We are well on our way to $28 Trillion in debt right now. If there is to be a Biden Administration, you can pretty much count on that number being $34 Trillion by the end of four years. If there is to be a second term of Trump, you can pretty much count on that number being $34 Trillion by the end of it too.
BUT - more and more we are being told it doesn't matter.
Just a couple of weeks ago, Newsweek wrote this. "The International Monetary Fund (I.M.F.) and World Bank are among two institutions that have recommended that governments borrow to spend their way out of hardships caused by the pandemic.
"Only one thing matters — to be able to dare."
Kristalina Georgieva, head of the The World Bank's chief economist Carmen Reinhart recently told theFinancial Times that high government borrowing is justified in these circumstances. "While the disease is raging, what else are you going to do?" she told the paper. "First you worry about fighting the war, then you figure out how to pay for it."
And back in 2019 when the debt was a measly $22 Trillion, CNN had a piece called "Debt? What debt? At $22 trillion, here's the argument the national debt doesn't matter"
So I got to thinking... dangerous I know! If the debt and the size of the debt doesn't matter, why should we pay ANY taxes?
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