"U.S. on track to add $19 Trillion in new debt in next 10 Years"-- New York Times ??!

A couple of days ago I posted about our $32-TRILLION national debt, showing that the biden regime's official budget figures about the amount of interest we're having to pay are brazen lies.

Now we have a new handle, from the office that officially forecasts budget items:
 
Today the Congressional Budget Office announced that the federal government will add nearly $19 trillion to its national debt in the next ten years.

That's $3 trillion *more* than recently forecast, due mainly to rising costs for...wait for it...interest payments!

Just for the record, I posted that the prior official figures were crap before the CBO report.  Eh, no matter, cuz the national debt doesn't mean anything, right Democrats?

The NY Times bleats that other causes of the staggering increase in the debt are veterans’ health care, retiree benefits and the military.  Certainly those costs are going up, but at about the rate of inflation.  And those increases are negligible compared to trillions in higher interest payments.  But the Times blames it on the military--cuz they absolutely refuse to blame the pork-laden multi-TRILLION spending bills rammed through by the totally Dem-ruled congress and signed by Porridgebrain.

Just in this year alone, the government is projected to spend $1.4 TRILLION more than it takes in (mostly from taxes).  And in the next decade the CBO says the deficit will average $2 trillion a year, "as tax receipts fail to keep pace with the rising costs of Social Security and Medicare benefits for retiring baby boomers."

Notice the selective blame:  Money is fungible, so one could as easily (and more logically) blame the recent "social equity" pork-fests of the Democrats.  Nah, can't have that!

But certainly the cost of both Medicare and Medicaid are skyrocketing, due in part to wildly increased medical costs in all sectors--because of government over-regulation.

Buried deep in the long Times piece is this gem: The CBO also says the U.S. economy will barely grow this year, after adjusting for inflation.  (i.e. higher numbers will be due almost entirely to inflation.)

Wait, isn't the economy booming?  Dat whut all duh Media been sayin' evah since dey hepped duh Dems steal duh 'lections.  So mus' be true, eh?  So why would duh CBO say "barely grow this year," eh?  Maybe dey dumb.

The CBO says the near-zero growth is due to the Federal Reserve’s campaign to tame inflation.  You know, that inflation that biden and the Dems claim is almost non-existent.  Or wait..."If it exists, it's merely... what's the term?  Ah yes: "Transitory."  Besides, biden assured you "inflation is a good thing."  We've got that on video.  But the media has ignored it, cuz...reasons.

Oh, and CBO also predicts unemployment will rise above 5 percent before easing again next year.  But dat a gud thing.  Democrat mayors and governors gonna put dem folks on duh "guaranteed annual income" dat duh Dems been braggin' 'bout.  So wif' dat an' unemployment, dey be makin' mo' den befo'.

The Times says the above projections--which should shock every American into consciousness for a day or so--"could supercharge a partisan debate between biden and House Republicans over spending," and the nation’s hysterically-misnamed "debt limit"--which of course is no limit at all, since Republicans always cave to Democrat screams and threats of disaster and vote with them to raise it.

Oh but WAIT!  The Times says this time the GOP is refusing to raise the limit unless biden agrees to unspecified spending cuts.  The Times then screams out this warning:
    "The GOP refusal threatens to set off a financial crisis and recession if the government is unable to pay all of its bills on time."

Didja get that?  "You awful Rethuglicans better not balk at voting with the Dems to raise the [fake] 'debt limit', cuz if you do it will set off a financial crisis and start a recession!!!!  How DARE you!" 

The Times again:

"Raising the stakes of that standoff, the CBO said in a separate report on Wednesday that such a crisis could occur as soon as July — and possibly even earlier — if lawmakers do not agree to raise the $31.4 trillion limit, which the government technically hit last month."

Wait...if the gruberment hit the debt "limit" last month, how can they be spending money since then, eh?  Oh, dat right: duh GOP caved as always, and voted to increase the limit.  So like I said earlier...no limit on spending.

While Republican lawmakers have blamed Mr. Biden and Democrats for the rising deficits, the CBO report makes clear that..." it's all Trump's fault.  Or it could be Rethuglicans' fault for refusing to block the gargantuan Dem spending bills when the Dems controlled the House, the senate AND the White House. 

Oh wait, Dem control of all three mean the Repubs couldn't block anything.

The Times crew then write a long paragraph blaming military benefits and higher defense spending--neither of which is significant, but they gotta blame the GOP.

And then this gem:

In contrast, the budget office said biden’s signature climate, tax and health care bill, which passed with only Democratic votes, would modestly reduce deficits over the next decade. That’s because the bill’s spending and tax credits were more than offset by its tax increases on corporations and high earners, along with its efforts to reduce the government’s spending on prescription drugs for retirees.

Can you spot the weasel-word in that last sentence?

 The report also showed the degree to which the Fed’s campaign to tame high inflation, by quickly and sharply raising interest rates, will drive up federal borrowing costs in the coming years. The Fed has raised rates to a range of 4.5 percent to 4.75 percent from near-zero a year ago and is expected to continue increasing borrowing costs over the next few months.

With inflation skyrocketing last year, the biden regime needed to cut it before the mid-term elections.  The fix was for the Federal Reserve to raise interest rates.  Is there anyone who didn't see that one coming?  But the White House team HAD to drop inflation or they feared getting wiped out.  Since the budget office last issued forecasts in May, the government’s short- and long-term borrowing costs have grown significantly. The budget office now predicts that federal interest costs will total $10.4 trillion over the next decade, up from $8 trillion in May.

Wow, just nine short months after last May's forecast, interest costs have risen by a staggering $2.4 TRILLION!  Who's running that outfit, Pete Buttigeig?

If any of us normal folks made a major calculation that just nine months later turned out to be wrong by $2.4 TRILLION--a 30 percent error--we'd be looking for a new job.  But for regime folk, errors like this are totally expected.

Now here's the topper, from the Times:

There were no indications in the report that the size of the federal debt is dragging on economic growth or will any time soon. But officials warned that in the long run, policymakers will need to change the nation’s fiscal course, which could come from raising taxes, cutting spending or both.

Today biden was preparing to hit back at Republicans on the debt, highlighting the new House majority’s plans to extend expiring tax cuts signed into law under Mr. Trump and repeal tax increases on high earners and corporations that Mr. Biden signed into law last year.

“Let’s be crystal clear about what’s happening,” Mr. Biden planned to say at an event in Maryland, according to advance speech experts released by the White House. “If you add up all the proposals that my Republican friends in Congress have offered so far, they would add another $3 trillion to the debt over 10 years.”<<

Notice how deftly the Times blames Trump and the Republicans for the literally trillions of dollars of pork-filled laws passed by the fucking Democrats and signed into law by the corrupt "president."

Mainstream Media running true to form.  And most of my Democrat friends are totally fine with all of this.  (If you're a Democrat I love, I know you are as upset about this as I am.)

But for those Dems who are fine with it, you deserve exactly what you've consistently voted for.  The people I feel sorry for are your kids:  Unless they voted Democrat too, they're innocent victims.  And this debt bomb will explode during their lifetimes. 

You could join us and try to help, but you'd rather vote to help Joe and Cackles welcome another two MILLION illegal invaders every year.  Yeah, that'll help.  You'd rather kill oil and gas, naively believing our economy will do just fine without it.  Yeah, keep bleating that.  You'd rather believe what the Media and the regime tell you, because it makes you feel good about your choices.

https://www.nytimes.com/2023/02/15/business/national-debt-biden.html