The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars

The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it.  According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet.  Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year.  But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks downright apocalyptic.  According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollars in unfunded liabilities, and when you add that number to our 22 trillion dollar debt, you get a grand total of 222 trillion dollars. (Read More...)

12 Statistics That Prove That The U.S. Is Facing A Consumer Debt Apocalypse

In the entire history of the United States, consumers have never been in so much debt.  And that would not be a crisis as long as the vast majority of us were regularly making our debt payments, but as you will see below delinquency levels are starting to rise to extremely alarming levels.  In fact, some of the numbers that are coming in are even worse than we witnessed at any point during the last recession.  If things are this bad already, what are they going to look like once the economy really gets bad?  Because even though it appears that we are heading into a new recession, according to the Federal Reserve it has not officially begun yet.  That means that much worse is yet to come.  Just like last time, millions of Americans will likely lose their jobs, and without an income most of those that suddenly find themselves unemployed will not be able to pay their bills.  The stage is set for the largest tsunami of consumer debt defaults that this country has ever seen, and that will absolutely devastate major financial institutions all across America. (Read More...)

50 Actual College Course Titles That Prove That America’s Universities Are Training Our College Students To Be Socialists

What in the world are they teaching to our young people?  As you go through the list of college course titles below, I am sure that many of you will be completely shocked.  Most parents assume that they are sending their children to college to get prepared for their future careers, but the truth is that a lot of our major colleges and universities have become little more than indoctrination centers for progressive thought.  Our college students are literally being systematically trained to be socialists, and it is working.  According to a brand new Harris Poll that was just released, 37.2 percent of all Americans “prefer living in a socialist country”.  But for Millennials and Generation Z combined, that figure is 49.6 percent.  That means that essentially half of our young adults want to be socialists, and that has enormous implications for the future of our society. (Read More...)

Deadbeat Nation: 37 Million Credit Card Accounts In The U.S. Are “Seriously Delinquent” Right Now

Is the consumer debt bubble finally starting to burst?  If the latest numbers on delinquent credit card accounts are any indication, that appears to be precisely what is happening.  As I noted the other day, Americans currently have 480 million credit cards, and they are carrying 870 billion dollars worth of balances on those cards.  That is one giant pile of debt, but there won’t be a problem as long as the vast majority of Americans regularly make their credit card payments.  Unfortunately, the number of credit card accounts that are delinquent has been steadily rising, and now we are being told that the number of “seriously delinquent” accounts has shot up to 37 million(Read More...)

Global Inequality Explodes: 26 Ultra-Wealthy Billionaires Now Have As Much Money As The Poorest 3.8 Billion People

If you add together all of the money owned by the poorest 3.8 billion people living on this planet, it would roughly equal the wealth controlled by the 26 wealthiest men in the world.  Oxfam has just issued a brand new report on global inequality, and what they have discovered is making headlines all over the globe.  The rich just keep getting richer, and meanwhile the slice of the pie owned by the poor just keeps getting smaller.  Today, almost half the world lives on less than $5.50 a day, and approximately 795 million people “do not have enough food”.  And even in a “wealthy country” like the United States, the gap between the rich and the poor is the largest that it has been since the 1920s, and more than half a million Americans are homeless right now.  This growing inequality is a ticking time bomb, and at some point it is going to explode. (Read More...)

62 Percent Of All U.S. Jobs Do Not Pay Enough To Support A Middle Class Life

We just got more evidence that the middle class in America is rapidly disappearing.  According to a shocking new study that was just released, 62 percent of all jobs in the United States do not pay enough to support a middle class life.  That means that “the American Dream” is truly out of reach for most of the country at this point.  Today, Americans are working harder than ever but the cost of living continues to rise much faster than our paychecks are increasing.  Earlier this month, I went and looked at the latest numbers from the Social Security Administration, and I discovered that 50 percent of all American workers make less than $30,533 a year.  But that is just above poverty level.  In fact, the federal poverty level for a family of five is currently $29,420.  Most families are just barely scraping by from month to month, and most U.S. workers are just one major setback away from falling out of the middle class. (Read More...)

America Has Millions Of Millennial Brats That Need To Move Away From Mommy And Daddy And Start Acting Like Adults

If young adults are America’s future, then they better get their act together. Today, over 30 percent of 18 to 34-year-olds live with their parents or other family members. Meanwhile, marriage rates and fertility rates in the United States have both hit record lows in recent years. Instead of coddling these self-absorbed Millennial narcissists well into their adult years, we need to be kicking them out of the nest and encouraging them to learn to fend for themselves. In many instances, if they do not learn how to act like adults by the time they are 35, they never will. It is time for parents all over America to exercise some tough love, because we are facing a major national crisis. (Read More...)

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