America has had its first-ever bond auction where there were no buyers... - Granite Grok

America has had its first-ever bond auction where there were no buyers…

US Debt

You can pay me now or you will pay me later. That’s what your mechanic will tell you when you bring your car in. We pay for the maintenance now or we pay for the repairs later. But we are going to pay. The question is only how much and when. Is increasing national debt a good idea? And if so, how much is too much?

The federal government is contemplating stimulus packages to respond to the Kung Flu outbreak. That package is likely to increase the deficit to $2 trillion this year. That means we could close 2020 with a National debt of about $25 trillion. There are plans for adding up to $5 trillion to the national debt.

We can argue whether it might be necessary to run up the deficit. Maybe to get everyone through the next few months it is necessary… maybe. But the past irresponsibility of our federal officials is making this stimulus package far more risky than it should be. And no one is talking about that.

If you are panicked there is no price you won’t pay for security

Running up the deficit and debt during the latest economic boom is making it much harder to respond to this crisis. It isn’t like we have not had pandemics before. There’s every reason to expect we will see more in the future. Even scientists in the field acknowledge that. Is it really necessary to financially exhaust America because the fear level is through the roof? That isn’t the responsible thing to do.

Since the start of the Wuhan virus pandemic, America has had its first-ever bond auction where there were no buyers. They held an auction for the debt we need to refinance and nobody in the world, nobody, would buy anything. The result was the Federal Reserve bought the whole offering. That has to tell us something… wakey, wakey… sleepyhead…. wake up and smell the coffee.

Think about what is going on. Do you think America is the only country war gaming biological and economic attacks? Do you think the Chinese are buying up the cheap oil to help jumpstart their economy? Who is gaining in all of this? What are they gaining? Who is losing, why are they losing and what are they losing? Just think about what is going on around you… it’s called situational awareness.

Let’s take off the dunce cap

It is time for progressives to drop the open borders male bovine excrement. We need to consider Americans first. If America cannot defend its own, then it won’t be able to help others. It’s the same reasoning they give you when you fly. Put on your own oxygen mask first, then you can help others.

It is time to quit with the Tinker Bell economics. We cannot afford free everything for everybody. Not free college, not free healthcare, none of it. If something has value its maker is going to want something in exchange for it. You would, wouldn’t you?

We have so much debt we will not grow our way out of it. It just isn’t going to happen. We are approaching a Cloward and Piven moment. Progressives know exactly what that is and the rest of you should too. Look it up. It is time to take off the dunce cap, straighten up and pay attention.

Conclusion

Scientists believe this won’t be the last pandemic. When the next one hits, our country needs to be on better financial footing. Should we be giving politicians in an election year a signed blank check? Is increasing national debt a good idea? And if so, how much is too much? You can pay me now or you will pay me later.