CNN sounds the alarm on a lurking ‘$91 trillion problem’

 

Was CNN’s Hanna Ziady the poster child for George W. Bush’s “No Child Left Behind” legislation? I have to wonder, because she’s only just caught up to what we’ve all known, and we’ve all been trying to explain for some time—it’s a situation that seems strikingly analogous to handicapping intelligent minds while waiting for the slow kids to get up to speed.

 

Here’s this, from Ziady’s latest article:

The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming

 

Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exact a heavy toll on their populations.

Where have these “investigative journalists” been?

 

What a striking command of the obvious—crushing debt is unsustainable and has serious financial consequences. Who knew? Well, certainly not the journalists at CNN, apparently. I mean, history is saturated with examples...paper (money) isn’t inherently valuable...everyone knows (or should know) that filing for bankruptcy isn’t a “good” thing...Social Security projected outlays are in dire straits...intelligent economists have sounded the alarm on the coming disaster for decades...inflation is killing working-class Americans....

Did I make my point? Where else would unfettered spending lead except a debt “problem” and “hard choices” to be made? But Ziady had more to say:

Debt burdens have grown so large — in part because of the cost of the pandemic — that they now pose a growing threat to living standards even in rich economies, including the United States.

Okay, back up: Let’s be clear on why the “pandemic” was so costly. The government tyrannically mandated private businesses close up shop, just as long as they were small, middle-class establishments and not the mega corporations (Planned Parenthood, Wal-Mart, McDonald’s), and then spent trillions of dollars to “stimulate” the economy its politicians and bureaucrats destroyed. Ziady frames the growth of the debt burden as if it were unavoidable fallout of some external, out-of-our-control factor.

The idiocy doesn’t stop there though:

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In some cases, they’re even making profligate promises that could at the very least jack up inflation again and could even trigger a new financial crisis.

Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election.

First of all, this only applies to the Democrat candidate, Joe Biden; he’s the one who won’t be honest about his tax proposals, and he’s the one who not only isn’t promising to cut spending but increase it as well. To the first point: I previously wrote on Biden’s taxation asks, with a $7 trillion price tag for taxpayers—he wants a small business and corporate tax hike, an additional Death Tax, unrealized gains tax, capital gains tax increase, higher income tax, more energy taxes, etc. To the second point: Biden campaigned on exorbitant (trillions) spending (Green New Deal, “net zero” agenda, dissolved borders and fostering mass migration, student loan “forgiveness,” socialized medicine, etc.), and he’s still selling the same schemes, and more! From another blog I wrote on the subject:

There’s a new report out by the Congressional Budget Office with an updated projection of the federal deficit for the 2024 fiscal year—in February, the office calculated we as a nation would be an additional $1.5 trillion in the red, but now that number has jumped 27% to $1.9 trillion, or an additional $400 billion.

The CBO report identified several factors impacting this increase, with Cadaver Joe’s vote-buying student loan ‘forgiveness’ scheme accounting for the ‘largest’ portion of it.

Another major factor? The spending in Ukraine—if you missed it, Joe just signed some 10-year spending agreement to finance the “war.” (On a totally unrelated note, new reports out today allege that Zelensky’s wife just purchased a brand-new Bugatti luxury sports car for nearly $5 million.)

On the contrary, President Trump has routinely made promises to cut spending. In fact, CNN has published articles on this very point, condemning Trump for the suggestion:

Trump wants to close the Department of Education, joining calls by GOP rivals

(I personally cannot express my joy over the thought of this campaign promise becoming a reality.)

The federal Department of Education, which has no right to exist and operates against the limitations of the Constitution, sucks up $80 billion a year, with some of the worst results to show for the money. And, he’s called for the abolition of other federal agencies too, all of which also operate outside the legal bounds of the Constitution, and all of which would drastically cut spending and restore unprecedented amounts of freedom to the states and their people.

We were not meant to be slaves of the federal government.

Lastly, Ziady presumably accuses both Biden and Trump of being involved in a “conspiracy of silence” for ostensibly failing to promise fiscal discipline; like above, that only applies to the former. And, isn’t that the whole reason we’re supposed to have a free and independent press? To pull back the curtain and shine a light on the dirty and corrupt workings of powerful figures and