The Most Important Thing I Have Ever Written

The Beginning Of The End - The New Novel About The Future Of America By Michael T. Snyder
Kindle Version Of The Beginning Of The End
Survive After Collapse
The Mystery Of The Shemitah
Blood Moons Mark Biltz
Soul Deceiver
Power Companies HATE This Man...
Power companies are scared that people will learn how to slash their bill and beat Obama's electricity monopoly using this 47-year-old patriot's "weird" trick. See how before they shut it down.
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins

Archives

Young Living Thieves Oil Spray

Why Is U.S. Government Spending So Wildly Out Of Control?

As the world watches in horror as the financial nightmares in Greece, Spain and Portugal unfold, most Americans are oblivious to the fact that a great day of financial reckoning is soon coming to the United States as well.  The truth is that the United States is not “the richest nation in the world” anymore.  What the United States actually has become is the biggest debtor in the history of the planet.  In our lust for the “good life” and the American Dream we have spent ourselves into a financial black hole from which there is no escape.  U.S. government spending has been wildly out of control for decades, but over recent months Obama, Pelosi, Reid and their cohorts have taken things to an entirely new level.  Certainly it cannot be denied that the Bush administration badly mismanaged America’s national finances, but budget deficits during his administration were generally in the three to five hundred billion dollar range.

So what is the U.S. budget deficit projected to be for 2010?

1.6 trillion dollars.

In fact, the Office of Management and Budget in Obama’s White House estimates that the federal budget deficit this year will be approximately 10.6 percent of GDP.

In case you wondering, yes, that is really, really, really bad.

The U.S. government has already piled up the biggest mountain of debt that the world has ever seen, and we are adding to it at a staggering rate.

According to the U.S. Treasury Department, on June 1st the U.S. National Debt was $13,050,826,460,886.97.

How in the world did we get over 13 trillion dollars in debt?

How is that even possible?

If you were alive 2000 years ago and you started spending one million dollars every single day when Christ was born, you still would not have spent one trillion dollars by now.

That is how large one trillion dollars is.

In fact, if you went out today and started spending one dollar every single second it would take you more than 31,000 years to spend a trillion dollars.

But the United States is not one trillion dollars in debt.

The United States is 13 trillion dollars in debt.

If you donated one dollar every single second to pay off the national debt, it would take you over 403,000 years to come up with enough money to pay it off.

Are you starting to get the picture?

We are in trouble.

And unfortunately, the debt just continues to accelerate.

Based on data from the International Monetary Fund, it is being projected that the national debt will exceed the gross domestic product of the United States in 2012.

That is a threshold that many economists are warning us that we must not cross.

But cross it we will.

And it isn’t just government debt that is the problem.

The total of all government, corporate and consumer debt in the United States is now equal to 360 percent of GDP.  That is a far greater level than the U.S. ever approached during the Great Depression.

So are our politicians and leaders doing anything about this horrific crisis?

No, they keep on spending money like Wall Street executives that have been let loose on the Vegas strip.

Obama, Pelosi and Reid continue to push an endless parade of insane spending bills, but now even some of their Democrat allies are thinking that maybe enough is enough.

During a “closed-door meeting” with a small group of House Democrats last month, Nancy Pelosi heard complaints from members of her own party that were not happy about having to vote on big spending bills at a time when many American voters think government spending is wildly out of control.

Now why in the world would American voters think that U.S. government spending is out of hand?

Could it be the $2.6 million tax dollars that was spent to study the drinking habits of Chinese prostitutes?

Could it be the $400,000 tax dollars the U.S. government paid researchers to cruise six bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk?

The examples could go on and on.

When it comes to wasting money, nobody does it better than the U.S. government.

But guess what – you can help.

The U.S. government is actually taking online donations that will go towards paying off the national debt.

You can help bail out Obama, Pelosi and Reid.

Of course whatever money you send them will probably be thrown right down the drain as well.

The truth is that we have become a wildly corrupt society that is recklessly throwing away the national wealth that our forefathers left to us.

But instead of taking responsibility and working to correct their mistakes, members of the Obama administration are blaming capitalism and the free market for our troubles.

In fact, a key member of Barack Obama’s Fiscal Responsibility Commission says that “worshipping the market” has failed America.

What in the world?

So what will work?

European-style socialism?

Things aren’t going too well for Europe either.

The truth is that the entire globe is now caught in the grip of a devastating sovereign debt crisis.

So just how bad are things going to get?

Anthony Fry, the senior managing director at Evercore Partners, recently told CNBC that things are getting so bad out there that he is “considering investing in barbed wire and guns”.

Yes, the good times are just about over.

But it did not have to turn out this way.

We could have lived within our means and left America in great shape for the generations that follow us.

But we did not do that.

Instead we have saddled our children and grandchildren with the greatest debt burden in the history of the world.

What we have done to future generations is beyond criminal.  One day, if they get the chance, they will look back and curse this generation for what we have done to them.  We spent all their money and we have stuck them with the bill for our wild excesses.  We have taken the great American economic machine and we have driven it straight off a cliff.

And yet we are so proud of ourselves.  We think that we are so special and that we have all the answers.

The truth is that we have wrecked the financial future of all the generations of Americans that are going to follow us.  Over and over we kept sending the same jokers back to Washington D.C. and they kept on spending our money like it was some kind of giant game of Monopoly.

So now we are going to pay the price.

All of us.

A tremendous amount of economic pain and hardship is coming and it is going to affect all Americans.  Nobody is going to be able to escape it completely.  We are about to reap what we have sowed.  We are heading into what many analysts are already calling “the greatest depression”.

Already 40 million Americans are on food stamps.  But things are going to get a lot worse in the years ahead.  The America of tomorrow is not going to be anything like the strong, powerful, prosperous country that we all used to know and love.

But it is our fault.  We continued voting for the members of both political parties that kept recklessly getting us into increasing amounts of debt year after year.  We did not keep them accountable.  We did not wake up.  So now we are going to pay a very hard price.

Keep your family safe in the coming collapse: expert tips on how to survive the end of society.

Instantly Add To The Conversation Using Facebook Comments

comments

  • http://n/a Susan Barrett

    It is not about money now it is about power! Once the Elite get what they want there will be no debt. Your talking people who are slaves earning little to nothing and hanging on to survive. How could they possibly pay any debt.

    But all of this is quite mute for those same Elite (the banksters) have other plans for us. A drastic reduction in population through biologicals, a world war and starvation.

    The last thing we need to be concerned with is debt. They are not and we should not either. Do you remember the interview Woodward had with Bush after the 60 minute interview? I do the question was how do you see what history has to say bout you? Bush pretty much said it all What History we will all be dead. http://dissidentvoice.org/April2004/Rolirad0420.htm

    He knows and so do many in the high end but we are kept in the dark and fed bovine excrement like mushrooms.

  • Greg

    Susan – Excellent comments. We all want a better life and we want to hope that things will get better but readers must understand that the questions and supposed solutions that most people are posting are no longer valid. It is like going to a doctor and we keep getting sicker but we keep going back to the same doctor. We must accept the fact that in this case the doctor does not want you to get better – he wants you dead. If it was “all about money” like so many people keep saying, we wouldn’t see “Eliminate 95% of the Population” Ted Turner give a billion dollars to vaccinate people in Africa or Bill Gates who also espouses population reduction give billions to reduce population with things like aerosol vaccines or virtually all of the elites give millions to Planned Parenthood so they can spread their ongoing Nazi genocide to the blacks and poor. The elites now control the world and we, like the deer, have stepped into the snare, just waiting for the arrow to pierce our liver. The focus now is not on changing things to make them better but instead the focus needs to be on how you are going to prepare for this genocide. My firm belief is that the world is in this mess because we cast off the yoke of Jesus Christ and the disasters foretold in Revelation are the result of handing over this earth to Satan. He will now fully play his hand and the results are not going to be enjoyable. However, for those who have repented and believed in the Lord Jesus Christ and stand firm to the end, we have a blessed hope. Please don’t beleive that because this is America all is going to be well. It won’t, and preparing for that reality is critical.

  • Tim

    Most of the members of Congress are completely out of touch with reality. There are a few exceptions, but most of them only care about their power, influence and lucrative retirment plans. Our national debt is actually much, much higher than $13 trillion due to unfunded entitlment programs. We’ve promised much more than we can afford to pay in social insurance programs. The truth is we are in a financial hole that we will never get out of. It almost seems as if the members of Congress are intentionally destroying this nation. I mean, David Walker, for example, has been sounding the alarm for many years now and trying to wake our lawmakers up. Some have listened; most haven’t.

    I really believe that we have already passed the point of return. Though we could conceivably turn this nation around, it would require very painful decisions. But it doesn’t look like we have the kind of leadership we need to make those decisions. Drastically cutting spending or raising taxes is tantamount to political suicide. Most lawmakers only care about getting reelected.

  • Charles

    Unless and until we reduce military spending (1 trillion per year) by at least 50%, restore the income tax rates of the Eisenhower Administration, and eliminate the loopholes that allow most of our major corporations to pay little or no tax, we will never get out of the hole.

    Unfortunately the economic collapse caused by the policies of Reagan/Bush/Clinton/Bush have put us in a situation where we need the government to spend money to create jobs and stimulate the economy. However, neither the Dems or Repubs are about to permit that. Their owners don’t want to restore the middle class, they want cheap labor and banana republic conditions so they can make ever more money. No point blaming Obama, Pelosi and Reid, they aren’t the cause and they won’t be the fix either. Both parties are serving the same interests, and those interests have nothing to do with the ordinary citizen and taxpayer.

  • bro43

    Charles is right, we do need to rein in military spending. Key to doing this will be repealling the 13th amendment or at least legalize competition in currency. The federal government is in posession of an “unlimited credit card” so to speak, and until it is voided they will continue to spend beyond what they collect in taxes, fees and tariffs. This “unlimited credit card” is the Federal Reserve Banking system that was enacted with the 13th amendment. It gave a monopoly of currency creation to the FRB, which they in turn go and buy treasury bonds with this new currency (which is really just digits in a plus/minus column). Lobby your legislators to vote for the audit the federal reserve bill championed by Ron Paul, it will be a good start to opening up the FRB which has enjoyed many years of complete secrecy in it’s dealings.

  • Steve

    We need more people like Peter Schiff in our congress. Hopefully Schiff gets elected and will shrink big government.