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Welcome to the official home and wonderful world of Pulitzer Prize Winning Political Cartoonist Michael P. Ramirez, daily editorial cartoonist for the Las Vegas Review Journal |
National Emergency 02-16-19
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Speaking of a national emergency....
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Join Michael at CPAC 2019!
Our National Debt Just Hit $22 Trillion. Will Congress Finally Take It Seriously?Feb 14th, 2019 HERITAGE FOUNDATION
COMMENTARY BY Justin Bogie@JustinBogie Senior Policy Analyst in Fiscal Affairs KEY TAKEAWAYS$22 trillion. Let that huge number sink in. It’s the gross national debt reported Monday by the Treasury Department. The CBO’s latest budget and economic projections estimate that over the next decade the country will add another $12.2 trillion in debt. The national debt is a bipartisan problem. If left unchecked, it will hurt all Americans regardless of race, gender, or political beliefs. Wow. $22 trillion. Let that huge number sink in. It’s the gross national debt reported Monday by the Treasury Department. The question is, now that we have crossed this inauspicious threshold, will Congress finally get serious about changing the nation’s budget course? For years, the Congressional Budget Office has warned that America’s growing debt is unsustainable, and eventually the repercussions will affect all Americans. Unfortunately, most lawmakers haven’t been paying attention. Instead of implementing reforms to fix the debt problem, Congress largely has ignored it and gone out of its way to avoid making tough budget decisions. The impact of a breathtaking number like $22 trillion is hard to comprehend without context. At more than 107 percent of gross domestic product, as a share of the economy the gross national debt is higher than it has been since 1947. The debt has been higher only three times in U.S. history, all in the immediate aftermath of World War II. If the national debt were divided among every person in the U.S., each of us would owe more than $67,000. Although those numbers are staggering, they are projected to get worse. read more |
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