Taxpayers would NOT pay the $1,176 B Slush Fund #Trump #deficit

本站添加: 2026-05-26

[00:00:00]There are those who are saying that the $1.176 billion slush fund, if it goes through, will come out of the taxpayers' pockets. And this is not true. The federal government is already spending all the money it takes in from taxes, plus so we're running a deficit each year, which keeps adding to the national debt, which is already larger than the annual gross domestic product of the United States. A major reason for this are the 12 major tax cuts that the Republicans have given to the top 1% from Reagan all the way through Trump.

[00:00:32]Indeed, in Trump's first term, he ran up a trillion dollars worth of new debt, which is approximately 1/4 of the entire national debt. So, this would add to that.

[00:00:42]Because the Treasury would have no option but to borrow the $1.176 billion.

[00:00:48]Typically, it would issue 30-year bonds, which means then we'd be borrowing money to pay the interest on the $1.176 billion over the next 30 years. We would have to borrow the money to pay that obligation of interest because we're already in deficit paying the obligations we already have.

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