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I've added a new entry to my book, "From My Mind to...."  : "Upgrade or Maintain?" I'd like to have a new car, but can I justify the cost? |
| I think I need some help with the math here. I read today that Treasury Secretary Scott Bessent, who is reportedly worth between $700M and $1.3B, said that the current administration is looking to pay down the Federal Deficit with income received from the tariffs. To date (18 Aug 2025), the US has collected $133B and is expected to take in $300B by year's end. The National Debt is in excess of $29Trillion, with the estimated interest payments alone at $1T for 2025. This is just under $3000.00 for each man, woman, AND child in the United States for the interest alone this year. How is $300B going to help? Perhaps it's that "new math." And no, this is not just a Republican or a Democrat matter--it's an EVERYONE matter. Thus, my political rants of the week end. |
RANT AHEAD: US Treatment of Ukraine This rant is just my personal opinion, and does not reflect that of Writing.Com or its affiliates. Sorry, but I'm NOT sorry! I'm embarrassed that I'm an American right now. We have a President claiming to be for peace and yet sucks up to the Russian President at every opportunity. President Trump cannot admit that Putin invaded Ukraine and is responsible for killing thousands of civilians. The World, except the US apparently, brands Putin as a War Criminal (International Criminal Court (ICC) against Putin in March 2023). We, in turn, host him on American soil, treating him with all deference. Do you suppose all the European leaders who came to Washington yesterday had nothing better to do in their own countries? They did. But they came to support Ukraine and its people. And Pres. Trump tells Pres. Zelenskyy that he'll have to give up some of his territory for peace? Ok, I'll stop. |
| I've added a just a question entry to my book, "From My Mind to...." : "Historic Meeting Today" Time for the US to man up and support fellow democratic countries against authoritarian aggressors. |
| I've added a new entry to my book, "From My Mind to...." : "Quality of Life" And I wish to thank ALL the folks who wished me well, posted comments and C-Notes, and gave me merit badges and reviews on my actual birthday yesterday. Now I'm entrenched in my 70's and moving forward. That 'new' saying "being in my 20's during the 70's was much better than being in my 70's during the 20's" is not entirely true, IMHO. |
| I've added a new entry to my book, "From My Mind to...." : "Turning 71 and Heading for More" I don't know what the family has planned for me, but I've a few things to do today on WDC in honor of my birthday. |
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Happy Birthday, Jace! 
This is just a much larger scale. $300B by the end of the year might get that $29T down to $28T. Yes, I realize that the Interest Payments alone take it higher each year. Doing nothing about it will not solve the problem, we have to do something. Plus, there is no way the National Debt can be erased immediately. This is just money from the Tariff's. It seems there are other ways to bring it down, heck I don't know. I'm just an old man with no experience in debt relief. What do I know?
If deficit reduction is going to be a priority for this country, there's not a lot we can do about interest... but we can do something about how much we're adding to it, and we can do something about the amount of revenue the government generates and applies toward the deficit.
IMO, my issue with the deficit as a political issue is that it's used as a cudgel for the party that's out of power to complain about the policies of their rivals in power... but then everyone conveniently forgets about prioritizing paying down the debt when they're in power.
When Democrats are in charge, they tend to spend money on government programs (and thus increase the deficit).
When Republicans are in charge, they tend to cut taxes (and thus decrease the amount of revenue available to pay down the deficit).
Deficit reduction is going to require people to be an adults about the situation and, as you indicated, accept the realities of some very basic math: paying off debt means spending less, earning more and putting it toward paying your bills, or both.
You're also right about the party out of power complaining about the policies of the other party, and how they conveniently forget about things when they're in power. What gets me is that they will tell how we should manage money, but they can't do what they preach. If our children did this at a playground.... SMH over that idea. I have no answers really, I said that already. The answers are our there, we need a true leader. Easier said than done.