The citizens of
have all been lied to. For decades, the leaders of both major
political parties have promised us that they can fix our current system and
that they can get our national debt under control. As the 2012 election approaches, they are
making all kinds of wild promises once again. It is all a giant sham because we
have so much debt and they won't do what really needs to be done. The event
horizon of the approaching abyss is in sight for everyone to see who really
What we are doing to our children and our grandchildren is absolutely shocking. Words like “abuse”, “theft” and “crime” do not even begin to describe what we are doing to future generations. We were the wealthiest nation on earth, but it wasn’t good enough just to squander all of our own money. We had to squander the money of our children and our grandchildren as well.
All of this prosperity that we see all around us is just an illusion. It is a false prosperity that has been purchased by the biggest mountain of debt in the history of the world. Did you know that if you added up all forms of debt in the
Yes, everything may seem fine for the moment, but what do you think would happen if the federal government suddenly adopted a balanced budget? 1.3 trillion dollars a year would be sucked right out of the economy and we would be looking at an “economic readjustment” that would be mind blowing.
Enjoy this false prosperity while you can, because it is not going to last. Debt is a very cruel master, and our day of reckoning is almost here. The following are 34 shocking facts about#1 During fiscal year 2011, the
debt that should set America on fire with
#2 When Ronald Reagan took office, the
#3 During 2011,
#4 Economists tell us that the monetary base “consists of coins, paper money (both as bank vault cash and as currency circulating in the public), and commercial banks’ reserves with the central bank.” Currently the
#6 The U.S. government has total assets of 2.7 trillion dollars and has total liabilities of 17.5 trillion dollars. The liabilities do not even count 4.7 trillion dollars of intragovernmental debt that is currently outstanding.
#7 During the Obama administration, the
#8 It is being projected that the
#9 According to the GAO, the
#10 Others estimate that the unfunded liabilities of the
#11 According to the GAO, the ratio of debt held by the public to GDP is projected to reach 287 percent of GDP by 2086.
#12 Others are much less optimistic. A recently revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that
#13 The United States government is responsible for more than a third of all the government debt in the entire world.
#14 If you divide up the national debt equally among all
#15 Mandatory federal spending surpassed total federal revenue for the first time ever in fiscal 2011. That was not supposed to happen until 50 years from now.
#16 Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the
#17 During Barack Obama’s first two years in office, the
#18 When you add up all spending by the federal government, state governments and local governments, it comes to 46.6% of GDP.
#19 Our nation is more addicted to government checks than ever before. In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for 18.4% of all income.
U.S. households are
now actually receiving more money directly from the U.S. government than they are paying to the government in taxes.
#21 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.
#22 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid.
#23 In 1950, each retiree’s Social Security benefit was paid for by 16
U.S. workers. According
to new data from the U.S. Bureau of Labor Statistics, there are now only 1.75 full-time private sector workers for
each person that is receiving Social Security benefits in the United States.
#24 The U.S. government now says that the Medicare trust fund will run out five years faster than they were projecting just last year.
#25 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.
#26 If the
government was forced to use GAAP accounting principles (like all publicly-traded corporations must), the U.S. government budget deficit would be somewhere in the
neighborhood of $4 trillion to $5 trillion each and every year.
#27 If you were alive when Christ was born and you spent one million dollars very single day since that point, you still would not have spent one trillion dollars by now. But this year alone the
is going to add more than a trillion dollars to the national debt.
#28 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
#29 A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That amount of money would still not be enough to pay off the U.S. national debt.
#30 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 470,000 years to pay off the national debt.
#31 If Bill Gates gave every penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.
#32 According to Professor Laurence J. Kotlikoff, the U.S. is facing a “fiscal gap” of over 200 trillion dollars in the future. The following is a brief excerpt from a recent article that he did for CNN…."The government’s total indebtedness — its fiscal gap — now stands at $211 trillion, by my arithmetic. The fiscal gap is the difference, measured in present value, between all projected future spending obligations — including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt — and all projected future taxes".
#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars. That is more than $683,000 per family. Unfortunately, the average amount of savings per family in the U.S. is only about $4,735.
#34 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was created back in 1913.
But do our leaders care about statistics such as these? No. In fact, Barack Obama says that we need to raise the debt limit by another 1.2 trillion dollars.
But it is not just U.S. debt that is the problem. The European debt crisis threatens to completely unravel soon and Japan actually has the highest debt to GDP ratio in the entire industrialized world.
Sometime in 2012, a total of 7,600,000,000,000 dollars of debt must be rolled over by the G-7 nations, Brazil, Russia, India and China. That doesn’t even count new borrowing. That number just represents old debts that are coming due that must be refinanced.
Anyone out there that insists that this debt bubble can be fixed under our current system is lying or is incompetent. A massive amount of financial pain is coming.
It is time for Americans to wake up from their television-induced comas. It is time for Americans to get very angry. Your future has been destroyed and the future of your children and grandchildren has been destroyed. You better take action while you still can.
Maybe the Inca Calendar, that is predicting something that is about to happen that will change global structure and history, is more accurate than we think! In the Bible it states that those nations that that do not believe will be destroyed! So we as a nation must consider both our financial and moral standards and make the necessary changes. And I am not referring to "Hope & Change", as defined by "Captain Zero" and the crew of the approaching train wreck!
Hat tip to "The Intel Hub"