2022 has been a very difficult year for the “home team”. Medical issues and several areas of financial reversal. Most issues stem from our 2020 COVID year and the supply chain problems in 2021/2022 year. Several of my clients simply cannot get computer chips and other necessary items to continue working full-time.
I enjoy working as a professional consulting engineer and still, at the tender age of eighty, continue to work. Just as well. Have you been to the grocery store or gas station lately? Everything, if available at all, is “sky-high. You can’t get a drink of water without putting down a buck.
One thing that really worries me is our national debt. At this moment, 23 December 2022, we have a $31 trillion plus gross federal debt. This is debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt. In late May of 2022, the Congressional Budget Office (CBO) projected that annual net interest costs would total $399 billion in 2022 and nearly triple over the upcoming decade, soaring from $442 billion to $1.2 trillion and summing to $8.1 trillion over that period.
Now, to make bad matters worse, the Senate released a one-point seven ($1.7) trillion omnibus fiscal year (FY) 2022 spending bill Dec. 20, providing discretionary funding for all federal agencies, including U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), as well as two supplemental funding sections providing $44.9 billion to support Ukraine and $38 billion in disaster recovery aid. No disaster tax relief provisions were included with the disaster spending. This is to keep our Federal Government operating and not defaulting on existing loans. In other words, it’s to keep the lights on. Congress simply cannot balance the budget and cannot stop earmark spending. All at our expense.
Because of previously mentioned difficulties, I have not been able to provide as many blogs as I would have liked to provide. I think 2023 will be a much better year. Let’s hope so. With that in mind, I certainly want to wish all of you a VERY MERRY CHRISTMAS and a VERY HAPPY NEW YEAR.
Robert Schuller one said, “Tough times don’t last–tough people do.”
Can’t wait to see what 2023 brings us.
Take care—Stay warm.
Bob J.
cielotech
Cielotech Online 
MERRY CHRISTMAS—HAPPY HOLIDAYS TO ALL MY READERS
December 23, 2022
2022 has been a very difficult year for the “home team”. Medical issues and several areas of financial reversal. Most issues stem from our 2020 COVID year and the supply chain problems in 2021/2022 year. Several of my clients simply cannot get computer chips and other necessary items to continue working full-time.
I enjoy working as a professional consulting engineer and still, at the tender age of eighty, continue to work. Just as well. Have you been to the grocery store or gas station lately? Everything, if available at all, is “sky-high. You can’t get a drink of water without putting down a buck.
One thing that really worries me is our national debt. At this moment, 23 December 2022, we have a $31 trillion plus gross federal debt. This is debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt. In late May of 2022, the Congressional Budget Office (CBO) projected that annual net interest costs would total $399 billion in 2022 and nearly triple over the upcoming decade, soaring from $442 billion to $1.2 trillion and summing to $8.1 trillion over that period.
Now, to make bad matters worse, the Senate released a one-point seven ($1.7) trillion omnibus fiscal year (FY) 2022 spending bill Dec. 20, providing discretionary funding for all federal agencies, including U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), as well as two supplemental funding sections providing $44.9 billion to support Ukraine and $38 billion in disaster recovery aid. No disaster tax relief provisions were included with the disaster spending. This is to keep our Federal Government operating and not defaulting on existing loans. In other words, it’s to keep the lights on. Congress simply cannot balance the budget and cannot stop earmark spending. All at our expense.
Because of previously mentioned difficulties, I have not been able to provide as many blogs as I would have liked to provide. I think 2023 will be a much better year. Let’s hope so. With that in mind, I certainly want to wish all of you a VERY MERRY CHRISTMAS and a VERY HAPPY NEW YEAR.
Robert Schuller one said, “Tough times don’t last–tough people do.”
Can’t wait to see what 2023 brings us.
Take care—Stay warm.
Bob J.
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