WHY IS IT SO CRITICALLY IMPORTANT TO GET CONTROL OF OUR RISING AND CLIMBING $35 TRILLION DOLLAR NATIONAL DEBT???
IT IS SO CRITICALLY VERY IMPORTANT to gain control of Our Rising National Debt currently at $34.85 Trillion Dollars (with $1.20 Trillion more being spent this year alone than what we’ve collected and that’s only in the first 6 months of this year!!!
The biggest problem caused by our now rising out-of-control National Debt is that we could lose our position as the world’s Global Currency if we don’t do something!!
If that were to happen the dollar would quickly lose its relative value compared to other currencies—What we sell to other nations, we would get less in return and what is imported here would be more expensive for each and all of us!!!
With our National Debt surpassing the $34 Trillion Dollar mark and the current Debt Ceiling crisis again needing to be resolved this time by January 19th, Congress, at least, may have a temporary budget proposal in the works of 1.59 trillion dollars comprised of 886 billion designated for defense spending and another 704 billion in non-defense spending.
First of all, just to lay some groundwork, the reason Congress is debating Raising The Debt Ceiling even though all the expenses and obligations in question is not some future-to-be debt but rather are expenses and obligations ALREADY incurred, The Problem is–there’s not enough money currently in the U.S. Treasury to pay these bills.
This “Perfect Storm” of Low Supply of Key Items–the raw materials and component parts that go into the manufacture and production of many things coupled with Excess Cash in the hands of both Business and Consumers leading to Price Increases for all these raw materials and component parts and ultimately for the finished goods and merchandise sold to The Consumer—This “Perfect Storm” of the “Worst of the Worst” of Coincidental “Gut Punches” leading to the Resultant Subsequent Compounded Inflation that we’ve had and are STILL experiencing!
Yes, as The Fed raises Interest Rates to Curb Inflation—The result of this action of Raising Interest Rates, Diminishing Demand by Increasing the Costs of Borrowing Money thereby Decreasing Purchases of Consumer Items such as Homes and Cars and for Businesses–Loans for Start-Ups, Ventures, Expansion and Equipment, can also help with Our Debt Ceiling Crisis!!
This is a discussion about The Fed BUT WITH A DIFFERENT SLANT. Everybody on the news circuit is talking about the interest rate hikes The Fed is implementing to curb inflation but no one is talking about JUST BTW–JUST WHAT IS THE OPTIMUM INTEREST RATE LEVEL?
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