We’ve Been Snookered!

Here we go again. Next stop for the national debt is $24 trillion. My guess is the debt will be closer to $30 trillion by 2021. Does it matter? Let’s answer the question first. Then, we’ll do the math. In 2002, in a discussion of unfunded tax cuts, it’s reported Vice President Dick Cheney told the Treasury Secretary, “You know, Paul, Reagan proved that deficits don’t matter. We won the mid-term elections, this is our due.” Treasury Secretary Paul O’Neill was speechless.[1] In 2009, Elaine Floyd, CFP, wrote, “There will always be plenty of investors interested in buying government...

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