Chuck Preecs @cpreecs
Joined March 2010-
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Following870
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"No economy can outrun math." youtube.com/watch?v=FsNaWe…
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We are a bunch of doofs if we think passing HR 10545 was a win for Americans. Its much better than the original CR but its a near $3 trillion spending bill to be spent in less than 6 months. #USCongress, this level of spending has got to stop before we cannot return from it.…
Chuck Preecs retweeted
Rep. Tim Burchett says single-issue spending bills need to start being the new normal in Washington justthenews.com/government/con…
I agree with spending cuts, econ growth and tax reforms but we need structural changes or else this will just happen over and over again. And eventually, it will be too late to correct. #ArticleV econotimes.com/How-does-Donal…
Chuck Preecs retweeted
The US government’s debt load is now seen as the biggest risk to financial stability. Even more than inflation. trib.al/aUuiiwJ
Chuck Preecs retweeted
💸 Interest costs have nearly tripled since 2020, the final Monthly Treasury Statement for FY 2024 shows. Net interest costs totaled $882 billion in FY 2024 (⬆️$223B over FY 2023). We spent more on interest on the national debt in FY 2024 than national defense or Medicare. 🔗:…
Chuck Preecs retweeted
It was only July 28, 2024 we reached $35 trillion for the US national debt. Now about 100 days later we are at $36 trillion in debt. Interest on the national is on pace for $1.4 trillion for the 2025 fiscal year. About 25% of US govt revenue will go to pay interest on the debt.
Chuck Preecs retweeted
@TheRabbitHole84 Debt to GDP ratio is another valuable metric that doesn’t have inflation as a factor. If we have high GDP, the ratio goes down because we can collect taxes on economic activity. In 2008/2009 it skyrocketed. Once the economy recovered, we should have worked to pay it back down to…
Chuck Preecs retweeted
Immediate action is needed to stop the de facto bankruptcy of America
Immediate action is needed to stop the de facto bankruptcy of America
Ok, time to end the silence. We've got to get the federal debt fixed. It is the threat to our children's future.
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