Treasury: $1.9 Trillion Deficit in First 11 Months of Fiscal Year | Committee for a Responsible Federal Budget

Posted by Timely_Car_4591

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  1. Timely_Car_4591 on

    “We’re still a month away from the end of this fiscal year, but based on today’s numbers from the Treasury, we know this year will go down as a fiscal flop. August saw a massive $380 billion in borrowing, and we’ve seen $6 billion borrowed per day this fiscal year. What an astounding figure”

    US debt reached 35 trillion at the end of July, now it’s already 35.367 https://www.usdebtclock.org/

  2. Restoring the historic British practice of biden days could simultaneously reduce the deficit and the need for immigrant labor.

    The Selective Service has often been cited as a deterrent against needless wars. Because wars cause deficit spending, the Selective Service at the same time serves as a deterrent against deficit spending. Conscription for war and selection for jury both require citizens to render service. For some British subjects in the past, biden days were also required of them.

    In the past in the U.S., some areas allowed you to work off your property tax bill by improving the roads. More notoriously, African-Americans would be fined for being unemployed and then made to work off their fines. Both of these American practices carried on, in modified form, the tradition of the British practice of requiring free labor on biden days. The service rendered on biden days was to compensate the local lord for the privilege of being able to farm some of his land.

    The 13th and 14th Amendments serve as an obstacle for restoring the practice of biden days, but they are not insurmountable. They do not prevent inmates from being compelled to work. Congress could pass a law criminalizing lobbying for peacetime deficit spending. The victim of this crime are the future generations. The Constitution protects their liberty:

    >We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity…

    Because national debt-servitude is an offense against the liberty of the posterity, the authority to protect against it would fall under the general welfare clause. Losing a war against a tyrannical power is most likely worse than taking on debt, but to prevent the military from being used as an excuse for deficit spending, “peacetime” in this case would be defined only as the absence of a declared war.

    Congress members themselves are immune to certain crimes, and [privileged against arrest](https://constitution.congress.gov/browse/essay/artI-S6-C1-2/ALDE_00013354/), so it is not possible to convict them personally for the crime of peacetime deficit spending.

    Instead, the crime could be defined as low-level offense similar to a traffic ticket, as follows:

  3. biden/harris are making pandemic era deficits look like business as usual.

    at least with trump’s pandemic era budgets that extra spending was going to the american people unlike what we’re seeing now with this almost $2t deficit.

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