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View Full Version : Government adds $1.2T to the national public debt in 2015



Peter1469
12-23-2015, 10:56 PM
Government adds $1.2T to the national public debt in 2015 (http://www.al-monitor.com/pulse/originals/2015/12/saudi-nato-islamic-terrorism-isis-assad-sunni-shiite.html#) spread out over 10 years.

This debt is bipartisan. They ought to all be impeached for high crimes- knowingly bankrupting the US.


With debt already around its highest level (http://crfb.org/document/fy-2015-deficit-falls-435-billion-debt-continues-rise) as a share of Gross Domestic Product (GDP) other than around World War II and estimated to grow with no end in sight, the least one could have hoped for from lawmakers would be to stop digging the hole deeper. But 2015 proved even that low bar to be too lofty a goal. Instead, 2015 will go down as a banner year for fiscal irresponsibility, when policymakers worked across party lines to add nearly $1.2 trillion to the debt over the next ten years, digging the hole ever deeper.

By far the largest contributor was the year-end deal on tax extenders (http://crfb.org/blogs/fiscal-irresponsibility-tax-deal-6-charts), which was rolled together with the must-pass omnibus spending bill. The tax cut portion of the deal cost a total of $680 billion (http://crfb.org/blogs/negotiated-tax-deal-would-cost-about-650-billion)before interest, and the spending side included about $35 billion in spending gimmicks (http://crfb.org/blogs/omnibus-bill-falls-back-usual-budget-gimmicks). The unpaid-for "Doc Fix (http://crfb.org/blogs/basics-sgr-replacement-bill)" deal from April also significantly increased deficits, adding about $140 billion before interest over ten years. Take a look below at everything else policymakers did this year to add to the debt.









See the graphic at the link.

Ransom
12-24-2015, 09:19 AM
This 'doc fix' you speak to was taken out of the Obamacare cost estimates by the CBO and others. And merely added to the national debt. They wanted costs to come in at under a trillion over ten years for political optics thus submitted their own calculus.

That was passed on or near Christmas Eve wasn't it?

Not anyone ignoring you here Pete, the truth tends to quiet the pasture the reason our forum doesn't respond.

Pete, a very Merry Christmas to your and yours.

Peter1469
12-24-2015, 09:22 AM
Stories that bait people get the traffic.