Friday, February 16, 2018

Intelligence Director: National Debt ‘Dire Threat to Our Economic and National Security’

Chip Somodevilla/Getty
Director of National Intelligence Dan Coats warned the Senate Intelligence Committee on Tuesday about the risk posed by the national debt.
“This situation is unsustainable, as I think we all know, and represents a dire threat to our economic and national security,” he said. He echoed an Obama-era warning by then-Chair of the Joint Chiefs of Staff Admiral Michael Mullen, who called the debt “most significant threat to our national security” in 2010.
White House Office of Management and Budget Director Nick Mulvaney admitted Monday, under questioning from Breitbart News’ Michelle Moons, that President Donald Trump’s new budget proposal does not balance the budget within ten years.
The best Mulvaney could offer is the prediction that the budget deficit would decline as a percentage of Gross Domestic Product (GDP) several years from now as a result of faster economic growth.
Trump’s budget projects a deficit of $1 trillion next year, as the federal debt continues to climb toward $21 trillion. On the campaign trail, Trump blasted then-President Barack Obama for doubling the national debt from $10 trillion to $20 trillion. But he has no plan to rein it in.
Read the rest from Joel B. Pollak HERE.

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