02/24/2024 – “What do you know!; A political leader with both wisdom and courage!: Javier Milei, Argentina. // see attached link to article
Milei delivered a Jan24 budget with that was in surplus for the first time in 12 years. Question: When was the last time the U.S.A. had a balanced budget? For you Trump fans out there, Trump said he is going to give us a tax cut (*), increase defense spending, rebuild our cities, and not cut future medicare and social security projected spending.
(*) – FYi, over 40% of U.S. taxpayers do not pay anything in Federal income taxes.
The U.S. current debt of $ 34 Trillion amounts to $ 265,000 per taxpayer. Federal spending amounts to $ 6.4 Trillion per year, with a deficit shortfall of $1.9 Trillion. If you must take Social Security, Medicare and Interest on the Debt, you get roughly 3.8 Trillion, or 59% of “non-discretionary spending on just those three categories. Interest on the debt is on a geometric compounding curve, so the rate of increase gets uglier at a faster rate.
See attached U.S. debt clock in real time with a plethora of metrics in one screen: