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 governments 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 problems 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
hibbing
(10,098 posts)olegramps
(8,200 posts)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.
Watchfoxheadexplodes
(3,496 posts). Bolton Calls trump 'Economic Threat' to U.S.
mwooldri
(10,303 posts)1. Increase income.
2. Decrease expenses.
Republicans have decreased income while increasing expenses. Not exactly a conservative practice, eh?
Arger68
(679 posts)40 years now.
BeyondGeography
(39,374 posts)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)of fueling AFOne, paying for SS hotel stays, etc. That is an entitlement, not SS and other items we have paid into for years.
sandensea
(21,635 posts)That's what they meant by 'Cost-Plus'.
turbinetree
(24,703 posts)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
elleng
(130,914 posts)sandensea
(21,635 posts)PaulX2
(2,032 posts)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)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.
Maxheader
(4,373 posts)dismantle ss...medicaid and medicare...starve granny...
Goodmax
(9 posts)800 billion dollars a year to give directly to the rich and the weapons makers.
Of course we have to cut social spending!
Guy Whitey Corngood
(26,501 posts)marble falls
(57,096 posts)PSPS
(13,599 posts)meadowlander
(4,395 posts)Oh wait...
OAITW r.2.0
(24,504 posts)Had I known, I'd have suggested that the taxcut not be implemented.