Posted on 09/20/2017 4:54:19 AM PDT by Kaslin
When it comes to the future, an overwhelming majority of Americans have adopted a mindset that is a variation of Isiah 22:12: “Let us eat, drink and be merry for tomorrow does not matter.” Recently, federal debt surpassed the $20 Trillion mark (additional state and local debt amount to another $2.9 Trillion). That milestone was greeted by the Ruling Class and a vast preponderance of the citizenry with a yawn and a shrug of the shoulder. As the ongoing determination to promote new entitlement spending and the refusal to rein in, but instead to expand, existing programs continues unabated.
Any attempt to seriously discuss the financial fate of the nation is ignored and dismissed with the proviso that its someone else’s problem for another day down the road. In reality, this dilemma is not someone else’s problem. The average life expectancy in the United States today is 79. That means that over 225 million citizens and non-citizens in the country today will still be alive in 30 years.
And what will this nation be facing 30 years hence? Recently, the Government Accountability Office as well as a number of experts such as Price Waterhouse have projected what that scenario will be if the country remains on its present course (with no new entitlements such as single payer health care and government mandated and paid maternity leave.) Note: All dollar amounts are in 2017 Dollars.
(Excerpt) Read more at americanthinker.com ...
Governments grow, consume ever greater percentages of GDP, and eventually end as Venezuela; with citizens reduced to starvation.
The US government will eventually default on it’s debts and the rest of the world will write it off.
Like Freepers in general I believe that I've done my part during my many decades to at least maintain the greatness handed to me by my parents and their generation (Depression/WWII).
I weep for this country but there's little that I,one person who can see the gravesite more and more clearly as the days pass,can do to stop it.
When he ran for Vice-President in 2012, Paul Ryan was all over this issue.
We have to face the reality that government spending and fiat currency and debt is the only economy we have. If we balanced the budget today with no increase in revenues (taxes), we would have nothing. The last 70 years has been devoted to growing the government and shrinking the work force in labor dollars.
The only way to “fix” this is a massive collapse which will breed a generation of pragmatists who fear debt like the current generation fears bad wifi. They’ll need to be people who would rather fix something than replace it, and would never incur debt to replace something just because this year’s model has a few new features. We need to be a nation that laughs at a new $1000 iPhone as a stupid luxury and a nation that laughs at anyone dumb enough to borrow a dime to buy one, even at 0% interest. Yes, the money is “free to use”, but the fact that you bought it and chained yourself to it for 3 years is the stupid part.
Stupid article which begins with a good premise but then fails completely to verify the premise.
Growth and inflation will erode the value of the national debt
It is the history of the world since the beginning. Kings create debt and then inflate the money to provide the cure
They ‘yawn’ [or appear to] because this hole is likely too deep to be dug out of.
“Cast all my cares on Him”
Some think America sucks now. Others that it will in the Zukunft.
I don't know about Venezuela, but Americans have guns .... and we'll use them!
I personally think America will come back to herself. Right now we have a media and “entertainment” group that has been paid for by foreign money who hate what America stands for. I think we should close our borders, remove illegals who really do hate us, not knuckle under to “new comers” who try to change our way of life to theirs. For too many years we’ve changed many of American descriptive words because they OFFENDED some one. We need to clean our our school systems from kindergarten to universities of teachers who do not like our America. Maybe even send them to countries they “might” prefer. Just my thoughts.
Yep.
Aaaaaaaaaaaaand the dhimmocrats wanna bring in a boatload (or a thousand) of ILLITERATE, DEGENERATE, AND HOSTILE $$EXPENSIVE$$$ illegal aliens to wreak our society and join in ALL THE FUN.
Plus a coupla hundred thousand H1B’s from India to displace the educated Americans that still have jobs.
What could possibly go wrong?
Ping.... to read some other day down the road.
depressing ping
Total national debt including unfunded (promised) entitlement spending = 67.8 Trillion. Staggering figure.
Take a look at the national debt clock...so much info here about our nation. Stare at it for a spell. The more you do, the more that pops out at you.
Incredible figures.
http://www.usdebtclock.org/
Medicare and Social Security are considered sacred by the overwhelming majority of the country, and politically the idea of a free lunch is tough to argue against.
Try some of the states, too. If the numbers aren’t fitting in the little boxes, zoom out a little with your browser (”View,” then “Zoom” and “Zoom Out” in firefox).
http://www.usdebtclock.org/state-debt-clocks/state-of-colorado-debt-clock.html
...over $57 billion dollar debt and spending going crazy there.
I was incorrect...total unfunded liabilities at the bottom of the page is 107 Trillion.
We could never produce enough to pay this down. I’m confident, this bubble gonna pop someday. Don’t know when, but when it unravels, it’ll be worse than anything we’ve experienced in this nation/world.
Yep. People talk about Venezuela, but we have a problem with socialism right here. And most of it has to do with the costs of state and local governments. Salaries for local administrators and politicians were through the roof a long time ago in many places.
And socialism? Both sides are socialist. Each simply wants a larger share of the excessive spending.
We can’t support a big government without a big manufacturing base on American soil—not American-”based” manufacturing happening on foreign soil. Agriculture and energy aren’t enough to support an even moderately large government without a large manufacturing base.
But they didn’t want to hire men. Oh, well. It’ll all come out in the wash.
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