[tomder55]

We have passed the point of no return . The debt spiral is unstoppable IMO .

The CBO illustrates the problem. They estimate that this year for the 1st time ;the money needed to service the US debt will be more than will be spent on either defense this year and Medicare by next year .

CBO: Federal Interest Payments Now Exceed Defense Spending (forbes.com)

It's a double whammy . Irresponsible spending coupled with increased interest rates due in large part to Bideninflation means that more money is required for debt service .

America is expected to spend $870 billion, or 3.1% of gross domestic product, on interest payments this year. That is nearly double the annual average of 1.6% of GDP since 2000. And interest costs are projected to reach 3.9% of GDP by2034 2034.

A $1 Trillion Conundrum: The U.S. Government’s Mounting Debt Bill - WSJ

The only good news out of the CBO report is that despite it's dysfunction ;Congress managed to pass a good bill this session ; the "Fiscal Responsibility Act and the Further Continuing Appropriations and Other Extensions Act of 2024.”

That is because ;despite the fact that it is a pork laden omnibus spending gimmee bill ;they did manage to add some restraints on discretionary spending .

Implementing the Statutory Limits on Discretionary Funding for Fiscal Year 2024 | Congressional Budget Office (cbo.gov)

In a saner world we would be able to sue the government for fiscal malfeasance. But since we elect these clowns ;our only case is against ourselves .

To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.
(Thomas Jefferson)