Government fiscal year ended September 30th with us 19.5 trillion in debt. Many know that part. What I found interesting is that is a increase of 1.5 trillion over last year. Wonder where it went? Total silence. That increase puts us at roughly 7 or 8 percent of GDP. The 2008 bank bailout was somewhere around 700 billion and was just under 5 percent of GDP. That aside, what I find amazing is 2016 was third highest level of spending EVER.
There is no bank bailouts, wars are suppose to be over (wink) where did it all go? Ummm? Sadly, I think social security and medicare are going to get a good hit unless there is a huge bump in taxes. Nope, not enough corporations or rich people to pay it all. Even taking all the military spending, parks, Obamer jet you name it, doesn't even come close to the costs of those two programs. Disability ran out sort of and it had to be refunded. Going to be a bumpy ride coming. Still wonder where 1.5 trillion went?
There is no bank bailouts, wars are suppose to be over (wink) where did it all go? Ummm? Sadly, I think social security and medicare are going to get a good hit unless there is a huge bump in taxes. Nope, not enough corporations or rich people to pay it all. Even taking all the military spending, parks, Obamer jet you name it, doesn't even come close to the costs of those two programs. Disability ran out sort of and it had to be refunded. Going to be a bumpy ride coming. Still wonder where 1.5 trillion went?
