The Debt Ceiling Debate Really Doesn’t Matter – Either Way U.S. Government Finances Are Going To Crash

Congratulations America, you are now 14 trillion dollars in debt.  The U.S. national debt is now more than 14 times larger than it was just 30 short years ago.  The federal government is literally drowning in debt.  Now some members of Congress are actually debating whether we should raise the debt ceiling again.  At the moment, the U.S. government debt ceiling is is set at $14.294 trillion, and considering the fact that the U.S. government is borrowing approximately 2.63 million more dollars every single minute, that cap will be reached very quickly.  The U.S. Congress has raised the federal debt ceiling six times in just the past three years, so you would think that raising it again would not be that big of a deal for our debt-addicted politicians.  But this past November a significant number of Tea Party candidates were elected to the U.S. House of Representatives, and they are eager to prove that they are serious about fiscal responsibility. (Read More...)

Is The New Madrid Fault Earthquake Zone Coming To Life?

What in the world is happening in the middle of the United States right now?  Thousands of birds are falling dead from the skies, tens of thousands of fish are washing up on shore dead, earthquakes are popping up in weird and unexpected places and people are starting to get really freaked out about all of this.  Well, one theory is that the New Madrid fault zone is coming to life.  The New Madrid fault zone is six times bigger than the San Andreas fault zone in California and it covers portions of Illinois, Indiana, Missouri, Arkansas, Kentucky, Tennessee and Mississippi.  The biggest earthquakes in the history of the United States were caused by the New Madrid fault.  Now there are fears that the New Madrid fault zone could be coming to life again, and if a “killer earthquake” does strike it could change all of our lives forever. (Read More...)

30 Reasons Why 2011 Is Going To Be Another Crappy Year For America’s Middle Class

Do you think that 2011 will be a good year for America’s middle class?  Well, you might not be so optimistic after you read the 30 statistics posted below.  The truth is that 2011 is going to be another crappy year for America’s middle class, and there is not a whole lot that you or I can do about it.  Sadly, what we are facing as a nation is not just a short-term economic downturn.  Rather, there are some very serious long-term economic trends that are absolutely ripping apart the U.S. middle class.  For example, did you know that even though our population has been growing at a brisk pace we have lost about ten percent of our middle class jobs over the past decade?  The vast majority of jobs that have been created have been low paying service jobs.  We now have hordes of highly educated young people that are waiting tables and that are welcoming customers to Wal-Mart.  Without good paying jobs there is no middle class, but today American corporations are actually creating more jobs overseas than they are inside the United States.  This has helped pad the profits of the big corporate fatcats, but it has been devastating for middle class communities across the United States.  Every time a factory gets closed down in America and gets set up in some other country instead, it means that the U.S. middle class is shrinking just a little bit more.  The new “global economy” has been good for the bottom line of the largest U.S. corporations, it has been great for countries like China and India, but it is absolutely wiping out the U.S. middle class. (Read More...)

In 2011 The Baby Boomers Start To Turn 65: 16 Statistics About The Coming Retirement Crisis That Will Drop Your Jaw

Do you hear that rumble in the distance?  That is the Baby Boomers – they are getting ready to retire.  On January 1st, 2011 the very first Baby Boomers turn 65.  Millions upon millions of them are rushing towards retirement age and they have been promised that the rest of us are going to take care of them.  Only there is a huge problem.  We don’t have the money.  It simply isn’t there.  But the millions of Baby Boomers getting ready to retire are counting on that money to be there.  This all comes at a really bad time for a federal government that is already flat broke and for a national economy that is already teetering on the brink of disaster. (Read More...)

Will The Obama Tax Cut Deal Save The Economy? NO!!

All over Washington D.C., top Republicans and Obama administration officials are running around declaring that the tax cut deal that was just passed will save the U.S. economy. But is this even partially true? Of course not! Mostly, what the “tax cut deal” does is keep tax rates exactly where they already are. Now, many of us are extremely thankful that we will not be paying higher taxes, but the truth is that if these tax cuts were going to “save the economy” they would already be saving it. Yes, this tax cut deal will provide a minor short-term stimulus to the economy, but it will also add $858 billion (some say closer to $1 trillion) to the projected federal budget deficits over the next two years. You see, this tax cut deal contained “all candy and no spinach”. In other words, the tax cuts were not accompanied by corresponding spending cuts, and that is going to lead to big trouble in the long run. (Read More...)

The 99ers

How much have things changed in America when we have to invent a new word to describe the hordes of Americans that have exhausted two years of unemployment benefits and yet still have not been able to find a new job?  In America today, there are at least 1.5 million “99ers” – American workers that have completely exhausted all of their long-term unemployment benefits and that still do not have jobs.  Some say that the true number of 99ers is actually much higher than that.  In any event, almost everyone agrees that we have a huge problem on our hands.  Unfortunately for the 99ers, the tax cut deal that Barack Obama has reached with the Republicans only extends the existing structure of long-term unemployment benefits.  It does not include additional weeks of benefits for the 99ers. (Read More...)

12 Simple Things You Can Start Doing Right Now To Prepare For The Coming Financial Apocalypse

It is becoming increasingly apparent that the U.S. economy is heading for complete and total disaster.  State and local governments across the nation are uncontrollably bleeding red ink.  The federal government has accumulated the largest debt in world history.  Every year we buy hundreds of billions of dollars more from the rest of the world than they buy from us.  That means that we are getting hundreds of billions of dollars poorer as a nation every single year.  Meanwhile, thousands of factories and millions of jobs continue to be sent overseas as American cities turn into post-industrial wastelands.  Incomes are down, unemployment remains at depressingly high levels and very few of our politicians seem to have any idea how to fix things.  Yes, things are really, really bad.  So what are some things that we can all be doing to prepare for the coming financial apocalypse? (Read More...)

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