Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.
If this insane spending bill passes, the America Party will be formed the next day.
Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.
NEW: We are suing Donald Trump.
This is a manufactured crisis. He is creating fear and terror to take over a state militia and violate the U.S. constitution.
The illegal order he signed could allow him to send the military into ANY STATE HE WISHES.
Every governor -- red or blue -- should reject this outrageous overreach.
There’s a lot of hyperbole out there. This isn’t that.
This is an unmistakable step toward authoritarianism that threatens the foundation of our republic.
We cannot let it stand.
Donald Trump, without consulting with California’s law enforcement leaders, commandeered 2,000 of our state’s National Guard members to deploy on our streets.
Illegally, and for no reason.
This brazen abuse of power by a sitting President inflamed a combustible situation putting our people, our officers, and the National Guard at risk.
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