A financial primer for young Americans re: annual federal deficts versus total debt

Most Americans think the Wall Street Journal is conservative and pro-capitalist.  That may have been true in the past, and it's possible that the *publishers* still are.  But the editors and reporters are just as liberal/Democrat as Harvard professors.

Example: yesterday the WSJ published a story about the federal government's "deficit."  For young Americans that's the amount the gruberment spent ABOVE what it took in in taxes and myriad other "fees."  And that's been a huge number for many years.  This year the Democrat gruberment will spend roughly $1.7 TRILLION more than  it took in.

Typical Democrat voter: "SO WHAT???  Dat don' mean nuffin' to me!"

Understandable.  That's because your highest brain function is watching television.  You may not be stupid, but you clearly don't know enough to understand what a $1.7 TRILLION annual deficit--as in, year after year--means.  That's why I'm here: to educate you.

Suppose you're a hard worker with a decent job, pulling down $40,000 a year before taxes.  But suppose you're spending $60,000 every year.  Where's that extra money coming from, eh?  

Sure: you're borrowing it, either from your parents or putting it on a credit card.  So how do ya think that's gonna work out for ya, eh?

After a year or so just paying the *interest* on that credit-card debt is gonna eat up a huge chunk of your income.  So if you were smaht (and you are, right??) you'd cut your spending back to a bit less than your after-tax income--which would enable you to pay down that huge credit-card debt.  But of course...you know most dumb-shits don't, eh?

SO...Thanks to a corrupt congress that gives lazy slackers free money in exchange for their votes every election, "your" federal gruberment has racked up $33 TRILLION in debt over the years--90 percent of it in the last 15 years.

"Oooohh, you don't suppose the government has to pay interest on that, do ya?  If they do, how much interest do ya have to pay on $33 TRILLION in debt?  I'll bet it's more than a million dollars a year!"

Yeah, well, you're close:  this year the federal gruberment will spend $711 BILLION just to pay the interest on this gargantuan debt.  (Q for students: which is bigger, a million or a billion?)

And every year the debt grows, because congress and the "preznit" refuse to cut spending back to the amount the gruberment takes in.

If you're a young American you literally can't believe this.  It's literally incomprehensible to a rational person, because it amounts to...inevitable suicide.  But year after year, to bribe voters to keep them in office, congress passes bullshit laws that require the gruberment to spend ever more money giving "free" stuff to slackers.

Starting to understand yet?

If you're a young American raised as a Democrat, the answer is "no"--because it's literally unbelievable that allegedly smaht congresswhores would do this, year after year after year.  And yet they do.

Now: here's the link to the WSJ article.  But you need to know that it's a total whitewash to make the biden/garland regime look better:  It spends the first several 'grafs disguising the current-year deficit by buying a blatant fraud perpetrated by the biden/garland regime to make the current-year deficit look smaller than it really is.  It's horse shit: all a huge dodge to make the regime look like responsible adults, when the truth is the exact opposite. 

The hoot is that IF anyone runs for congress on a platform of cutting gruberment spending, the Democrat machine screams that the challenger wants to "throw grandma off a cliff," or "take food from the mouths of children," or a dozen other things designed to prevent a responsible person from winning the seat.  And it works!

The lazy Democrats who utterly dominate the shithole Dem cities keep voting Dem, so the makeup of congress barely changes.  And even when the Repubs win a thin majority in the House (as we have now), the Democrat majority in the senate blocks any attempt to reduce spending.  Hell of a system, eh?

Suppose you were married to a person who constantly charged luxuries to your joint credit card.  You do everything you can to educate 'em that using the CC to spend more than you make is insane, and will eventually force you two to declare bankruptcy, but they adamantly refuse to stop charging luxury purchases to the credit card.  What are your options?

Get a divorce.

https://www.wsj.com/economy/the-federal-deficit-is-even-bigger-than-it-looks-6bc8a070?mod=djemalertNEWS