America’s federal debt is being properly recognized as “a national security issue.”
GAO June 2023: The federal government faces an unsustainable long-term fiscal future. At the end of fiscal year 2022, debt held by the public was about 97 percent of gross domestic product (GDP). Debt held by the public is projected to grow at a faster pace than the size of the economy and reach its historical high of 106 percent of GDP within 10 years, then continue to grow at an increasing pace.
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Peter G. Peterson Foundation, June 7, 2023: The country’s fiscal trajectory got notably worse over the past year, according to projections from the Congressional Budget Office (CBO) released in May. Federal deficits will total $19.0 trillion over the 2023–2032 period if no new legislation targeting spending or revenues is enacted — a $3.3 trillion increase from the agency’s projections made in May 2022. The stark changes in CBO’s baseline projections, which do not reflect the enactment of the Fiscal Responsibility Act of 2023, show a worsening of the country’s fiscal outlook resulting from legislation over the past year, a less-favorable economic outlook, and other factors.
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Wolff Street, May 29, 2023 : Interest expenses on the national debt spiked to $232 billion in Q1 (not seasonally adjusted), a new record obviously, because of the mix of the ballooning national debt and the much higher interest rates on newly issued Treasury securities that replace maturing securities or fund the new deficits.
After the debt ceiling is raised this week, the Treasury department will issue a tsunami of Treasury bills, with interest rates well above 5%, and they will add to that interest expense in short order:
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If Washington Republicans have a plan, they should present it now. If they don’t have a plan for addressing this critical national security issue, then they have no business collecting their paychecks.
America’s Main Street Republicans have a plan – one that will generate $619.5 billion budget surpluses annually, during its first five years of activation (2024-2028); stimulate long-term economic growth; rejuvenate a free market business cycle; and restore financial security for America’s hard-working, tax-paying U.S. citizens:
2023 Economic Scoring:
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The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (6606 downloads)