Somebody Set Us Up the $175 Trillion Debt Bomb

PJ Media ^ | 03/04/2024 | Stephen Green

[SeekAndFind]

Buddy, can you spare one quadrillion, 750 billion dimes? Because that's how many it's going to take to plug the hole in America's entitlements programs.

That's 175 trillion-with-a-t dollars. That's six-and-a-half times the entire economic output of the nation for a whole year. If we spent six years devoting all of our energies — no new cars, no new houses, no FARMING, no eating, no nothing — for six years, we'd still be a hole roughly 12 trillion dollars deep.

The gross product of every nation on Earth is only $109 trillion. Even if we imposed FICA taxes on China and India, we still couldn't close the gap between what Washington promised to deliver on Social Security and Medicare and what it can actually deliver — with the big cuts coming the year before I hit retirement age in 2034.

The good news — if you're callous enough to call it that — is that we don't have to come up with the money all at once. According to a new Treasury Department report just detailed in the Daily Mail, the $175 trillion is spread out over 75 years, starting in 2033 when Social Security's so-called trust fund is exhausted.

The payroll taxes that pay for Social Security and Medicare are expected to be about $2.4 trillion in 2033, which comes up more than [dr_evil_voice]TWO TRILLION DOLLARS[/dr_evil_voice] short.

The annual average for those 75 years is $2.33 trillion. So either we nearly double payroll taxes, or everybody born after 1967 and relying on Social Security/Medicare spends their retirement as a Walmart greeter — and Walmart doesn't need 100 million greeters.

The money has been slowly running out for more than a decade when Social Security benefits began outstripping Social Security revenues.

[SaveFerris]

Yep just after Baby Boomers (officially, I am one)

There’s a few, here and there

We’re running out of people who knew what this country was in the 1980’s even the 1990’s (Bill Clinton disasters aside)

[PGR88]

As much as I love him, and will vote for him, President in Exile Trump was a big spender, too.

If government gave out heroin at every bank, every school, every government office, and encourage people to take heroin as a course of their daily life - we can expect 95% of American to become addicts, and the entire government and social system would organize itself around supporting it. Change would be impossible, only until total collapse occurs

Debt-based, fiat money, issued by a political central-planning agency is exactly the same thing.

Trump got rich from this system - and even if he wanted to, he is only one man - nothing will change in this regard.

[Worldtraveler once upon a time]

--- "cloward-pivin. working like a charm."

We've a large cadre of current and former "rent seekers" who will be very surprised when the collapse-reset-abrogation, however one puts it into words, as the "rent" for all those "rent seekers" will go "poof."

My personal view is to abolish the Fed, period, and abrogate any and all debt instruments accruing to the rent-seekers. Dis-junction, for a time, will occur, but righting the ship requires something more than "kicking the can" into tomorrow.

[SeekAndFind]

Now it requires $1 trillion of new debt every 100 days to achieve nothing but remaining static economically. The regime media pundits and the cabal on Wall Street tell us the economy is doing great. No recession in sight. All is well.

The dumbed down and distracted ignorant masses don’t realize all the reported “economic growth” is “created” by the government, enabled by The Fed, spending billions on their wars in Ukraine and the Middle East, funneling the money into the Military Industrial Complex corporations; paying for the transportation, feeding, and housing of the illegal invading hordes; hiring more government drones to harass the citizenry, and desperately trying to prop up a corrupt tottering empire in its final death throes.

[Alberta's Child]

Trump was never the problem. The problem is that Americans have come to believe they have a God-given right to enjoy a standard of living they can’t afford.

They vote accordingly.

THE END.

[RckyRaCoCo]

WWII gen. got too old to fight the onslaught of "progressivism"(socialism/Marxism/deep state/social justice...)

...meanwhile too many boomers (mostly white-suburban women) bought into the fake-guilt.

...at the same time too many boomers (mostly white-suburban men) did nothing to stop the cancer.

...yet there are those still wondering how it all went down the toilet...???

"...a Republic, if you can keep it"

pffft...too many games to watch and toys to buy/play with...to bother with that.

[eyedigress]

Maybe your motto should be
“Build Back Better”

[TexasGator]

[subterfuge]

So the Social Security funds didn’t go into Al G’s (algae) lockbox?

But seriously. The government ghouls will be coming for every American citizen’s retirement and 401Ks. For the children of course.

[Brian Griffin]

$175 trillion”

a doctor might cost $500,000/year

figure 300,000 doctors for the Medicare population

$150 billion/year

imagine for 50 years

$7.5 trillion

hospitals?

They are a series of clean rooms with some medical equipment and nurses. Nurses work for about a third of what the doctors do.

$2.5 trillion for the nurses?

[Brian Griffin]

“The government ghouls will be coming for every American citizen’s retirement and 401Ks. For the children of course.”

I get a property tax bill every year, mainly “the children of course.”

[subterfuge]

Yep. Government rulers have reached the evil threshold of simple execution of the weak and vulnerable among us. My two sisters died in their 50s, never receiving a dime of the money they put into the SS system for 30 plus years.

[airborne]

If Trump wins the election, the Democrats and media will run this problem 24/7, blaming Trump, and purposely collapsing the economy in a short time. Congress will throw up roadblocks to prevent Trump from fixing anything.

If Biden steals the election, they will blame Trump and use the financial disaster to seize more control over the population. Congress will aid and abet Democrats.

[subterfuge]

Yep. Government rulers have reached the evil threshold of simple execution of the weak and vulnerable among us. My two sisters died in their 50s, never receiving a dime of the money they put into the SS system for 30 plus years.

[AZJeep]

The only solution is the Argentina solution.
When the postage stamp will be a trillion dollars, the quadrillion dollars debt will be pittance.

[Ingtar]

Grow some of your own food - or at least know how to!

They are working on making the first half of this illegal...

[SaveFerris]

[...at the same time too many boomers (mostly white-suburban men) did nothing to stop the cancer.]

I was pretty busy with a life-changing personal injury, multiple education engagements (tech school, college), building a career and taking care of one parent - that pretty much tied me up for at least 25 years - then the bottom fell out under W just a few years later.

Since then, it’s been a fight for survival because I didn’t check off any AA checkboxes

[SaveFerris]

[That’s 175 trillion-with-a-t dollars.]

That’s why I said - the debt bomb WILL go off.

>>>this IS reality<<<

We can be as positive as we want; it will not matter - this thing will get out of hand and we’ll be lucky to live through it.

THIS is yet another reason why I’m convinced that money will be replaced with National Digital Currency in virtually every nation. And these will eventually be folded in a Global Digital Currency where cash is eliminated / outlawed.

I can’t prove this Biblically; it’s only a personal theory.

But one that will allow TPTB to implement a Mark of the Beast when the Antichrist arises - and the False Prophet will require a tattoo on the FOREHEAD or the RIGHT HAND to be able to BUY and SELL.

Now, that will not come until the middle of the 7 years of ‘Peace and Security’ (for the world that will experience those times)

[Reverend Wright]

“Grow some of your own food - or at least know how to! “

Unfortunately, “The Science” has determined that backyard gardens add to CO2 climate change.

So we can look forward to the Regime prohibiting backyard gardens.

https://www.telegraph.co.uk/news/2024/01/22/carbon-footprint-homegrown-food-allotment-increase/

However. When the $US collapses, the DC Globohomo Empire goes with it.

And 175 trillion in Weimar dollars will be easy to pay back.

[BenLurkin]