Posted on 05/22/2015 5:14:38 PM PDT by fhayek
Did you know that if you took every single penny away from everyone in the United States that it still would not be enough to pay off the national debt? Today, the debt of the federal government exceeds $145,000 per household, and it is getting worse with each passing year.
Many believe that if we paid it off a little bit at a time that we could eventually pay it all off, but as you will see below that isn’t going to work either.
It has been projected that “mandatory” federal spending on programs such as Social Security, Medicaid and Medicare plus interest on the national debt will exceed total federal revenue by the year 2025. That is before a single dollar is spent on the U.S. military, homeland security, paying federal workers or building any roads and bridges. So no, we aren’t going to be “paying down” our debt any time in the foreseeable future. And of course it isn’t just our 18 trillion dollar national debt that we need to be concerned about. Overall, Americans are a total of 58 trillion dollars in debt. 35 years ago, that number was sitting at just 4.3 trillion dollars. There is no way in the world that all of that debt can ever be repaid. The only thing that we can hope for now is for this debt bubble to last for as long as possible before it finally explodes.
It shocks many people to learn that our debt is far larger than the total amount of money in existence. So let’s take a few moments and go through some of the numbers.
(Excerpt) Read more at zerohedge.com ...
The original of the original article is here:
Obamacare will lower premiums by $2500 which will stimulate the economy and swell tax receipts which will result in a budget surplus and pay off the deficit.
And I will win American Idol next year!
you are thinking of robots AI gone mad.
I am talking about drones that do exactly what they are ordered to do without question, unlike a real solider.
Some people are so good at chess they can count down from 10 the number of moves they will take to reach checkmate.
Some people are so bad at chess, that they don’t even know when their king is in danger.
The US is a horrible chess player.
The enemy started counting down 6 years ago.
Inflation also increases the debt servicing costs of the now $18 trillion national debt. We will be carrying our money around in wheelbarrows like the Weimar Republic. And the dollar will surely lose its place as the world’s reserve currency.
>>> No question. What Obama doesn’t seem to realize...
You must not play chess.
Quick! The Kardashians! Bruce Jenner!!!
More idiotic tabloid news to distract the sheeple!!!
And if pigs had wings, they could fly. What you propose has no support from the people. There is a lack of political will to make the painful decisions necessary to get back on track. The welfare state is firmly embedded in our culture. Politicians and the voters will support any solution that keeps it going.
The $ has ALREADY been devalued 90%+...since the inception of the Federal Reserve.
It costs more to mint a penny and nickel than they are currently worth in raw materials...
The problem is a fiat currency and an unconstitutional Congress. Kill the entitlements (no one has the authority, let alone moral authority, to make another their economic slave...all for a vote)
“Anyway, we all know that SS will come to an end. And in practice it will mean most parents will have to move in with their children, which will probably be a good thing. It’s the way it was done for generations before the government stepped in.”
LOL.
Old people were rare.
People died in their 30’s on average up until the 19th century. Life expectancy in 1900 was only 47. Retirement was set at 65 for SS because the vast majority of people wouldn’t make it.
The debt is really just a cover for selling assets to cronies at fire sale prices “to pay our debts” while sticking the midfle class with the bill.
Nothing happening that our Lord and saviour Hillary can’t fix.
#marxistheanswer lol.
“The real question is not will we default....”
The real question that communities across the country should be pondering is how do they manage to take care of those that truly need help without any assistance from outside the community. No medicaid, no Social security, no food stamps, no disability, no unemployment....
THAT is a the real question. Many communities won’t have a good answer.
Both our politicians and the electorate are very very shortsighted.
As I posted earlier, Ryan has a plan that would transition us away from the welfare state.
The electorate doesn’t really give a crap about some rule change that wouldn’t affect them for 5 or 10 years.
But the power of their money would affect them now.
As I said before, our Government is nothing more than a “Middle Man”, a pass through entity that happens to have the ability to make rules and collect the money with massive overhead.
Remove/limit their ability to make rules/regulations.
Freeze their budgets.
States need to reject Federal funds.
Flood the Feds with money.
At this point we can tell the feds that any and all excess funds are to be allocated to the current budget (which will be easily paid for) then towards future commitments.
We have a very recent example of what happens when the money runs out, and that is the USSR.
The satellite countries began to ignore the central govt sending less revenue and retaining more power.
they couldn’t borrow anymore internationally.
I guess what is being suggested, is that, come the SHTF, the nation will fragment. Outsiders will be looked on with suspicion, and, perhaps new countries will emerge.
-—— No medicaid, no Social security, no food stamps, no disability, no unemployment....-——
These things aren’t going away....the democrats in Congress will never give up their sacred cows to keep their base voting for them....
These programs will still issue checks or transfers... They will simply be almost worthless....
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