The Wall Street Journal reminded us yesterday that the federal government now pays $1.5 billion in interest every day.
Soon interest payments alone will exceed what we spend on Medicaid. And not long after that our annual interest payments will exceed our defense budget.
Today’s tweet by one of the investment world’s most respected economists:
This is what happens when a country elects a self-proclaimed “King of Debt” to the presidency.
Once again, Vera, I’m sorry for the mess my generation will be leaving yours. My generation adhered to the philosophy, “Live for today, don’t worry about tomorrow.”
At least your and your parents’ generations won’t be without any remedies. You can always slash the Social Security and Medicare programs.
I suppose it’s a good time to give the rich folk another tax cut.