20220809 - Liberty Minute

Drastic measures are needed. I'm Peter Serefine, and this is today's Liberty Minute. The current national debt is almost $31 Trillion. Let's give that some perspective. If our government suddenly managed to pass a balanced budget AND paid $1 billion on the principle of the national debt annually, it would take over 30,000 years to pay it off. The federal government revenue is almost $4.5 trillion. $2.5 trillion, or 55%, goes to Medicare and Social Security, leaving $2 trillion for EVERYTHING else. The reality is that we add $1.5 trillion to the debt every year. You don't need to be an economic genius to figure out that this spending cannot last forever. These little deficit reductions just aren't sufficient. Massive financial accountability is needed. Literally, trillions of dollars need to be cut from the federal budget. Find more news and commentary at Liberty-Lighthouse.com Until tomorrow, si vis pacem, Para Bellum