Gruber: This is Financial Suicide
Donald Trump said on the campaign trail while running for President that $24 Trillion dollars of debt was “like the point of no-return.” He may be right or we may have reached that financial cliff and already roared over it. Nobody is sure but what seems damn clear is that almost nobody in Washington really cares where the line is, or might be or could be.
Word out of Washington today is that the so called Big 4; Senators Chuck Schumer and Mitch McConnell plus House Speaker Paul Ryan and Minority Leader Nancy Pelosi have reportedly begun the process to put together a two year spending plan that will also include more money for social programs and more money for defense. Which of course means neither side gives a damn about ever getting our debt under control. It seems the Republicans who have always belly ached about too much spending become spineless, feckless, weasels when it comes to reeling in the purse strings.
They are all setting us on a path to financial suicide. There is simply no other way to put it because someday the bills come due.