The national debt now exceeds 20 trillion dollars. It happened after President Trump reached a deal with Democrats to allow the government to go deeper into debt. In that meeting we agreed to prep pass and an increase in the debt ceiling. Schumer called it a really positive step forward. He likes it because more debt means government can spend more and Democrats love spending more. Schumer wants no cuts to entitlement spending and more spending on Amtrak, solar subsidies, Obamacare, even the F-35. It’s always more and Republicans, well they like spending too. The house vote to increase the debt limit was 316 to 90. One of the few who voted against it was Thomas Massie. He understands how important debt is. When you walk into my congressional office, the first thing that you see is not a picture of my family, or a picture from my district, you see a debt clock square right there staring you in the face. I put that up the first week that I got to Congress, number one to remind me why I came to Congress four and a half years ago. Well you’re failing. Yeah well I’m trying, ok. If only a few more would try. Today’s pols rarely even make suggestions as to how we might address our debt. Our unsustainable, increasing debt. They just keep spending more, increasing the debt as if nothing bad can ever happen. The increases are so big I had to leave the building to graph them. It started low less than 5% of the economy. Here’s World War I. Here’s World War II. Used to go down after wars but now even in peacetime it only goes up. Pretty soon we’re up here. How are we gonna pay for that? It’s crazy. Imagine you and I had a credit card debt which was higher than our national income. Well that’s what places like Greece have. Now that’s what we have. And nobody cares. They’re gonna start caring when they start looking at the dollars that they’re gonna have to spend. And then what? No one knows exactly. You can pull a rubber band and stretch and stretch but at some point something bad is gonna happen. What will that be? I assume Congress will just have more money printed to pay for things like its bigger military and much bigger Medicare and welfare state. What’ll happen next? Maybe wild inflation like they’ve got in Venezuela. This is not that unusual. Zimbabwe printed more currency to pay its bills too. Now we have billion dollar bills from Zimbabwe. This today is worth nothing. Could happen to us. None of us knows when this will blow up. To prevent the crisis, all Congress would have to do is slow spending increases to the rate of inflation, but they won’t even do that. They just raise spending and raise it until something bad is going to happen.