Shocking Facts About U.S. Debt

The citizens of America 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 cares!

The United States has gotten into so much debt that there will be no coming back from this.  The current system is permanently broken. 35 years ago the U.S. debt was a horrific crisis that was completely and totally out of control.  If we would have dealt with it back then maybe we could have done something about it.  But now it is 15 times larger, and we are adding more than a trillion dollars to the debt every single year.  The facts that you are about to read below should set America on fire with anger.  Please share them with as many people as you can. 

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.  America has been so selfish and so self-centered that it is hard to argue that we don’t deserve what is about to happen to this country.  We have stolen the future of America, and yet we strut around as if we are the smartest generation that ever walked the face of the earth. We did all of this and kicked GOD out of the equation at the same time. The Bible tells us that GOD has changed the order of things because his people had forsaken him and his commands!

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 United States and divided it up equally that every single family in the country would owe more than $683,000? We are a nation that is absolutely addicted to debt, and the U.S. debt crisis threatens to destroy everything that our forefathers built. Republicans and democrats alike have this addiction of spend, spend and spend.

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 U.S. debt that should set America on fire with anger….

#1 During fiscal year 2011, the U.S. government spent 3.7 trillion dollars but it only brought in 2.4 trillion dollars.

#2 When Ronald Reagan took office, the U.S. national debt was less than 1 trillion dollars.  Today, the U.S. national debt is over 15.2 trillion dollars.

#3 During 2011, U.S. debt surpassed 100 percent of GDP for the first time ever.

#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 U.S. monetary base is sitting somewhere around 2.7 trillion dollars.  So if you went out and gathered all of that money up it would only make a small dent in our national debt.  But afterwards there would be no currency for anyone to use.

#5 The U.S. government spent over 454 billion dollars just on interest on the national debt during fiscal 2011.

#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 U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

#8 It is being projected that the U.S. national debt will surpass 23 trillion dollars in 2015.

#9 According to the GAO, the U.S. government is facing 34 trillion dollars in unfunded liabilities for social insurance programs such as Social Security and Medicare.  These are obligations that we have already committed ourselves to but that we do not have any money for.

#10 Others estimate that the unfunded liabilities of the U.S. government now total over 117 trillion dollars.

#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 U.S. government debt will rise to about 400 percent of GDP by the year 2050.

#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 U.S. taxpayers, each taxpayer would owe approximately $134,685.

#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 U.S. national debt soared by 61% during that same time period.

#17 During Barack Obama’s first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.

#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.

#20 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 U.S. 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 U.S. government 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"

 

 

 

HealthCare and Medicare

The current Health Care plan is not supported by a large majority of the American people. In fact some polls have over 60% of those contacted against this horrible plan. Because of many of the changes hidden in the plan the elderly are going to be hurt the most, since several changes are in the Medicare portion of the plan.

The head of a conservative senior citizens group says the current healthcare plan developed by liberal and moderate Senate Democrats is one of the most "cockamamie" ideas he's heard come down the pike in his 40 years in Washington. The so-called "compromise" that Senate Democrats wove together on a government health insurance plan not only allows people 55 and up to "buy in" to Medicare, but also increases the number of Americans eligible for the Medicaid entitlement program.

This is the way "Big Gov" plans to save over $500 Billion dollars. The plan is to push half of the members that are currently in Medicare over to Medicaid, which we all know is a way to get rid of a huge liability and give it to the states.

The bill also offers nonprofit health plans run by the federal Office of Personnel Management under the director , which in my opinion is a political code words for government option. Check out the Propaganda section on my web site www.myindependentvoice.com. You might also like to know that director Barry is the highest profile openly homosexual official in the Obama administration, and a staunch opponent of the Defense of Marriage Act.

Jim Martin, president of the 60 Plus Association, says the bill is an "insult on top on an insult" to current senior citizens -- and questions the practicality of the proposal. "How in the world are you going to cut $500 billion out of Medicare, add 31 million uninsured...and then all of a sudden they say, 'Here's another novel idea -- why don't we expand Medicare and Medicaid to the soon-to-be seniors, those so-called baby boomers?'" he asks. "Now how in the world are you going to add on another 15 or 20 million? There's 78 million baby boomers on the horizon." Martin says putting more people in Medicare "won't improve care for seniors, it just makes the lines longer."

Tea Party Candidates for the Senate

The 2012 Tea Party Candidates for the Senate will determine who controls Congress after the election in November! The Tea Party has made an effort to force any potential Republican in the senate to take a very hardline stance on reducing the debt, taxes, and spending. The "old Republican guard" have been put on notice that they can be replaced.

In a previous blog I asked what each conservative could do to change the course of this great nation and if your answer was to do nothing then that is what you will get because the democrats have a plan to make everyone beholden to "Big Gov". They are almost there with 49% of the population in the "giveme" state and they will vote for more and more until there is no more to give them and then chaos will begin just as it has in Europe!  

So we are back to the question "What will you be able to do?" I hope that the answer is that you will promote conservative issues with friends, family, and co-workers and make sure that they all vote. If we all get behind the Tea Party candidates then we can stop this liberal/marxist democratic party from winning and reinstate conservative values. It is up to you!

 

Watch the video for the best line from a movie!