It’s not “deficits as far as the eye can see”, it’s more like deficits way beyond what the eye can see. The 3rd Rock from the sun is hurling through space where No Man Has Gone Before. The ruling Politburo/Leadership of 545 in Washington DC has no apparent will or desire to change the trajectory the nation is on regarding the astronomical national debt.
Perhaps the ability to make any material change is no longer viable, and so knowing that they just keep piling onto the debit day after day. The extremely confusing and frustrating part of this issue is the fact that the Government is collecting staggering historic levels of tax revenues, and yet still runs multiple hundreds of billions in deficits.
A recent article written by Terence P. Jeffrey has this to say;
“The U.S. Treasury took in a record of approximately $2,139,254,000,000 in taxrevenues in the first eight months of fiscal 2016 (Oct. 1, 2015 through May 31, 2016), according to the Monthly Treasury Statement released today.
That is up about $15,347,130,000–in constant 2016 dollars—from the approximately $2,123,906,870,000 in constant 2016 dollars the Treasury collected in the first eight months of fiscal 2015.
The record eight-month tax haul of $2,139,254,000,000 equaled approximately $14,164 for each of the 151,030,000 people in the country who, according to the Bureau of Labor Statistics had a full or part-time job in May”
To read Mr. Jeffrey’s entire article (CLICK HERE)
Our leaders have let us down for a very long time to get to this situation, and it’s not just a Republican vs Democrat issue. Bush doubled the national debt during his term, Obama has now doubled it again in his term. Here are some quotes to contemplate;
“Our Nation Stands At The Crossroads Of Liberty. Crushing National Debt, Rampant Illegal Immigration, Insane Business Regulations And Staggering National Unemployment Are Pushing Our Nation Into Unchartered Territory” James Lankford
“Obviously, There Has To Be A Profound Change In Direction. Otherwise, Interest On The National Debt Will Start Eating Up Virtually Every Penny That We Have” Bobby Scott
For a sobering look at the “Real Time” National Debt Clock (CLICK HERE)
The word “Titanic” comes to mind. Heaven Help Us All!