What Did You Get For $30 Trillion In Debt?
Posted by freedomforall 6 hours, 14 minutes ago to Government
Excerpt:
"Going back to 1999 when the government was actually paying it down, the US national debt was about $5.5 trillion. That’s an increase of $30+ trillion in 26 years.
What exactly did America get for that $30 trillion? Well, there was a very, very long and expensive war in Iraq and Afghanistan… which ended abruptly when Joe Biden decided to abandon tens of billions of dollars of military equipment to the Taliban.
There was an enormous bailout of the financial system in 2008. And then a historic series of bailouts and spending bonanzas during COVID.
But is the average American any better off? Is the US more secure, more powerful, more free, more affordable, more prosperous, and safer as a result of all that debt? I think the answer is clearly no. In fact, quite the opposite.
Despite $30+ trillion in debt, crime is far more rampant. Critical infrastructure is crumbling. Long-term inflation has made life largely unaffordable for the middle class. Housing prices are astronomical. Food prices are unrecognizable. New cars cost nearly as much as a small house used to. University can cost six figures annually.
And while medical care was never a bargain, it is now prohibitively expensive. Plus, insurance costs continue rising.
$30+ trillion should have been enough to do everything. And yet there is realistically nothing positive to show for that money."
"Going back to 1999 when the government was actually paying it down, the US national debt was about $5.5 trillion. That’s an increase of $30+ trillion in 26 years.
What exactly did America get for that $30 trillion? Well, there was a very, very long and expensive war in Iraq and Afghanistan… which ended abruptly when Joe Biden decided to abandon tens of billions of dollars of military equipment to the Taliban.
There was an enormous bailout of the financial system in 2008. And then a historic series of bailouts and spending bonanzas during COVID.
But is the average American any better off? Is the US more secure, more powerful, more free, more affordable, more prosperous, and safer as a result of all that debt? I think the answer is clearly no. In fact, quite the opposite.
Despite $30+ trillion in debt, crime is far more rampant. Critical infrastructure is crumbling. Long-term inflation has made life largely unaffordable for the middle class. Housing prices are astronomical. Food prices are unrecognizable. New cars cost nearly as much as a small house used to. University can cost six figures annually.
And while medical care was never a bargain, it is now prohibitively expensive. Plus, insurance costs continue rising.
$30+ trillion should have been enough to do everything. And yet there is realistically nothing positive to show for that money."
