Opinion Drowning in debt

20:40  13 february  2018
20:40  13 february  2018 Source:   MSN

The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

  The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year Trump didn't mention the debt in his State of the Union address. The absence of any mention of the national debt was frustrating for Goldwein and others who warn that America has a major economic problem looming.“It is terrible. Those deficits and the debt that keeps rising is a serious problem, not only in the long run, but right now,” Harvard economist Martin Feldstein, a former Reagan adviser, told Bloomberg.The White House got a taste of just how problematic this debt situation could get this week.

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When you grasp this concept, it becomes easy to understand why major exporting nations such as China have become so wealthy, and why we are drowning in debt .

Treasury Secretary Steven Mnuchin sits under a display of the U.S. national debt as he testifies to the House Financial Services Committee on © REUTERS/Joshua Roberts/File Treasury Secretary Steven Mnuchin sits under a display of the U.S. national debt as he testifies to the House Financial Services Committee on "The Annual Report of the Financial Stability Oversight Council" on Capitol Hill in Washington, February 6, 2018.

Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

In "Hamlet," Shakespeare pens one of the most familiar lines – and best advice – ever written. Before Laertes leaves for Paris, his father, Polonius, tells him: "Neither a borrower nor a lender be..."

Right revolts on budget deal

  Right revolts on budget deal House conservatives on Wednesday revolted against a massive bipartisan deal to raise the debt ceiling and bust spending caps, complaining that the GOP could no longer lay claim to being the party of fiscal responsibility. "I'm not only a 'no.' I'm a 'hell no,' " quipped Rep. Mo Brooks (R-Ala.), one of many members of the Tea Party-aligned Freedom Caucus who left a closed-door meeting of Republicans saying they would vote against the deal.It's a "Christmas tree on steroids," lamented one of the Freedom Caucus leaders, Rep. Dave Brat (R-Va.).

Drowning in debt ? Federal loan-repayment programs can help recent graduates pay back their increasingly massive student loans.

Here’s my step-by-step advice for dealing with debt : Step 1: Make a list of everything coming in and everything going out. If you go to the emergency room

We have ignored that advice for far too long, which is why the U.S. national debt is $20 trillion with more to come, thanks to the Republican Congress, which has passed a two-year spending bill that calls for $300 billion in new spending and removes caps applied by the Budget Control Act of 2011.

It's being sold to the public with the highest and purist motives. We need to support our "brave" men and women in uniform and repair our roads and bridges.

As Politico first reported, an audit revealed a Defense Department agency can't account for $800 million targeted for building projects. Worse, if that's possible, the Defense Logistics Agency has no paper trial and can't tell auditors where the money went. And Congress is going to give them more.

Exclusive: U.S. gunmaker Remington seeks financing to file for bankruptcy: sources

  Exclusive: U.S. gunmaker Remington seeks financing to file for bankruptcy: sources Exclusive: U.S. gunmaker Remington seeks financing to file for bankruptcy: sourcesThe move comes as Remington reached a forbearance agreement with its creditors this week following a missed coupon payment on its debt, the sources said. The company has been working with investment bank Lazard Ltd (LAZ.N) on options to restructure its $950 million debt pile, Reuters reported last month.

Facebook. Twitter. Pinterest. Stumbleupon. Whatsapp. Email. Advertisement. If you read financial news or blogs, you probably hear about people “ drowning in debt ” all the time.

Drowning In Debt . March 20, 2011March 20, 2011 by Michael Snyder. An ancient proverb that is oft-repeated even in our time is that you will always end up reaping what you sow.

As for infrastructure, wasn't the Obama "stimulus," otherwise known as the American Recovery and Reinvestment Act of 2009, supposed to have fixed roads and bridges? It was more like a down payment because government never has enough of our money.

Sen. Rand Paul (R-KY), spoke the truth when he held up passage of the budget bill. As reported by The New York Times, Paul said: "I want people to feel uncomfortable. I want them to have to answer people at home who said, 'How come you were against President Obama's deficits and then how come you're for Republican deficits?'"

Paul was the only Republican senator to vote against the measure which is expected to increase the debt to $30 trillion over the next decade, when probably all of those in the Senate will be dead or gone and won't have to take responsibility for it.

In addition to providing more money for the military, some Republicans are claiming with a straight face that this massive new spending is needed to finish repeal of Obamacare. No one can seriously believe that, especially with all of the additional pork that is undoubtedly added on to this bill in order to gain "bipartisan" support. So if it's bipartisan, it must be good, right? Spending may be the last bipartisan act in Washington.

Opinions | Republicans’ fiscal flip-flop is breathtakingly ill-timed

  Opinions | Republicans’ fiscal flip-flop is breathtakingly ill-timed The GOP’s hawks seem to have flown the coop.Republicans’ plan to Make Deficits Great Again is not merely hypocritical. It’s also terrible policy. Or at least terribly, breathtakingly ill-timed.

"America is drowning in debt !" It's a phrase you hear constantly regarding the Federal government's debt , household debt , corporate debt , financial debt , etc.

Meanwhile, a string of bad storms has left the program billion in debt — so far. Federal Flood Insurance Program Drowning In Debt . Who Will Pay?

President Trump says if there were more Republicans in Congress the new spending and increased debt would not have happened. Maybe.

It's helpful to remind these free-spending Republicans what our Founders warned about the dangers of debt.

James Madison said: "Debts and taxes are the known instrument for bringing the many under the domination of the few" and "I go on the principle that a public debt is a public curse."

Thomas Jefferson spoke to the dangers of a government drunk on out-of-control spending that leads to increasing debt: "To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude."

Among the reasons empires and great nations have collapsed is public debt. Seeking to pacify the masses by never saying "no" to anything, politicians mortgage the future while preserving their current careers. Maybe America should change its initials from USA to ATM.

To invoke singer/songwriter Don McLean in a different context and applying it to modern politicians: "They would not listen they're not listening still; perhaps they never will."

(Readers may email Cal Thomas at tcaeditors@tribpub.com.)

The U.S. is picking a fight with its biggest creditor .
Despite vow to crack down on China, Trump administration needs it fund growing debt.President Trump is considering more tariffs that would punish China. But he needs China more than ever in the coming years to pay for the U.S. government.

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