MacIver News Minute: Massive Debt For All

Mar. 16, 2021

Speaker Pelosi famously once said “We have to pass the bill so that you can find out what is in it” – so now that Congress has passed President Biden’s American Rescue Plan, just what is in it?

A massive amount of spending that the professional politicians didn’t have the spine to pay for so it will be the responsibility of your children and your grandchildren.

To put this unsustainable and reckless credit card spending into perspective, in 2018, the amount of public debt per person in this country was just under $50,000.00.

In 2021, it has jumped to $67,000 for every American.

And according to the Heritage Foundation, a baby born today will have over $111,000 in debt by the time he or she turns 18 and that will grow to almost $200,000 by age 30.

Think about that for a second. Before our children have done anything in life, before they have even taken their first precious breath, the idiots in Washington are suffocating them under an avalanche of debt that will be impossible to escape from.