Happy, happy, happy is what POTUS Joe Biden is! He’s put pen to paper, signing into law the Fiscal Responsibility Act of 2023 (debt ceiling bill). “…this bipartisan agreement is a big win for our economy and the American people,” is what POTUS is quoted as saying during his Friday night Oval Office Address to the American folks.

Raising the debt ceiling does keep us from defaulting on our $31,467,639,287,894.39 debt. We don’t have to worry about the house notes, car notes, food, gas, water, and lights going up. The 401ks and stocks won’t drop like a hot frying pan, and the Social Security checks will keep coming in. Unemployment won’t skyrocket which means we won’t have to worry about saying, “Hello 1930s, again!”

Yup, raising the debt ceiling in order to pay off our $31,467,639,287,894.39 debt means that everybody we owe money to won’t hold our feet to the fire, just yet, to pay off the debt that we can’t pay off.

You see, folks, the sad truth is that raising the debt ceiling keeps our head just above ground. We have $24,690,309,627,385.24 worth of debt that is owed to the American people, corporations, state and local governments, the Federal Reserve Banks, other countries, and anybody else who we owe money to. Then there’s the $6,777,329,660,509.15 debt, which comes from within the federal government, adding its weight to the sand pile. Together, all of that debt totals the $31,467,639,287,894.39 worth of sand that is preventing us from moving out of that hole we’re buried neck deep in.

Now, now don’t go getting all ornery with me, saying that I’m just causing trouble, trying to knock the hard work ol’ Joe, Chucky, Mitch, Kev Kev, and Keem did. That ain’t what’s going on, here. What’s going on, here, is the fact that we ain’t got no money!

Folks, it’s basic math! You can’t say you got money when you’re spending more money than you’re bringing in. Most of the money we bring in comes from income taxes, taxes from Social Security and Medicare, and corporate income taxes. As for the money we spend, well, most of that goes towards Social Security (19%), healthcare (15%), income security (14%), national defense (12%), education, training, employment, and social services (11%), and net interests on payments we owe (8%).

Real quick, Social Security ain’t the problem. That’s your money! You pay into it. Just take a look at your check, and you’ll see on there that the government takes money out for Social Security. The money the government takes out are a part of the taxes that make up the bulk of the taxes the government uses to fund the government. So, why is it that the Social Security well is running dry?! I dunno know! But I do know the answer to that question most likely has a funk that potpourri can’t hide.

Mm-hmm, the government has been spending money like it’s water. Take, for instance, the amount of money we spent back in October of last year. The amount of money we spent was $3,611,239,136,330, and that amount is greater than the $3.35 trillion that we spent from October of 2021 to April of 2022. Yet, we only brought in $2,686,716,213,530 to date. And that amount is lower than the $2.99 trillion that we brought in from October 2021 to April 2022. If we don’t find some way to make up the loss, then we’ll end up bringing in less total money than the $4.90 trillion that we brought in in 2022.

The Congressional Budget Office (CBO) tried pouring some sugar on that lemon by telling everything that the debt ceiling bill, which is the law, now, will bring the deficit down to $1.5 trillion and the interest on our payments down to $188 billion.

The CBO also said that it will take 10 years to bring the deficit down to $1.5 trillion and the interests down to $188 billion. And that $1.5 trillion, by the way, is just a lil’ more than the $1.38 trillion we were in the hole for last year. Therefore, with the rate we’re going, we won’t be able to hit a rock with a stick.

Sorry to be the bearer of bad news, folks, but when you owe $31,467,639,287,894.39, and you’re projected to bring in money under $5 trillion a year, you don’t have a big win. What you have is a hole that you will soon be fully emerged in.