Debt projected to reach 78 percent of GDP by the end of 2018, highest level since about 1950.

[Miles Archer]

Within 16 years, the federal deficit is expected to be the largest in history, outpacing even the fiscal shortfalls that followed World War II, according to Congressional Budget Office estimates.

Congress’ recent tax and spending laws — along with ballooning costs of programs like Social Security and Medicare — also are driving up the amount the government pays in interest on money borrowed to make up for the gap in cash coming in and going out.

Debt is projected to reach 78 percent of gross domestic product by the end of this year — the highest level since about 1950.

At this rate, that debt would actually exceed the size of the economy within a decade, breaking the historic record of 106 percent by 2034.

https://www.politico.com/story/2018/06/26/cbo-federal-deficit-break-records-651929

[lame54]

1. The good ole 50's...

Or republican fantasyland

[manor321]

2. No problem

Just eliminate Medicare, Medicaid, Social Security, food stamps, unemployment insurance, fuel assistance programs, etc.

After all, that's what Republican voters have been voting for for decades. Isn't it about time they got what they asked for?

[InAbLuEsTaTe]

4. You can count on it if people stand by and do nothing. Resist we must!!

[Iliyah]

5. It would be a slow process so that the GOP can continue to

take out for those programs thru people's paychecks and also slowly injecting more taxes on people's checks so when the programs are finally eliminated the high taxes will be in placed while given more tax breaks to the wealthy. I think that is their logic.


But I don 't think we will get there because the economy will probably fall down.

[Freethinker65]

3. Trump could declare bankruptcy and sell the US to vulture capitalists (foreign and/or domestic)

They in turn could take on more debt while selling all assets worth anything.

Then they could leave the shell of what is left, with the debt, to the tax paying citizens to pay off through pay as you go austerity programs.

Privatize the gains, socialize the losses.

No. I do not think it will get that far. Too many now wealthy people would lose out. Then again, I never thought Trump would win.

[dixiegrrrrl]

6. Didn't that happen to Greece 10 years ago?

which led to the bailouts?
and Spain?

Not a new plan, the mob has been doing it for years, stealing from businesses, getting loans they don't pay back, then torching the place for the insurance.
wait..that's Trump's model too, if you replace the fire with bankruptcy.

[roamer65]

7. Inflate or die.

In 20 years, your SS check will maybe buy you a cup of coffee.

[ProudLib72]

8. 40% flat tax rate on the 1%, no loopholes

Simple.

If anyone has a hissy fit, I'll find Buffett's quote about how a high tax will not stop the wealthy from investing.