Article Image

IPFS News Link • Government Debt & Financing

The Senate Calls Out-of-Control Spending a National Security Threat, Keeps Spending Anyway.

• Ron Paul Institute - Ron Paul

In addition to the usual increases in war and welfare spending, the bill funds gender transitioning for minors without parental consent and red flag laws, which allow law enforcement to seize an individual's firearms without due process.

Before passage of the latest spending bill, the Congressional Budget Orifice (CBO) released a report predicting that the national debt would exceed the prior record of 106.4 percent of gross domestic product (GDP) by 2028. Interest payments on the national debt are estimated to reach 870 billion dollars this year, more than the government will spend on the military. The CBO estimates that, unless Congress cuts spending (which is highly unlikely), by 2051 interest on the debt will exceed not just military spending but spending on the two biggest items in the federal budget — Social Security and Medicare.


PirateBox.info