The Mercatus Center has reviewed the budget projections released by the Obama Administration, it reports that over the next 10 years they expect to take $44 trillion in taxes and fees while spending $50 trillion.
The total debt by 2025 is predicted to be $20 trillion.
These numbers are being put out there by a bunch of lying liars, so I’d hedge my bet by at least another $3 or $4 trillion to debt.
Look at that second graphic and you’ll see the power of wishful thinking.
$18.3T is the current debt. $20T by 20..25?
HAHA.. LOL..OMG please make it stop.
my sides, really, they hurt.
$20T in 2016!
“officially”
We’ll be insolvent by 2025.
This is assuming real actual growth, not bullshit on paper.
We are expected to close 2015 with $18.628T in federal debt. The states combined add another $1.153T and local debt adds $1.913 or a total of $21.694T for the end of 2015.
I don’t believe we are really actually growing. I believe we’ve made up growth via inflation targets, but that will only last so long.
And dont forget about the $100+ trillion in unfunded liabilities.
Building utopias in a tub with a huge hole. “Patch it!”…”No, the hole doesn’t exist and is a figment of your imagination.” This will invariably cause future children to hate their parents for getting stuck with the bill. Maybe those children will rise to be razor sharp conservatives, like those great folks from the Great Depression.
Stop subsidizing politicians.