Please take a minute to silence your phones before we begin. While you are doing so, we have a fair number of members with us tonight. Supporters of president lincolns cottage. In seeing some of the names on the list, i wanted to take a moment to recognize two members who have been dedicated supporters since before we were open to the public. Eric reese has been a member for 12 years. Can you raise your hand . [applause] and thank you to all the other members tonight. I did want to name everyone but i thought the fact since the two of you have been getting since before we open was special, so thank you. At that conclusion, we invite you to the book signing which will be downstairs in the library. Joining us tonight is Sidney Blumenthal and jamie raskin to discuss mr. Blumenthals new book, the third volume in his series on the 16th president. Sidney blumenthal is the author of a selfmade man and wrestling with his angel, the first two volumes in his biography, the political life of Abra
Can you waste your hand . E your hand . [applause] and thank you to all the other members tonight. I did want to name everyone but i thought the fact since the two of you have been getting since before we open was special, so thank you. At that conclusion, we invite you to the book signing which will be downstairs in the library. Joining us tonight is Sidney Blumenthal and jamie raskin to discuss mr. Blumenthals new book, the third volume in his series on the 16th president. Sidney blumenthal is the author of a selfmade man and wrestling with his angel, the first two volumes in his biography, the political life of Abraham Lincoln. He is the former assistant and andor to resident clinton Senior Advisor to former secretary of state hillary clinton. He has been a National Staff reporter for the Washington Post and washington editor and writer for the new yorker. His books includes the clinton wars and the permanent campaign. Raised in illinois, he lived in washington, d. C. Jamie raskin r
Losing and this is the problem now with this economy in the u. S. The game of the u. S. Is now over because there is no path out there is no escape from the toxic debt there is no recovery at this point theres only how to manage the loss its going to be economic collapse with honor if Richard Nixon were in charge and this were to be the ms ation of the economy how do we honorably fail of course on this debt the deficit gets added to the National Debt every year like you know i remember when it 1st hit a trillion dollars and we were like wow and then it hit 10 trillion dollars somewhere and then now its like 2530. 00 china is just like escalating so rapidly and who knows like the whole time when i 1st had a trillion people were shocked and scared and then when it hit 10 trillion people like oh my god this cant last and then they hit 20 trillion and at 25 trillion and you know. And i get to a quadrillion and the world continue as it is but if feels like you know if youre comparing it to
Simulation goes away lets find out from Stacy Herbert well max you know there was some art a few years ago when we used to be able to meet in person at that little art festival i think it was in miami we had some banana on the wall well you might say our Balance Sheet is looking like that banana meat republic budget deficit hits record 3 trillion dollars as us spends 100 percent more than it earns unfortunately due to helicopter money it is not unlikely that the exploding deficit will ever shrink again until the Monetary System is overhauled so year to date and that we have only one month left in fiscal 2020 the us a spent 6. 00 trillion and collected just 3. 00 trillion which means that its outlays are 100 percent more than its receipts many are asking why dont we do we even collect this 3 charlie and taxes why dont we just like print money for everybody right it brings up a lot of questions you know one thing is that the deficit is to new jersey and its more than 100 percent of g. D.
That we have only one month left in fiscal 2020 the us a spent 6. 05 trillion and collected just 3. 048 trillion which means that its outlays are 100 percent more than its receipts many are asking why dont we do we even collect this 3 charlie and taxes why dont we just like print money for everybody right it brings up a lot of questions you know one thing is that the deficit is to you and us more than 100 percent of g. D. P. And thats true for countries around the world and some play 20300 percent g. D. P. But whats creeping up now is the interest on that deficit even at these low low Interest Rates near 0 percent Interest Rates that interest cost on the deficit is getting close to americas outlay for the military which is their biggest expense so usually what happens when in fact the interest on the debt gets to a point where that also equals your g. D. P. As a country you are technically in default and you are officially no longer a country what is left is a memory of a country you k