H. Con Res 14.

Do the Republicans in Congress have any sense of shame at all? The House of Representatives passed a resolution yesterday that guarantees annual deficits of $2 trillion every year between now and 2034 (technically, the House predicts deficits of $1.9 trillion in 2027 and 2029, but all up, that’s $20.2 trillion in NEW deficits, along with increasing the debt ceiling by $4 trillion.)

Without any debt reduction, total US government debt will be over $56 trillion by 2034. Republicans voted for this, even though the text of the CR itself acknowledges that this year’s $1.9 trillion deficit will be 6.2% of GDP and that $952 billion in net interest expense is 3.2$ of GDP. The text also acknowledges that 70% of the budget is made up of ‘mandatory spending’ for Social Security and Medicare and that ‘mandatory spending’ is up 59% since 2019.

It’s possible there are trillions of dollars worth of fraud in Social Security and Medicare that DOGE will uncover (and save). But it’s also possible that the bill for the Welfare/Warfare State is coming due over the next ten years and that there's no way we can pay it. We can’t grow fast enough to increase tax revenues. We can’t (or won’t) cut the programs that most contribute to the deficit (including and especially the firepower industry). And our Congress, even when led by nominal Republicans, kicks the can down the road yet again. As a reminder, you probably don’t own enough Bitcoin, gold or silver.

Source: Dan Denning