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Being held up because Dem proposals pay state debt
Posted on: December 3, 2020 at 16:49:44 CT
ScottsdaleTiger MU
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The Democratic proposal includes over 200 billion for various states to pay off or more precisely pay down their state debt. Numerous GOP folks object to that. I.e. federal tax dollars collected from Missouri going to California and New York to pay their state debt.
Some info from the US Debt Clock web site:
1. Federal Debt is currently $27.3 trillion dollars or $82 thousand per citizen or $219 thousand per taxpayer.
2. Current Federal Spending is $7.6 trillion a year.
3. Current Federal Revenue is $3.4 trillion a year.
4. Annual spending on Medicare/Medicaid is 1.3 trillion, on Social Security it's $1.1 trillion a year, on Defense: $705 billion a year and on Interest it's $343 billion a year. Those four items essentially equal the total annual revenue of $3.4 trillion (see #3 above).
Some info from the US Debt Clock web site:
1. Federal Debt is currently $27.3 trillion dollars or $82 thousand per citizen or $219 thousand per taxpayer.
2. Current Federal Spending is $7.6 trillion a year.
3. Current Federal Revenue is $3.4 trillion a year.
4. Annual spending on Medicare/Medicaid is 1.3 trillion, on Social Security it's $1.1 trillion a year, on Defense: $705 billion a year and on Interest it's $343 billion a year. Those four items essentially equal the total annual revenue of $3.4 trillion (see #3 above).
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Being held up because Dem proposals pay state debt - ScottsdaleTiger MU - 12/3 16:49:44
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