The day of reckoning is coming for the United States’ national debt and it will likely come in the form of a dollar collapse. This is a problem for every single person on the globe and it’s only getting worse.
The nonpartisan Congressional Budget Office has published its latest forecast and assessment of the nation’s fiscal health as we are bombarded with Democrat rhetoric of impossible spending measures and unfulfillable promises if only they are voted for.
Large budget deficits over the next 30 years are projected to drive federal debt held by the public to unprecedented levels—from 78 percent of gross domestic product (GDP) in 2019 to 144 percent by 2049. That projection incorporates CBO’s central estimates of various factors, such as productivity growth and interest rates on the federal debt, the latest forecast stated. This system built on debt is unsustainable. No one knows exactly when it will collapse under its own weight, only that it will.
The subjective math is just as terrifying as the picture painted by CBO. The official data is bleak, and it’s bleaker still against the backdrop of bipartisan inaction in the face of the growing problem. As forms of tax relief are cast aside by the political overlords in lieu of promises of more spending and higher taxes, the burden is ever increasing on the average American.
The 2019 Long-Term Budget Outlookhttps://t.co/Kp4pcUMapy pic.twitter.com/pk18LTKGKO
— U.S. CBO (@USCBO) June 25, 2019
Just the interest on the nation’s debt repayment should be enough to disgust anyone. Check out the huge chunk of (literal) red in the chart below, which demonstrates the giant crater the unfunded liabilities of Medicare and Social Security will blow in future budgets. According to Townhall, it’s important to pay special attention to the “rosy scenario” disclaimer, as well as the relatively minuscule impact of defense and war spending when it’s all said and done.
Today, CBO released the new 30-year budget baseline. It forecasts the public debt rising to 144% of GDP under *rosy scenario* — all tax cuts expire, int. rates rates remain at historic lows, no wars or recessions, shrinking DOD budget, no new govt. programs. 1/ pic.twitter.com/TmqhVI8RGd
— Brian Riedl ? ?? (@Brian_Riedl) June 25, 2019
The social security Ponzi scheme coupled with Medicare will collapse the entire system. And once the age demographics are taken into account, the entire future of the nation becomes akin to a scene from a dystopian post-apocalyptic horror movie.
For now, financial markets continue to lend to the U.S. government at low interest rates. That will all change though, and it’s already starting to. The rising debt will, “Increase the risk of a fiscal crisis — that is, a situation in which the interest rate on federal debt rises abruptly because investors have lost confidence in the U.S. government’s fiscal position,” according to Philip Klein, a Washington Examiner writer.
The unfortunate truth is that this national debt problem and promises of higher taxation to pay for increased spending and more entitlement programs should scare everyone. This isn’t a party-line problem, as we all are being harvested like cattle for the money the government spends.
So what can you do? Literally nothing about the government’s debt. There’s a handful of psychopaths who think they have the moral authority to steal your money and sell your children and grandchildren into debt slavery. Until the majority of this country wakes up and realizes no one actually has any power over you other than yourself, nothing will change. But in the meantime, you can protect yourself.
As James Davis puts it: a rising national debt could very well lead to a dollar collapse, and as we speak, several nations continue to divest from the U.S. dollar. Are they preparing for a dollar collapse? Maybe, or they are bracing for its decline. Either way, many of these countries are buying gold or silver. But consider palladium as well. Precious metals are money as opposed to fiat currency that is the U.S. dollar.
Its NOT my National Debt. I did not vote for that. Pfffttt..
Divide the National Debt between the number of 5000 Members of Congress over the last 50 years, and doc their paychecks and retirement funds. They voted for that mess, not me.
The problem is not getting worse it’s getting a lot better. It was the worst when we could have just barely paid it off and been broke. Now we cannot possibly pay it and the chumps will end off being stiffed for trillions. Buy that oil, those aircraft carriers, the copper. gold, silver it”s all free cause we are never going to pay for them.
Liberals. Please, sell their organs while they are still alive.
They want to do it to you.
They need to STOP Calling it the Nations Debt and start calling it Congress’s Debt. Its NOT my Debt. When you write checks that cannot cash, its call bad check writing and if the check signer fails to pay it back, then you imprison the Congress into the debtors jail. Wanna see how fast they learn how live within their means and balance their budgets. America is lawless, same Crap in my local county. I caught them defrauding FL Tax payers out of almost a million dollars. I’m nailing the [email protected] and calling them all out by name in a pubic forum.
The massive problem in this country is there is NO ACCOUNTABILITY of ELECTED OFFICIALS. Or the Runaway Pentagon, running around the world spreading their hate and illegal wars. Jail the F*ckers~!~ Put the criminal animals in a cage n throw away the key.
This debt exposes another flaw in our constitution. The biggest flaw is the failure to provide for term limits for congress. The next flaw is the failure to put a limit on the debt that can be incurred by congress and then defining that debt so that it covers all federal spending of any kind whatsoever.
Unfortunately if government debt which provides funds for entitlements and MIC was never created we would be in a financial depression. We all benefit from it, the butcher, the baker, the candlestick maker. Grocery stores in poor communities have more business with EBT Cards than ATM / Cash.
You are exactly right! How in the world can 500 individuals make 300 million people responsible for at least 21 trillion in debt and no telling how much in future obligations. And they reward people who don’t work and penealize those who produce. California is giving illegals free healthcare and penalizing those working people who don’t pay the outrageous fees for healthcare. I agree with you on silver. The cheapest asset on the planet!!
It’s a 124+ Trillion in unfunded liabilities, 30+ Trillion in Medicare, 19+ Trillion in Social Security Liability. This is all on top of the Federal national debt of 22 Trillion and climbing. USdebtclock.org for more info
Obviously the solution to debt & King Dollar is …… wait for it ……. Bitcoin !!! 🙂
Silver could pop $5 upward anytime now. Massively manipulated and beat up. Price Ratio is 93 to 1 Silver to Gold. Crazy out of wack. Even at 70 to 1 Silver would be at $20.00+ right now.
If you have cash sitting idle, buy .999 fine silver 1 Oz Rounds. Skip the junk silver Pre 64′ US Coins, only 90% silver, useless with intrinsic value only. Get the real deal.
Like most of the stories on this site…. “could”
Also, silver could fall below $4.00 and ounce should demand for electronics fall.
The ratio is meaningless, just because there was a ratio in the past doesn’t mean it is a law from GOD.
If you have cash on the sideline, invest it in income producing.
Buying gold/silver does not produce an income producing stream [monthly/quarterly/annually]. AND REINVEST YOUR DIVIDENDS!!!
I feel you’ll end up with $50k of coin that has a face value of $5k. In the meantime, by 2050, the markets will have gone up 4X along with the national debt 2.5X.
In a collapse, no coin or metal will be valuable, “the loaf of bread can’t be bought using something that has no utility value” you can’t use a silver coin for heat, food, shelter, thirst… it is just a piece of metal. But you seem to think during the collapse that your coins will have greater value. BAHAAHAHA they won’t get you crumbs.
Sorry but will Silver the most economical, highest conductive metal ever sell cheap in a collapsing economy that needs cheap energy. Not really.
Have a cash of silver if you can afford it.
If it’s a real crash, you win, if not and silver goes cheaper, just buy more at the cheaper price.
If you can’t afford to buy silver, buy seed. You can eat what you can grow.
Bert is a typical example of most financial illiterate morons in this country, about to get wiped out of their 401K’s and life savings. Still believing in the stock market phony Ponzi scheme. Just leaves more silver for me to buy and scoop up. How tall is your silver stack Bert? Income producing? Every stock market gambler looks like a genius in a bull market, which now is based on phony money propping up more fraud. Silver will never go below $13 ever again in our lifetimes. Buy Low Sell High. Last time I sold all my Silver, junk silver at $42 an OZ baby back in spring of 2011, when I got it for free and collecting it all at the $4 an ounce price for 30 yrs. I think I know WTF I am doing here Bert. This time I am stacked and looking to get more. Just get the PM manipulators off the brakes and this is going to the moon again. At least diversify and back p the truck on Silver if you can. You all have been warned. Wudda Cudda shouldda… Did ya?
I remember the lady next door when I was a kid.
She grew up in Russia during depressionary times.
Her family was “wealthy”
She said her mother would trade a diamond for an egg in those days!
There is currently very keen interest the asteroid ‘Psyche 16’ which is located in the Asteroid Belt between Mars and Jupiter. NASA is sending out a probe about two years from now to sniff around and get a better understanding of this asteroid.
Corporations (and nations) are salivating at the prospect of sending out unmanned craft to nudge this thing back here, park it in orbit around Earth, and mine it for the vast mineral wealth it contains.
Although it is technically and financially not practical to harvest this 150-mile-long chunk of metal/rock right now, the breathtaking strides in technology might make it possible in the not-too-distant future.
Here’s the kicker: this asteroid alone contains so much gold that accessing it would make gold as common as tin or zinc, and worth just about as much. If you plan on handing down a legacy in gold to your children or grandchildren, it might end up being worth almost nothing.
This asteroid business sounds like science fiction; but just look at the amazing technological advances in the 75 years between 1925 and 2000. The pace of progress is snowballing ever faster, and harvesting asteroids might be practicable in as little as 30 to 50 years. Most of us will be gone…. but the silver and gold you bequeath to your family might end up being almost worthless.
How should we safeguard our assets instead? Darned if I know….
As long as he USD maintains world reserve currency status there will be no massive inflation or collapse. Wars have been and will continue to be fought to maintain it. When military, not inherent economic might is required to maintain an economic system upon the world, it’s inevitably an unsustainable system. If the USD is displaced, especially rapidly, all hell will break loose. War, culminating in a global confrontation will be the result. Your savings, pension and the like will be the least of your concerns.
Agreed Kevin2. Money will be the least of our concerns. If we lost reserve status, we still have the most powerful military in the world, and it would be brought to bear on ALL enemies of the US. We have sacrificed the most, and spent the most of any nation in the history of Mankind. Mostly to save everyone else’s asses. Had we stayed out of WW2,provided the japs didn’t bomb us, the world would be a much more sane place. We wouldn’t have the savage mudslimes overrunning the world, idiot liberals like angela merkal ruining Europe AND the US and most certainly wouldn’t have the racial issues we have currently in the US.
Actually post WWII our military operated largely at the bequest of globalist business interests using ostensible excuses of “freedom” or “war on terrorism” for justification. The US without its dollar as reserve currency would see inflation of massive proportions as demand for the USD dropped relative to its productive capacity. The domestic social disruption in the US would likewise be massive. The world is fragile on a good day, inject economic chaos of this magnitude and war is guaranteed. War will be a most easy sell to the body politic. The great military the US has will atrophy very quickly for lack of funding, simultaneously the public will be having riots over price increases. In short order the nation would fragment.
200+ TRILLION in unfunded liabilities (Social Security, Medicare, & all the other promises by the Dimbeciles in congress); what could possibly go wrong? I’ve been reading articles lately about a DEBT JUBILEE (forgiveness of all debt) which will be a huge transfer of wealth from financially responsible folks to those that were irresponsible. People that don’t embrace advice by the wise folks on this site to REDUCE OR ELIMINATE DEBT are going to cause huge problems.
Mac, why have recent comments been unpublished?
These “National Debt” threads are slow-rolling snore-trains. Mac, we need more “democrats and gun banning” articles, the guys really get pumped on those, I know I do.
I mean c’mon, even the last Soros article only had a few posters. I usually hop on a Soros article, It’s my chance to sound off on the evil ol’ dinosaur. Must be the summer dog day blahs, it’s the heat. It’s so hot we’re not even firing up our laptops.
Mac, give us more gun articles.
Son, we’re all out in the garden pulling weeds, harvesting the early crops and canning them.
Also enjoying the fresh eating from the garden plot. Spending a lot of time in the kitchen and NOT on the computer.
40% of the stock market is built upon US govt spending, half is newly created debt, there will be no stop in the increases of the national debt.
All money on the planet is free floating fiat, there will be no collapse, we are all tied together, some of the shitcan countries will fail, but the big 40 can’t, they are tied bound and gagged.
When will you finally get this through your fat head?
No collapse. DOW 100k, S&P 20k, National Debt $60T all by 2050. It will, and it must, there is no stopping a Trane.
Never bet against the fed. They have infinity plus one.
And it’s all contingent on the USD maintaining reserve currency status to continue its demand, value and a dilution pool for inflation.
America died with the 16th Amendment.
Once the idiots figure out they can tax
the producers there will be no end to it.
Most Americans are idiots AKA
Democrats, or at least that is how they vote.
PMs aren’t the answer.
Who sets the price on your gold or silver?
The same people that produce our “fake” money.
Buy real estate.
Real estate is not very “liquid”,
but it is real and tangible.
As far as the debt is concerned.
personally you should seek to be
debt free and an owner of real estate
in a non-city location.
As far as the national debt goes, the whole system is so
faked up and politicized, it is a waste to worry about.
The vast majority of that debt is owed to my generation.
Are we going to crash the system? No.
Are we going to tax our kids and grandchildren, yes,
just like Our parents and Grandparents taxed us.
There are two reasons we make kids.
#1 It is a lot of fun to make them.
#2 The kids will take care of you when you are old
( if you are a good parent).
The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows Congress to levy an income tax without apportioning it among the states on the basis of population. It was passed by Congress in 1909 in response to the 1895 Supreme Court case of Pollock v. Farmers’ Loan & Trust Co. The Sixteenth Amendment was ratified by the requisite number of states on February 3, 1913, and effectively overruled the Supreme Court’s ruling in Pollock.
It’s outrageously dishonest to conflate Medicare with Social Security. SS can be managed with fairly minor adjustments and isn’t that far out of balance. Medicare, however, along with health care spending at all levels, is taking down the entire nation, and the only way to stop it short of collapse is for the feds to enforce 15 USC 1 to stop monopoly behavior which has allowed rhis sector to price gouge us to national bankruptcy.
Its digital petro dollars created out of thin air. the coinage or paper to represent it does not exist. It like the saying a million dollars is nothing to a liar. They can have as many millions as they want. I think the mudslime problem is the thing we need to worry about the most.
The “mudslides” don’t concern me, the globalists do. The “mudslides” didn’t eviscerate US industrial capacity with their lets employ virtual slave labor “free trade”. Leave the “mudslides” alone in their back yard, don’t give them live GI to shoot and IED thus bring our military down to their level in effect “fighting their war”. Leave the non religious fanatics alone (Saddam, Ghadaffi, Assad) who protect Christians in their own countries and stop arming the Islamic Fundamentalists to overthrow them for Israel & Saudi Arabia (the core of Islamic Fundamentalism). Ask yourself who is arming and funding these almost universally Sunni kooks. It’s not Russia, Its not China, Its not Iran, It’s not Syria, It wasn’t Iraq. It’s the US / CIA, Israel and Saudi Arabia, what a screwed up alliance.
California now requires background check to purchase ammo.
So LEAVE the state.
Let there be nothing but the lay around on the dole intitled class remain in the communist held states like California.
If you live in communist state stronghold. Just LEAVE.
LEAVE while you can. Soon they will make laws saying you can’t leave. Or must pay a leave “fee”.
My company will NOT do business with California.
Years ago they tried to cause us problems. State tried to extort money from us. We closed the doors. No business there now. Problem solved.
We also don’t do business with China. China and California have same ideas. Tyrants, Thieves.
Punish the communist states.
Maybe you can do the same within your company? Punish communist hollywood. Don’t see their movies.
Local movie theater allowed Police to man the doors. Three Police bulldoged me, while I entered with my lady. They also stuck a Cell Phone in my face and snapped a picture, trying to intimidate. The theater has the right to allow Police to man doors. Theater allowed Police on their property.
I also have right to move about freely and to be Left Alone.
Theater wanted to “cooperate” and let Police do what ever.
I HAVE NEVER bought another movie ticket. My lady and I went movies weekly for date night for many many years. No more. I’ve never been back. Respect my business/patronage, or we don’t do business.
I will not be bullied. Neither should you allow it.
I will not support Tyrants, Bullies, or Communist. Neither should you.
“Live Free or Leave”
So what can you do?
… absolutely fucking nothing
So why are you telling me this then? You must think there’s SOMETHING someone can do…
There is information that states the US urged on and knew Japan was going to attack Pearl Harbor, all part of the plan to boost involvement into WW2. On silver the newer silver proof sets now have 99.9 silver replacing the 90%.
Japan was cut off from oil and had a 6 month reserve. It was (a) get out of China and make “nice nice”. or (b) Take the oil from the Dutch East Indies. They weren’t advancing towards (a) so (b) was their obvious choice. The US Navy potentially stood in the way of (b). It did not take a Carl Von Clausewitz to figure out what was going to occur.
It’s all Trump’s fault.
those of us who arent in debt have nothing to worry about. the thing everyone should be worrying about is how to cope with living outside. was out yesterday and black flies everywhere they bit the dog a few times. that could easily be any of us. your house is nothing more than a hot humid box when the climate systems in it stop. the stifling heat bugs and loss of sterile modern indoors and you have third world conditions. it will happen quick. no one talks about dealing with their shit washing their clothes or dealing with garbage. the last thing im gonna worry about is national debt, my world is the distance i can walk around my house. i only concern myself with who the bad actors in my area are.
This article could have been written 20 years ago. The problem of adding more and more debt is still the same, only the magnitude of debt has greatly changed. Numbers mean concise things (like your mortgage or power bill), until they become so huge they become incomprehensible or abstract, this is where we are now. Fed., state, and local debt is so vast that in a way the size of the debt almost does not matter, it is altogether unpayable. What difference does it make if a man who earns 50 thousand a year and owes a 100 million dollars, it won’t be paid. We have long passed the ability to deal with debt and deficits, it is not being addressed, there’s no point to it. Since TPTB have no rational plan or ability to deal with debt (which they never really did anyway), it has a life of its own. It will go on until it collapses, and will be beyond the control of anyone to stop it. The longer it goes on the greater the catastrophe when it finally stops. A fitting analogy would be a person who has cancer but is not being treated, then finally they reach the point where it is past terminal and nothing can be done about it. This is where the debt is now.
No one can accurately predict when the collapse will occur, only that it must happen. And no one can accurately predict all the consequences, but we may safely assume some things to occur. Try to imagine how society would deal with totally worthless money, or no money. Also, for starters, there is no doubt when a collapse becomes apparent the desperate officialdom and central banks will confiscate all accounts, pension plans, investments, a cancellation of payments on gov’t sold bonds/bills/notes, and likely suspend citizens right to purchase real and tangible precious metals because buying them essentially takes money out of circulation. We also know historically, socially disruptive financial upheaval is accompanied with civil upheaval, which in turn is met with with broadened gov’t power and force, loss of civil rights, and war to distract the people.
By far, debt and deficits at all levels of gov’t are the number one problem facing this country, and it will destroy our ability to cope with all the other problems we have. Rather, the over-arching, absolute highest priority of gov’t and TPTB is to irrevocably change the demographics and culture of the nation. Let’s be honest, they want less whites, they generally dislike Christianity in practice, and they don’t want an intelligent, informed, independent-thinking citizenry. They want an obedient, non-critically thinking, cowed, successfully propagandized society easy to control. That’s why illegal immigration from 3rd world countries is being supported and promoted, even by many US officials and TPTB.
If/when Democrats regain the presidency there will be huge tax increases. A few candidates have even said the middle class WANTS to pay more taxes. They know this is not true, but they need to sell the idea of paying more taxes. They will also reduce social security payouts to the very people who paid a lifetime into the system, and put it into other programs to redistribute.
Informed persons should no longer waste their time or effort trying or wishing to “reform the system”, it will not and cannot be done. Rather, they should focus on the 5 Fs – their own family, friends, finances, faith, and future.
Every person who loves their freedom and liberties should support secession, regardless of the state they live in. Our loved ones will be dragged down into a dramatically lower standard of living and quality of life accompanied by loss of personal freedoms when the Great Reckoning occurs, which will also usher in a highly centralized, heavy-handed, authoritarian gov’t. Though difficult for many to see, successful secession is literally the only thing that can stop the fed. gov’t from making states nothing more than minor political subdivisions, they openly disregard and despise the 10th Amendment.
Mike in Canada says this has been an ongoing prediction for a long time. I really do wish someone could actually give a rough estimate of when it will all crash. However I keep prepping and thank God for everyday extra I get to do this. When it does all crash I do not think it will be a gradual process but will be fast and furious. That is the reason I believe so many will be caught with their pants down so to speak. Have a great day and remember keep your powder dry because the day you need that is very soon as well. It will indeed be the perfect storm that modern day prophets have been warning us about. Right now the time is ripe and the whole world is a tinder box. Hope you folks all have your gardens in!! God bless and take care…