Debt and Deficits
The national debt currently exceeds $32.4 trillion, and is increasing at least $100 million every hour.
As the government becomes more comfortable throwing around dollar amounts in the millions, billions, and trillions, it’s very important to really grasp the VAST difference between these amounts.
Since it’s easier to imagine an amount of time, rather than a large pile of money, here’s a handy breakdown of just how large $32.4 trillion is.
One Hundred Seconds = 1.6 minutes
One Thousand Seconds = 16.6 minutes
One Million Seconds = 12 Days
One Billion Seconds = 31 Years
One Trillion Seconds = 31,688 years
Twenty Seven Trillion Seconds = 855,576 years
One light year is six trillion miles. Meaning our national debt equates to about 5.4 light years if it were in miles.
This is not sustainable and it is unfair to our children and grandchildren who will have to face the consequences of our out-of-control spending. The deficit is caused by a spending problem, not a problem of taxing too little. Government programs and agencies deserve constant evaluation of how dollars are spent, if they’re being spent efficiently, and if clearly-defined goals are being met. The federal government must be a responsible steward of taxpayer dollars, and eliminate any federal programs found wasteful, redundant, unsuccessful, or unnecessary.
The Trump Administration’s actions to pass historic tax cuts, reduce burdensome regulations, and prioritize domestic manufacturing and energy production unleashed astounding economic growth for our country.
To build on this success and make a swift recovery from the offsets caused by COVID-19, I urge the Biden Administration to make tax cuts permanent for individuals and small businesses (as they are for corporations), expand tax credits to incentivize business and job creation, and implement further tax cuts on individuals and small businesses.
In addition to additional education and training programs that focus on growth industries,, there will be an increase in high-paying jobs in Idaho by removing excessive federal rules and permits that create obstacles to starting and running a business.
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