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The Department of Treasury is issuing record levels of debt, with $7 trillion issued in just 3 months and $23 trillion in a year. This has bloated the treasury market, raising concerns about a potential crash. The economy is propped up by debt, with federal debt rising by $1 trillion every 90 days. US treasuries are seen as cash but are actually promises to pay back in the future. The illusion that all debt will be repaid is crucial, as any doubts could lead to a financial system collapse. Fiscal trends are worsening, with a $2 trillion deficit that will increase during a recession. Collapse seems inevitable without intervention. Visit profsaintonj.com for more details.

The federal government is overspending, with deficits hitting record highs due to wars, welfare, and interest on debt. Tax revenue is not keeping up with spending, leading to a ballooning national debt. Interest payments on debt are consuming a large portion of tax revenue, making the situation unsustainable. The government shows no signs of cutting spending, leading to predictions of inflation, defaults, and debt crises in the future. This financial Ponzi scheme could end in disaster if not addressed soon.

Over the past two decades, the national debt in the United States has skyrocketed. In the year 2000, it was $5 trillion, but under Republican President George W. Bush and Democratic President Barack Obama, it doubled twice, reaching $20 trillion by the end of Obama's term. In the last six years, with both Republican and Democratic presidents, the debt has grown to $31.5 trillion. This level of spending is unsustainable and has led to inflation and rising costs for everyday items. The debt ceiling, which is coming up, has historically been used as leverage to force spending reforms. It is important to note that defaulting on the debt is not an option, as there is sufficient revenue to cover interest payments. The Republicans aim to use the debt ceiling as a tool for meaningful structural reforms to address the underlying problem. Joe Biden's refusal to negotiate is unreasonable, and the press should not simply repeat partisan talking points. Biden's recent State of the Union speech was disappointing, angry, and divisive. He failed to take responsibility for policy failures, such as inflation and the border crisis. The speech could have been an opportunity for Biden to reach out to the new Republican majority, but instead, he doubled down on failed policies. The removal or weakening of the blue slip, a senator's ability to influence judicial appointments in their state, would be detrimental to the institution of the Senate. The prediction that weakening the Senate's filibuster for judges would result in more conservative Supreme Court justices has proven true. Democrats were willing to prioritize partisan politics over the integrity of the Senate.

People with TDS or EDS will slander anyone, and the truth doesn't matter to them. During Obama's second term, the deficit increased by $3.5 trillion. Under Trump, the deficit increased by $7.8 trillion due to the pandemic, which cost $3.6 trillion. $1.9 trillion of that deficit came from tax cuts, which put money back into the American people's pockets. At the rate our deficit is increasing, our government and our country is on pace for economic collapse. Trump and Elon are trying to fix this. If we don't change something, the only thing our government will eventually be able to commit money to is servicing debt, meaning no federal employees are getting paid, no SNAP benefits, no food stamps, no section eight, no Social Security. Do not listen to these fearmongers.

A certain senator, Elizabeth Warren, wanted to get rid of the debt ceiling, which the speaker calls the debt extension. Many Democrats agree with this. The speaker says that Democrats gave them the debt ceiling issue just before the election, which would have had a huge impact on the election. Elizabeth Warren wanted to see the debt ceiling terminated her whole career because it's so catastrophic for the country, and the speaker always agreed with her on that. The speaker hasn't spoken to her, but thinks if asked now, she'd say no because it's their problem. The speaker believes the debt ceiling should be gotten rid of or simply extended. The current bill automatically extends it for a four-year period, which it should. The speaker agrees with Elizabeth Warren that it should be gotten rid of because it's too catastrophic.

Politicians promise more "free stuff," leading to deficit spending, where the government spends more than it earns. To cover this, the Treasury borrows money by issuing bonds, which are essentially IOUs. These Treasury bonds constitute the national debt, requiring repayment by current and future taxpayers through taxation. Therefore, issuing bonds allows the government to spend today by stealing prosperity from the future. The Treasury then conducts a bond auction involving the world's largest banks.

Republicans cheered after winning a Senate vote that will take away healthcare from around 17,000,000 people, give tax breaks to billionaires, and increase the national debt by $3.5 trillion. The bill is economically and morally bad, but the fight continues. Democrats were able to improve some aspects of the bill, such as removing the tax on solar and wind. The bill now goes to the House, where some Republicans are uneasy. In November 2026, those who voted for the bill will have to face voters and explain their actions. The fight continues because it is the right thing to do.

Conservatives in the House are worried the Senate will "jam" them with a bill different from what they passed on May 22. The Senate version of the bill is projected to increase the deficit with a debt ceiling increase of about $5 trillion, which is much higher than the House debt ceiling increase. It is believed they will hit the debt ceiling in early August, though the Congressional Budget Office estimates mid-August to maybe September. The deadline to pass the bill is July 4. Key features of the bill include new restrictions on Medicaid qualification.

The national debt is projected to reach $144 trillion in 30 years, causing concern about its impact on the economy. The US federal government is on an unsustainable fiscal path as the debt grows faster than the economy. Borrowing from future generations is worrisome, and it's crucial to prioritize fiscal sustainability sooner rather than later. Two important factors for American prosperity are the dynamic and innovative economy, which sets it apart from other countries, and the role of the United States as the leading voice in supporting and defending democracy and security arrangements globally. Politics does not influence the Federal Reserve's decisions on timing, as incorporating politics could lead to worse economic outcomes. The Federal Reserve values integrity and plans to maintain it.

The Federal deficit is much larger than reported due to the way Biden's team hid student loan cancellations. The deficit for the previous fiscal year was $1.7 trillion, a 20% increase from the previous year. However, the actual increase was $600 billion, making the deficit $2 trillion. This puts the US on track to be $45 trillion in debt by 2033 and $144 trillion by 2053. Debt service, recessions, and wars further contribute to the deficit. Debt service costs are rising, recessions increase spending and decrease tax revenue, and wars add to the financial burden. With additional plans for global warming funds, corporate welfare, and welcoming illegal immigrants, the Treasury will continue to be looted until there are consequences.

Borrowing more money to send to Ukraine is irresponsible and weakens us. Congress doesn't care about the debt because it's not their money. Milton Friedman's statement holds true: nobody spends someone else's money as wisely as their own. The big spenders in Congress won't use their own money. Americans should take notice and blame these wasteful spenders.

Congress released a 1,012-page bill with a $1 trillion price tag full of questionable spending. Examples include $850,000 for a gay senior citizen home in Boston, $15 million for Egyptian college tuition, and $400,000 for a group teaching elementary school kids about being trans. Even a posthumous earmark for Dianne Feinstein. The bill also includes $500,000 for an anti-racist nature program at the San Diego Zoo. This bill, signed by Biden, will spend taxpayer money recklessly.

While Americans were celebrating Memorial Day, Washington was making another debt-increasing deal with no real changes. This bill has no cap on raising the debt and we don't know the exact number. It might cut $12 billion in year 1, but that's not worth the $4 trillion it adds. The bill keeps Biden's policies and spending intact, including the Green New Deal subsidies that could harm the electric grid. Republicans should not vote for this bill because it doesn't demand renegotiation and doesn't address the border issue. Democrats are supporting it because it doesn't change their policies or spending. Republicans should vote no and find a better deal.

The GOP is considering a bill that adds $2.5 trillion to the debt, facing internal opposition from Republicans prioritizing cost-cutting. This bill is considered the second half of Donald Trump's agenda, following his executive actions and tariffs. It aims to make tax cuts permanent, cut additional taxes, and deregulate energy. Trump's influence is expected to drive its passage, despite friction between the "new Trump DNA" and the "old Republican Tea Party DNA." The bill's success is crucial for Trump's economic vision, as he needs the tax cuts and deregulation. Failure to pass the bill is not an option for Republicans, as Trump's agenda depends on it. Trump is aware that he has a finite amount of time to enact his agenda, so he is trying to accomplish many things at once.

We don't have any extra money to send to Ukraine, considering our massive deficit of over $1.5 trillion. Borrowing money from China to support Ukraine doesn't make sense. We don't have a rainy day fund with trillions of dollars just sitting around. Instead, we would have to borrow the money, which leads to inflation. Since Russia's war in Ukraine began, American taxpayers have already provided $113 billion to Ukraine. We have many issues in our own country that need attention before we borrow more money to fuel a war in another nation.

Scott and Mike Pence, both Republicans, voted to raise the debt, while Donald Trump added a staggering $8 trillion to our national debt. This is a burden our children will bear. Looking at the 2024 budget, Republicans requested $7.4 billion in earmarks, while Democrats asked for a mere $800 million. It's clear that the Republicans are the big spenders. We need an accountant in the White House to address this issue.

The speaker opposes attaching the SAVE Act to the continuing resolution (CR), calling it a repetitive tactic that results in a clean CR after Senate removal. Passing the SAVE Act would lead to excessive spending: $6.3 billion a day, $3 billion in interest, and $77,000 per second, increasing the $36 trillion debt. Interest payments could exceed the annual national defense spending. The CR also restricts new military programs. The speaker notes that 73% of appropriations have passed, with 27% remaining. The speaker questions the point of passing the SAVE Act if the Senate won't consider it or HR 2 to secure the borders. The speaker claims adding debt will cause inflation, harming the middle and lower classes. The speaker is willing to shut down the government or the border to protect elections.

More than 25% of the annual federal deficit is spent taking care of illegal immigrants. In 2023, the total outlay was $6.1 trillion, the total revenue was $4.4 trillion, and the federal deficit was $1.7 trillion. In 2023, $451 billion was spent taking care of illegal immigrants, which is 26.5% of the $1.7 trillion deficit. If the border was secure and there was control over who enters the country, 26.5% could be cut from the deficit. This is especially important because the money is borrowed, meaning interest will be paid on it. In 2023, $451 billion was borrowed to support illegals, and interest will be paid on that amount.

America is going bankrupt quickly, but nobody seems to notice. The Defense Department budget is a trillion dollars a year. Interest payments on the national debt have exceeded the Defense Department budget and are over a trillion dollars a year and rising. The U.S. is adding a trillion dollars to the debt every three months, soon to be every two months, then every month. Eventually, the only thing the U.S. will be able to pay is interest. This situation is like a person with too much credit card debt and does not have a good ending. Spending must be reduced.

The speakers discuss a sharp warning signal they see in precious metals and the implications for the broader economy. Speaker 0 notes that gold prices have more than doubled in the last year and silver prices have nearly tripled. They interpret this as a major warning of an impending financial and economic crisis. They compare this to the subprime crisis warning in 2007, when Ben Bernanke said the issue was contained to subprime and many did not grasp its significance. The speaker explains they were short the market and anticipated the crisis, which subsequently materialized about a year later. Based on the current situation, they believe gold and silver’s rise signals a forthcoming dollar crisis and a US Treasury crisis, suggesting it could hit next year and emphasizing that people need to take action while there is time. The core message is that the metal price increases are not merely inflationary signals but warnings of structural vulnerabilities in US sovereign credit and the dollar, with a potentially tight timeframe for response. Speaker 1 adds that a significant portion of our debt remains sustainable in part because we can trade global currencies, which allows politicians to continue spending more than would otherwise be possible. This point underscores how the international currency system enables higher debt levels and ongoing fiscal expansion, contributing to the conditions that the speakers warn about. Key assertions include: 1) gold and silver surges reflect a looming US dollar and US Treasury crisis rather than just typical commodity inflation; 2) the crisis could emerge within a short horizon, possibly next year; 3) historical parallel to the 2007 subprime episode is used to support the claim that seemingly contained problems can escalate into a major crisis; 4) the global currency system’s flexibility enables continued high spending, contributing to fiscal vulnerabilities. The overall message is a warning to prepare for a potential financial crisis tied to sovereign credit and dollar stability, emphasizing swift consideration of actions in light of the perceived urgency.

We are working to cut a trillion dollars from the deficit because if we don't get the deficit under control, America will go bankrupt. A country is no different than an individual. If you overspend, you will go bankrupt, and the massive waste and abuse that has been going on has led to a $2 trillion a year deficit. That is what the President was handed on January 20th: a $2 trillion deficit. It's insane.

Justin Trudeau claims he doesn't need to explain how he will fund his promises, suggesting that the budget will balance itself. However, he has now acknowledged that he will run a modest deficit for three years, which he describes as so small it’s barely noticeable. This modest deficit is projected to be around $10 billion each year. We've seen similar situations before, particularly in Ontario, where modest deficits have led to significant financial issues.

The speaker states that supporting US consumers is the reason for their actions, which are part of the dollar being a reserve currency. Regarding the US fiscal situation, the speaker acknowledges that US federal debt is on an unsustainable path, but not at an unsustainable level currently, and the limit is unknown. They state that the US is running very large deficits at full employment, which needs to be addressed sooner rather than later. The largest and fastest-growing parts of federal spending are Medicare, Medicaid, Social Security, and interest payments, requiring bipartisan solutions. Domestic discretionary spending is a small and declining percentage of federal spending.

Speaker 0 argues Republicans pretend to care about the debt but vote for all the spending: "We're gonna expand Social Security by a $100,000,000,000." "Social Security's already going bankrupt." He warns of "cataclysmic" events and a possible loss of confidence in the dollar. Speaker 1 adds: "The US right now is paying a trillion dollars a year just for the interest on its debt, which is about $36,000,000,000,000." They discuss three scenarios—"deflating the currency," "domestic unrest," and "war"—and a possible bond-market collapse. The plan: a "penny plan"—"1% cut" rising to a 6% across-the-board reduction, with "means testing," raising the Social Security/Medicare age, and capping Obamacare expansion by shifting Medicaid costs to the states. He praises Elon Musk and opposes ending legal immigration as "morons."