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left-of-center2012

(34,195 posts)
Wed Oct 31, 2018, 04:33 PM Oct 2018

Bolton Calls National Debt 'Economic Threat' to U.S.

Source: Bloomberg

U.S. National Security Adviser John Bolton called the national debt a “threat to the society” that requires significant cuts to the government’s discretionary spending.

“It is a fact that when your national debt gets to the level ours is, that it constitutes an economic threat to the society,” Bolton said. “And that kind of threat ultimately has a national security consequence for it.”

Discretionary spending is set by Congress each year, while spending on entitlements is twice as large and more automatic, generally dictated by demand for the services. Many budget experts say entitlement spending presents a larger long-term threat to the U.S. economy because of both its magnitude and increasing demand from an aging population.

“In the near term, the budget deficit problem is in the discretionary spending,” Bolton said. “The entitlements come in a few years and that problem’s going to have to be addressed. But right now, you can have significant impact on both the deficit and the national debt by cutting government spending on the discretionary programs.”

Read more: https://www.bloomberg.com/news/articles/2018-10-31/bolton-calls-u-s-national-debt-economic-threat-to-society-correct



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Bolton Calls National Debt 'Economic Threat' to U.S. (Original Post) left-of-center2012 Oct 2018 OP
Uh...okay you colossal dbag n/t hibbing Oct 2018 #1
Maybe people will wise up to the strategy behind the massive tax cuts. olegramps Oct 2018 #10
Fixed Watchfoxheadexplodes Oct 2018 #2
There are two ways to fight debt. mwooldri Oct 2018 #3
And they've been doing it for Arger68 Oct 2018 #9
It's the Republican debt BeyondGeography Oct 2018 #4
We all know what "entitlements" are, i.e. Trump planing to his properties along with SS. Those monmouth4 Oct 2018 #5
Sure. After his Iraq War addded $3 trillion to it. sandensea Oct 2018 #6
Your one bright cookie there Bolton you just figured this out turbinetree Oct 2018 #7
No 'sh*t,' Sherlock. elleng Oct 2018 #8
And I wonder who's to blame for most of it? sandensea Oct 2018 #13
Problem Solved - Super Rich Hide $21 Trillion Offshore, Study Says PaulX2 Oct 2018 #11
In just under 2 years trump has produced debt which is already 55% of the entire debt The Liberal Lion Oct 2018 #12
Just like mitch the bitch...and p. ryan Maxheader Oct 2018 #14
We are now borrowing Goodmax Oct 2018 #15
It's like Michael Mayers calling chefs knives a threat. nt Guy Whitey Corngood Oct 2018 #16
Ummm ... shouldn't he be screaming this in cheetolini's ear???? marble falls Oct 2018 #17
That degree in economics is paying off!11! Oh, wait... PSPS Oct 2018 #18
Thank god we just cut all those taxes then... meadowlander Oct 2018 #19
Really? My $75/mo taxcut is causing all these problems? OAITW r.2.0 Oct 2018 #20
so he really means tRump is a threat to the society! nt elmac Oct 2018 #21
Biggest threat to the nation though is the Repugnant party. cstanleytech Oct 2018 #22
So Bolton is calling for defense cuts? That's pretty much half of discretionary spending muriel_volestrangler Oct 2018 #23

olegramps

(8,200 posts)
10. Maybe people will wise up to the strategy behind the massive tax cuts.
Wed Oct 31, 2018, 04:52 PM
Oct 2018

The Republicans have had every progressive program in their gun sights for over fifty years. This was the simple strategy: drive up the debt and then call for balancing the budget with massive cuts to every progressive program. These include Social Security, Medicare, Medicaid, every program designed to aid the poor and they will not stop at starving children.

They are bastards, each and everyone. I despise the very ground that they crawled out of. It is time to take to the streets and raise holy hell. If the Democrats don't prevail on Nov 6th kiss you working ass goodbye. Everyone of these programs can be financed for decades to come with a fair and equitable tax on the wealthy who have robbed the working class blind. I also blame the stupid workers who bought the propaganda that unions were their enemy and backed their own destruction with their blind support of so-called Right-to-Work Laws.

mwooldri

(10,303 posts)
3. There are two ways to fight debt.
Wed Oct 31, 2018, 04:38 PM
Oct 2018

1. Increase income.
2. Decrease expenses.

Republicans have decreased income while increasing expenses. Not exactly a conservative practice, eh?

BeyondGeography

(39,374 posts)
4. It's the Republican debt
Wed Oct 31, 2018, 04:42 PM
Oct 2018

After the Reagan/Bush/Trump tax cuts, defense budgets and economic disasters that ran it up, clearly a name change is in order.

monmouth4

(9,705 posts)
5. We all know what "entitlements" are, i.e. Trump planing to his properties along with SS. Those
Wed Oct 31, 2018, 04:44 PM
Oct 2018

of fueling AFOne, paying for SS hotel stays, etc. That is an entitlement, not SS and other items we have paid into for years.

turbinetree

(24,703 posts)
7. Your one bright cookie there Bolton you just figured this out
Wed Oct 31, 2018, 04:45 PM
Oct 2018

or did the Russian's tell you to say that..........................asshole.....................and by the way.............. no shit Sherlock..................and its not entitlements that are doing this shit for brains, its your parties tax cuts.................... .



November 6, 2018 cannot get here fast enough............................vote

https://www.timeanddate.com/countdown/election?p0=263&iso=20181106T12&msg=2018%20Midterm%20Elections

 

PaulX2

(2,032 posts)
11. Problem Solved - Super Rich Hide $21 Trillion Offshore, Study Says
Wed Oct 31, 2018, 04:52 PM
Oct 2018
https://www.forbes.com/sites/frederickallen/2012/07/23/super-rich-hide-21-trillion-offshore-study-says/#2c53992e6ba6

Bolton this was in 2012. The article says they have up to 31 trillion. Possibly 50 trillion by today. They could pay the national debt off and never miss the money.

Tax them you pile of feces.

The Liberal Lion

(1,414 posts)
12. In just under 2 years trump has produced debt which is already 55% of the entire debt
Wed Oct 31, 2018, 04:53 PM
Oct 2018

produced by the Obama administration. If debt continues to rise at the same pace (barring any economic crises which could make it skyrocket) and some how this orange fuck goes 8 years, trump will beat Obama's debt by 220%. Obama had an economic crises to dig us out of, what's trump's excuse?

Being apolotical, however, the debt is a SERIOUS problem. it's unsustainable and will be the ruin of this country.

Goodmax

(9 posts)
15. We are now borrowing
Wed Oct 31, 2018, 05:45 PM
Oct 2018

800 billion dollars a year to give directly to the rich and the weapons makers.
Of course we have to cut social spending!

OAITW r.2.0

(24,504 posts)
20. Really? My $75/mo taxcut is causing all these problems?
Wed Oct 31, 2018, 06:39 PM
Oct 2018

Had I known, I'd have suggested that the taxcut not be implemented.

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