What happens when you invest money you don’t have? Everybody knows the response to that concern. Yet what occurs when the federal government does it on an extraordinary scale? Eventually, all debts have to be settled. The concern is, who’s mosting likely to pay the bill? Financial Expert Stephen Moore has the answer.
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INT. HOSPITAL ROOM– DAY.
Resting up in bed, Mom holds her valuable new baby in her arms. Together with her, Dad beams with satisfaction. Behind-the-scenes, a nurse smiles. So does the medical professional, worn her scrubs..
GOVT DEBT COLLECTOR (VO).
I’m right here to accumulate your $600,000 share of the public debt!
The Government Debt Collector, clad in a black suit, stands in the doorway.
Mommy turns white with scary..
” What! We don’t have $600,000!.
GOVT DEBT COLLECTOR.
I had not been talking with you. I was talking to your baby.
He reaches over and also tags the baby’s small little toe with $600,000 IOU..
GOVT DEBT COLLECTOR.
Have a great life..
Open mouthed, Mom, Dad, Nurse, Doctor and ultimately Baby view him exit.
INT. Maternal Ward.
See the infant with a toe tag.
This isn’t a made-up horror tale. It’s genuine. It is the unpaid credit report card bill our children as well as our grandkids are dealing with– money they really did not spend however will certainly have to pay..
The Democrats direct their finger at the Republicans. The Republicans point back at the Democrats. The truth is that the political leaders of both events have actually brought us to the side of this monetary high cliff..
They claim they’re spending all this money with the most effective of objectives: the trillions are needed to finish hunger and minimize inequality; offer every person with free healthcare; and also save the world from international warming.
But there is no method around the easy mathematics. You can not spend what you do not have– not forever. Debts need to be paid back.
We’ve been sweeping this problem under the proverbial carpet for years, today we’re lacking carpet..
During the year of the Covid situation, a Republican head of state, Donald Trump, accepted an enormous rise in federal government spending. His thinking went like this: We closed down the economic situation. We need to assist individuals out..
Did he go too far? Perhaps, however almost everyone agreed something had actually to be done..
Then, Joe Biden, a Democrat head of state, got in the White House as well as required $1.9 trillion in additional investing– although one trillion of the previous Covid relief cash had not yet been spent, as well as although the economic climate was currently well on the means to recouping..
Then the new President swiftly asked for another $1.1 trillion for “facilities”, which utilized to mean projects like roads, bridges, and also airport terminals, yet now consists of free gifts like electrical auto charging stations for Tesla owners. Incidentally, 19 Republican Senators joined the Democrats. No one is blameless..
However, wait– that only ended up being President Biden’s opening bid. He placed another $3.5 trillion in costs on the table for a great deal of rewards: free child-care, free area college, student funding mercy, expanded Medicare as well as Medicaid, huge subsidies for “eco-friendly” technology, and also on and on..
Add all this extra investing and also you come to $6 trillion dollars. Yes, that’s a six with 12 zeroes after it..
This is a degree of investing we have never seen..
The numbers are so large, it’s difficult to grasp. To supply a little viewpoint consider this..
$ 6 trillion is even more cash (changed for inflation) than we invested in The Revolutionary War, the Civil War, World War I, World War II, the Louisiana Purchase, the Transcontinental Railroad, the Interstate highway system, and the Moon Landing combined..
Generally, we obtain money as a nation throughout a period of dilemma. When the situation finishes, we begin to pay down the debt.
What the Progressive Left desires to do is release the biggest costs spree in American history– after the crisis is over!.
What’s looming ahead, however, is a new dilemma: a nuclear-sized debt bomb. Our multi-trillion buck public debt misbehaved enough prior to all this suggested investing.
For the complete script along with FACTS & SOURCES, go to https://www.prageru.com/video/the-bankrupting-of-america.