We have a binding Congressional budget? Since when?
misterwhite posted on 2017-03-01 10:58:04 Reply Private Reply
#4: cranky To: misterwhite (#3)
I believe the federal government is currently financed via a continuing resolution.
The current one ends next month, I believe.
cranky posted on 2017-03-01 19:31:45 Reply Private Reply
#5: Vicomte13 To: cranky (#4)
It will be extended, of course.
Vicomte13 posted on 2017-03-02 09:52:10 Reply Private Reply
#6: misterwhite To: Vicomte13 (#5)
Yeah. It reads, "Whatever we spent in the last six months, add 3% and that's your "budget" for the next 6 months. And if you exceed that number don't worry about it."
misterwhite posted on 2017-03-02 11:43:48 Reply Private Reply
#7: Vicomte13 To: misterwhite (#6)
And until the Trump agenda is settled and we have a formal budget drawn up, that will have to be the way we do it - ad hoc. Trump didn't create the mess, and he didn't start the fire. Getting it under control is going to take time.
Vicomte13 posted on 2017-03-02 13:10:39 Reply Private Reply