That Debt Ceiling Feeling

By June 1, the US could be out of funds, and our politicians are still trying to figure out how to blame each other instead of finding a solution.

The US debt idea was created in 1917 for President Wilson to spend the money needed for WWI, without waiting for lawmakers to act.  At that time the ceiling was set to $11.5B.

It was last increased in 2021, to a whopping $31.38 Trillion!

Fast forward to today where we are threatened with the US default, potentially leading to markets plunging, destruction of retirement savings, rising interest rates, inflation, and severe cuts in federal programs.

They say if nothing changes in 25-30 years, every American will have to spend 50% of their pay on paying the national debt interest only!  I don’t see how I can make that work, since I already use 50% of my pay on my personal debt!

I’m so poor, I never even went to college, but I’m still paying off Traffic School loan interests from 4 years ago.  My after-pandemic pay was cut 25%, but my rent was increased by 25%.  Even Dollar General increased their prices by 25% which was the final insult.  Now it’s tougher to eat their steaks, and that’s really hard to swallow.

There’s a big fight in the coming week about cutting spending vs raising taxes on Billionaires.  I say do both damn it!

Government must stop using ANY credit!  They should do what we have to do. Cut all credit methods, and give all government employees cash only.  That’s right.  And if they run out of cash for the period, they can’t spend anymore.  This is what we have to do and it was highly recommended by Oprah, or Jenny Craig, or both.  I don’t remember.

As for the rich, I say tax them 100% of their earnings every year, if they have over $100M.  Whatever they make, they have to give it all up!  And they have to go from Billionaires to under $100 Millionaires and then start over.  If they are such “hot shots” then they can figure it out all over again.

Meanwhile, everyone who makes less than $1M year should get ALL their loans forgiven.  That seems fair right?  And we should all get free ice cream and bacon, anytime, anywhere, as long as we can prove we don’t have a million dollars.  And also, free Netflix, because that would be economical gravy we all have a right to.

Johnnie Cochran Jr agrees with me and said this about forgiving all personal debt:

“If the whole country’s in debt, you must reset!”

(*That was a paid response from JC Jr.  Full disclosure.  But not a lot, I just had to cook him a Dollar General steak.  He’s fallen on hard times along with the rest of us).