Federal Spending Factoid

[Ben]

Just heard a soundbyte on Maria Bartiromo's show: Fed.gov is on track to spend more this year than the previous 200 years combined. That almost says more about this year compared to the last ten or so years of ridiculous debt.

There just doesn't seem to be any way to stop this train anymore. Everytime Rand Paul brings it up, both sides call him a crackpot, just like they did his father before him.

[MechAg94]

And the voters overall don't seem to care.  You occasionally see it mentioned as a problem, but no one really cares to take it very far much less actually vote on it. 

[zxcvbob]

Just heard a soundbyte on Maria Bartiromo's show: Fed.gov is on track to spend more this year than the previous 200 years combined. That almost says more about this year compared to the last ten or so years of ridiculous debt.

There just doesn't seem to be any way to stop this train anymore. Everytime Rand Paul brings it up, both sides call him a crackpot, just like they did his father before him.

I've said this before; I think this is how they plan to steal boomers' retirement savings.  Outright theft would provoke some of us to start shooting.  So they are going to steal it through hyperinflation.  (banks will be protected, of course, depositors will be the ones who get screwed)

[charby]

Something isn't right with that quote in the OP or not in proper context.

In 2020, the government spent $6.55 trillion

from https://datalab.usaspending.gov/americas-finance-guide/spending/#:~:text=In%20Fiscal%20Year%202020%2C%20federal,that%20year%20(%2421.00%20trillion).

President Trump’s budget for FY 2021 totals $4.829 trillion, eclipsing all other previous budgets.

https://www.thebalance.com/u-s-federal-budget-breakdown-3305789

The federal budget deficit is projected to be $2.3 trillion in fiscal 2021, the Congressional Budget Office said.

https://www.cnbc.com/2021/02/11/deficit-projected-at-2point3-trillion-for-2021-not-counting-additional-stimulus-cbo-says.html

[dogmush]

Just heard a soundbyte on Maria Bartiromo's show: Fed.gov is on track to spend more this year than the previous 200 years combined. That almost says more about this year compared to the last ten or so years of ridiculous debt.

There just doesn't seem to be any way to stop this train anymore. Everytime Rand Paul brings it up, both sides call him a crackpot, just like they did his father before him.

No.  No, it's not.  I don't even have to integrate the curve in on this page to tell you that.

https://tradingeconomics.com/united-states/government-spending#:~:text=Government%20Spending%20in%20the%20United%20States%20averaged%202090.91%20USD%20Billion,the%20first%20quarter%20of%201950.

[Ben]

From my recording of the show:

"The national debt will swell to nearly $30 trillion if democrats push through the president's $1.9 trillion covid relief bill. Economists say that the package will grow the US budget deficit to $3.8 trillion in 2021 alone. That puts the government on track to spend more money in one year than the previous 200 years combined."

There was no banner or graphic to say where that came from.

[JTHunter]

Just imagine the cursing and name-calling that will be heaped on this generation by those that follow when they find out what their tax burden will be because of how this generation overspent. 
It won't be pretty.

[charby]

Just imagine the cursing and name-calling that will be heaped on this generation by those that follow when they find out what their tax burden will be because of how this generation overspent. 
It won't be pretty.

Instead of OK Boomer, its going to be FU Boomer