The national debt should be a huge concern for every single American, as the government is essentially stealing from people not yet born to pay for things now. As debt increases, so does volatility and interest rates; and at some point, the government will have to admit they cannot pay that money back.
“Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable but accelerating,” said Michael A. Peterson, chief executive officer of the Peter G. Peterson Foundation, a nonpartisan organization working to address the country’s long-term fiscal challenges. According to Yahoo, the problem is that our taxes are too low, not the government’s frivolous spending.
According to Yahoo, a big national debt can also make it harder for the government to increase spending to combat the next recession or devote more money to retraining workers and helping the poor, among other programs. It seems that the media is more concerned about making sure money is funneled through incompetent bureaucrats than anything else. If government programs designed to help the poor with stolen funds (taxes) were effective, there wouldn’t be a skyrocketing homeless epidemic infecting socialist cities in California.
The problem is that government programs are never effective and aren’t voluntary. They simply take money from some, and after paying incompetent “public servants” a pittance is returned to “help the poor.”
Peterson attributed the growing national debt to “a structural mismatch between spending and revenues.” And while that’s the truth, the media continues to hide the fact that firstly, taxation is theft simply because it’s compulsory, and not voluntary. Peterson then says that the biggest drivers of the deficit are the aging population, high healthcare costs, and growing interest payments, combined with a tax code that fails to generate sufficient revenue, he said.
However, what the mainstream media fails to tell anyone is that the federal government generated plenty of revenue (stolen funds). The ruling class collected a record amount of taxes in 2018. They stole $1,683,537,000,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018), according to the Monthly Treasury Statement released today. That doesn’t include taxation and theft of any other kind. In fiscal 2018, total tax collections equaled $3,328,745,000,000, according to the Treasury statement. So what we have here, folks is a spending problem. The ruling class steals your money, spends it on lavish salaries and homes for themselves, then goes into debt to not fix the problems they promised to when you voted. And yet we have a nation of statists that bow to this immoral culture as if it’s the only religion.
Perhaps if the mainstream media would dare to actually publish how much money is stolen from Americans to pay for the lavish lifestyles of the wealthy rulers who dictate their lives, we would have a lot more people demanding their freedom from the totalitarians they voted for.
And what can we do about it?
Not a whole lot. We have to wait for the bloated monster to implode on itself or we get lucky and there is some sort of TEOTWAWKI event.
National Debt Passes $21 Trillion: A Crisis In The Making
It is $22 Trillion, not $21. Is this a recycled old article?
Agreed. I noticed that too.
22 Tril!
Gotta update those cut/paste regularly-occurring doomer stories.
THE “U.S. GOVERNMENT” WENT BANKRUPT IN 1933 AND IS NO LONGER A REPUBLIC
https://famguardian.org/subjects/LawAndGovt/LegalEthics/Corruption/USGovtBankrupt.htm
there wouldn’t be a skyrocketing homeless epidemic infecting socialist cities in California.
Homelessness is from drug addicts and mentally ill people. They love California because California welcomes drug users, wont arrest them when caught with the goods, and even has free shoot up clinics.
What would you expect?
We don’t have near that problem in Texas because the drug users get arrested when caught in possession of illegal drugs.
I think John Stossel has Parkinson Disease. Anybody else notice that?
https://www.youtube.com/watch?v=1Mi-LXipDo8
The cumulative balance of trade debt is far more dangerous than the national debt, yet no one talks about it.
What if we changed the currency to U.S. Treasury/Gold backed notes. Outlaw Federal Reserve notes.
Then gave Americans 30 days to exchange their federal reserve notes dollar for dollar while locking out foreign note holders.
Make a payment to the Federal Reserve in their own fiat FR notes.
Then offer 50% exchange for foreign held FR notes.
Again, pay the Fed with their own notes.
We could knock the shit out of the debt and pay the Fed back with money that is as worthless as it was when they printed it out of thin air.
I’d appreciate thoughts and education on this.
How does that gold backing work out for a nation with a huge balance of trade deficit?
Physical resources are the collateral.
You have a situation, like in Communist countries (ones which admit to being Communist) in which the locals cannot use the resources at hand.
But, they can be bought-out, by foreign money interests.
They are not supposed to fish in their own water or chop down a tree from their own forest. Except by special permit. They can’t afford it.
You can go to their country and do that.
I have looked up American addresses, to find them listed in Red China. Do they own water and mineral rights, too?
Do you own important rights to things in your own country?
Some revenuer will demand to board your boats, here. Within eyeshot, you can see it. Humongous, foreign boats stir up the ground with high pressure hoses, on an industrial scale.
You have come here, to think about the outside world, but what do you see right under your nose.
Physical resources are the collateral.
You have a situation, like in Communist countries (ones which admit to being Communist) in which the locals cannot use the resources at hand.
But, they can be bought-out, by foreign money interests.
They are not supposed to fish in their own water or chop down a tree from their own forest. Except by special permit. They can’t afford it.
You can go to their country and do that.
I have looked up American addresses, to find them listed in Red China. Do they own water and mineral rights, too?
Do you own important rights to things in your own country?
Some revenuer will demand to board your boats, here. Within eyeshot, you can see it. Humongous, foreign boats stir up the ground with high pressure hoses, on an industrial scale.
You have come here, to think about the outside world, but what do you see right under your nose.
Not to worry. With the Green New Deal and Modern Monetary Theory, deficits and debt don’t matter and everyone will be getting a new house, a new car and a guaranteed income. Work is optional.
Seriously, the monetary system doesn’t work like it did when it was tethered to precious. The whole world is in a debt trap because of the exponential function of compound interest. The debt will never be paid…it cannot be because the system IS debt. Money is created at the point of the loan and destroyed when paid back or defaulted on. If all the debts were paid there would be no money in circulation.
The debt will continue to grow until there is no longer enough available cheap surplus energy to back up industrial civilization. Then worldwide Mad Max ensues. Be sure to get your assless chaps conditioned and get the sand rail tuned up ahead of time.
The debt will never get smaller. When the debt cannot be increased by money created out of thin air is when SHTF happens. My wife states The USA should sell Califorina to pay the debt LOL!
California is supposedly a donor state, supposedly raising more in taxes than it costs in taxes. I don’t know how.
Creative accounting based on selective data that leaves a lot out of the equation.
Agreed Beaumont. The accounting gymnastics required to consider CA a solvent, much less a donor, state is beyond incredible.
I read somewhere, A million seconds is 12 days, A billion seconds is 32 years, A trillion seconds is 32 thousand years , So 22 trillion seconds is 704 thousand years?
Every bank can create electronic currency with each new loan to either governments through debt instruments or new consumer loans.
THERE IS YOUR INFLATION. Governments do not print but 1% of all currency. Banks create the REST. That causes massive inflation due to fractional reserve lending.
If banks could ONLY loan from reserves of actual MONEY not currency, then that would curb inflation.
Money is backed by some natural resource. It doesn’t have to be gold, but could be diversified across all US natural resources and what can be raised as commodities. This isn’t rocket science.
But the Elite’s plan is debt forgiveness to create a RESET and thus many will be free and clear, which creates WEALTH and makes the economy robust. But with a catch: one world currency and that will just be one more way to enact social credit and the NWO…and microchip everyone. See? Most will willingly give up sovereignity just out of impossible DEBT LOADS.
You will own your home,but be slaves of the Antichrist.
Think about this logically, not emotionally.
The governments cannot realistically give everyone more pay. That is inflationary and even though some fool like Ocasio-Cortez wants this, history tells us that rising forced wages by the government leads to UNEMPLOYMENT as businesses cannot make payroll.
If baristas make $15 an hour, then electricians will want $10 MORE an hour…as will everyone. Massive hyperinflation ensues.
BUT, the governments can enact debt forgiveness and have HISTORICALLY done so. That means you owe less, and thus you have disposable income (due to more net worth), so that means you can invest and even purchase things again as your debts are paid. That is not inflationary and it creates stability and the public is pacified.
There always is a catch. The governments will wipe out their own massive trillions of debt as well.
Since the average citizen will have disposable income again, then massive government savings bonds (TBills, Notes, 30 year bonds)will be pushed. “Say, we paid your debts off, so buy our bonds, and everyone wins”.
See how that works? They will appeal to civic responsibility and it’s just worthless paper like Confederate currency.
It’s just kicking the can down the road, but Joe Blow wants to buy a car, amd now that he is debt free, he will blow it on a useless shiney toy…with his soul sold dirt cheap.