Skip to comments.The 21st Century Monolith
Posted on 10/14/2012 10:50:12 AM PDT by RobertClark
For all intents and purposes, there have been two US Presidents thus far in the 21st century - George Bush (the younger) and Barack Obama. If we take Mr Bushs two terms to cover fiscal 2001 to fiscal 2008, the total rise in official Treasury funded debt over that period was $US 4.350 TRILLION. If we take Mr Obamas first term to cover fiscal 2009 to fiscal 2012, the rise over four years was $US 6.050 TRILLION. Add the two together and you get a grand total of $US 10.4 TRILLION. Thats almost two thirds (65 percent) of the total funded debt of $US 16.066 TRILLION as of September 28, 2012.
An American celebrating his or her 100th birthday this year - and quite a few will be - was born at a time when the TOTAL debt of the US Treasury was $US 2.8 Billion. In fiscal 2012, the US Treasury borrowed that amount in about 19 hours. An American celebrating his or her 50th birthday was born at a time when the funded debt of the US Treasury was $US 300 Billion. In fiscal 2012, the Treasury borrowed that amount in less than three months. An American celebrating his or her 12th birthday today was born at the beginning of the 21st century. That person doesnt have much to celebrate, given the fact that almost twothirds (65 percent) of the total funded debt of the US Treasury has been amassed in their lifetime.
Here is a very simple observation which goes to the root of the entire global monetary morass of the 21st century. An American celebrating their centenary in 2012 was born into a nation of just over 95 million people. A newborn American is being born into a nation of just under 313 million people. One hundred years ago, the US had a bit less than one-third of its current population. How did it function with a TOTAL government debt of $US 2.8 Billion? Today, that same government is running a funded tab of more than $US 16,000 Billion and a total tab (including UNFUNDED liabilities) of well over $US 200,000 Billion? In fiscal 1912, total Treasury debt increased by $US 10 million or a bit less than ten cents per capita. In fiscal 2012, funded Treasury debt alone increased by $US 1,276,000 million or a bit less than $4,100 per capita. The unfunded debt increased much more than that. These numbers are grotesque.
Forget any questions about how is this possible. The relevant question is why is this deemed necessary. The US and every other government in the world has been building its fiscal cliff for 100 years. Its face has been steadily steepening all that time. But in the 21st century, what was a mere mountain has become a monolith of almost incalculable proportions. In less than three presidential terms of office, $US 10.4 TRILLION has been added to the Treasurys funded tab. At the rate of expansion over the 12 years since the turn of the century, another 12 years would see the funded debt blow out to $US 26.5 TRILLION by 2024. If we project the rate of expansion over Mr Obamas one term as president for the next 12 years, the total by 2024 would be $US 34.2 TRILLION.
The Privateer Via ZeroHedge.
Note that nearly half of that $4.3 trillion occured in the last two years of his presidency, when the Demonrats had taken over Congress.
Bad start to a new century. Makes you wonder what the beginning of the 22th century will be like. Of course, we’ll all be long gone by then.
This paper examines the growth of government during this century as a result of giving women the right to vote. Using cross-sectional time-series data for 1870 to 1940, we examine state government expenditures and revenue as well as voting by U.S. House and Senate state delegations and the passage of a wide range of different state laws. Suffrage coincided with immediate increases in state government expenditures and revenue and more liberal voting patterns for federal representatives, and these effects continued growing over time as more women took advantage of the franchise. Contrary to many recent suggestions, the gender gap is not something that has arisen since the 1970s, and it helps explain why American government started growing when it did.
One word: TAXES!. “The power to tax is the power to destroy”. When people realized that they had the ability to take your money away from you to enrich themselves, and promote their personal wants and goals, through the use of government force, to use the government as a tax collecting sherriff who can take everything and anything away from you at the risk of life and limb, solely to profit someone else who dictates the sherriffs actions for their own enrichment, without fight, protest, or retaliation, do you know that you have become just another slave or serf, bound to heed your master’s call.
Ann Coulter herself remarked on the ineluctable conclusion that for a country to remain strong, viable and well defended, it needs the harsh and self serving interests of conservative men to rule the day. Socialism, and its many variations, is the providence of women and those who seek the succor of women (or who want to be womanlike.)
I endorse this view only to a point. I believe that suffrage must be the final option of any civilization or empire so as to implode and make way for the next great idea in governance.
If we take Mr Obamas first term to cover fiscal 2009 to fiscal 2012, the rise over fouryears was $US 6.050 TRILLION.
The Obama debt and current levels of government spending will be the ruin of this nation . Hope Romney says this in the debate.
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