The Epoch Times By
Commentary
U.S. debt is blasting toward the debt ceiling it recently raised—just over a month ago—like a SpaceX rocket heading for low earth orbit.
Well, that didn’t take long.
The fake conservatives in Congress feigned horror as they watched our black hole of an IOU expand over four-fold since the turn of the millennium… more than double since the last decade… and by nearly a third in just the last two years.
At 108 percent of the country’s GDP, any actual “Keynesian multiplier” stimulus to be incurred from deficit spending has been reduced to crumbs.
And that’s without even considering the unfunded liabilities like Medicare, social security, and the rest. That $29.8 trillion number that everyone talks about represents the face amount of securities outstanding.
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