Debt

Debt Slaves: 7 Out Of 10 Americans Believe That Debt ‘Is A Necessity In Their Lives’

Debt Slave Debt Slavery Debt Bondage Debt Chains - Public DomainCould you live without debt?  Most Americans say that they cannot.  According to a brand new Pew survey, approximately 7 out of every 10 Americans believe that “debt is a necessity in their lives”, and approximately 8 out of every 10 Americans actually have debt right now.  Most of us like to think that “someday” we will get out of the hole and quit being debt slaves, but very few of us ever actually accomplish this.  That is because the entire system is designed to trap us in debt before we even get out into the “real world” and keep us in debt until we die.  Sadly, most Americans don’t even realize what is being done to them. (Read More...)

Metaphor For America: Starving 4 Pound Baby Dies In Car While Parents Eat At Golden Corral

Golden Corral - Photo by Park92What should be done to parents that stuffed themselves full of food at a Golden Corral while their starving four pound baby girl died in their car outside?  This actually just happened down in Florida, and it is a crime that is shocking the entire nation.  Sadly, it is also a perfect metaphor for what is happening to the country as a whole.  We have become an exceedingly selfish and self-centered society that seems to care very little that we are literally destroying the future of America.  We are stealing trillions of dollars from future generations and destroying what was once the greatest economy in the history of the world just to make ourselves a little bit more comfortable in the present.  We stand by and do nothing while our politicians flush the U.S. Constitution down the toilet and construct a Big Brother police state all around us.  We have become a nation of “sheeple” and “zombies” that are so addicted to entertainment that we can’t even see how our society is rotting and decaying in thousands of different ways all around us.  So yes, the parents that starved their precious little baby girl to death are guilty and should be punished.  But what about the millions of Americans that are doing nothing while America slowly circles the toilet on the way to oblivion? (Read More...)

18 Sobering Facts About The Unprecedented Student Loan Debt Crisis In The United States

Student Loan DebtThe student loan debt bubble in America is spiraling out of control, and it is financially crippling an entire generation of young Americans.  At this point, the grand total of student loan debt in the United States has reached a staggering 1.2 trillion dollars, and an all-time record high 40 million Americans are currently paying off student loan debts.  Just when our young people should be planning on buying homes and starting families, they find themselves financially paralyzed by oppressive levels of debt.  What makes all of this even worse is that only some of our college graduates are able to get the “good jobs” that we promised them.  So with limited job prospects and suffocating levels of debt, this generation of young Americans is increasingly putting off major life commitments such as buying a home and getting married.  As a society, we really need to rethink how we are “educating” our young people, because what we are doing now is clearly not working.  The following are 18 sobering facts about the unprecedented student loan debt crisis in the United States… (Read More...)

Why John Boehner And Paul Ryan Should Immediately Resign

U.S. Capitol - Photo by Lance CheungThomas Jefferson once said that “the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”  In other words, he believed that government debt was the equivalent of stealing money from future generations on a massive scale.  Right now, the U.S. government is stealing roughly $100,000,000 from future generations of Americans every single hour of every single day.  And it is being projected that the U.S. national debt will more than double during the 8 years of the Obama administration.  In other words, the federal government will pile more debt on to the backs of our children and our grandchildren during the Obama years than had been accumulated during all of the rest of U.S. history combined.  The federal government is literally destroying the future of America, and what we are doing to our children and our grandchildren is beyond criminal.  If there was one thing that the Republicans in Congress were supposed to do, it was to do something about all of this debt.  These days Republicans can’t seem to agree on much, but the one issue that virtually all “conservatives” were supposed to agree on was the national debt.  The American people gave the Republicans control of the House in 2010 and 2012 for a reason.  Unfortunately, nothing has been done.  Our debt has continued to spiral out of control and now John Boehner and Paul Ryan are pushing a “budget deal” that will essentially give the free-spending Democrats virtually everything that they want for the next 10 years.  That is why John Boehner and Paul Ryan should immediately resign. (Read More...)

33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt

Tea Party SignThe U.S. national debt is 36 times larger than it was just 40 years ago.  That is not a misprint.  That is actually the truth.  We are literally destroying the future of America, but most Americans don’t really seem to care.  In fact, the most hated politicians in America are the Tea Party politicians that recently tried to take a stand against the out of control borrowing that the federal government has been doing.  Pew Research has just released a new survey that shows that the popularity of the Tea Party is at an all-time low.  So while many Americans may say that they theoretically want something to be done about the national debt, when push comes to shove they don’t actually mean that.  You see, the reality of the matter is that about 128 million Americans get money from the federal government every month.  That accounts for the majority of all government spending.  Anyone who tries to take those goodies away is going to be hated.  So we are going to continue down this crazy path until the system completely crashes someday. (Read More...)

29 Shocking Facts That Prove That College Education In America Is A Giant Money Making Scam

College Graduates By Kit from Pittsburgh, USACollege education in the United States has become a cruel joke.  We endlessly push our high school kids to invest tens of thousands of dollars and at least four years of their lives to get a college education because they won’t have any sort of a “future” without it.  So they sign up for decades of debt slavery and spend years listening to pompous windbags fill their heads with utter nonsense.  The sad truth is that most college courses are a total joke and they do very little to actually prepare those students for the real world.  I know – I attended public universities in the United States for eight years.  Most college courses are so easy that the family dog could pass them.  When they finally graduate, our young people discover that they were lied to all along.  The promised “good jobs” are not there for most of them, but the huge debts that they committed themselves to will follow them around permanently.  When you are just starting out and you are not making a lot of money, having to make payments on tens of thousands of dollars of student loan debt can be absolutely crippling.  This is why I say that college education in America is a giant money making scam.  Our young people are seduced by the idea of college being a five year party that will provide an automatic ticket into the middle class, but the reality is that the only guarantee is that it is a ticket to serfdom unless you have wealthy parents that are willing to foot the bill for you.  And bankruptcy laws have been changed to make it incredibly difficult to get rid of student loan debt, so once you have signed up for student loan debt slavery you are basically faced with two choices: either you are going to pay it or you are going to die with it. (Read More...)

1.6 Trillion Dollars More Debt: Fiscal Conservatives Have Been Raped By The Republican Party

What the Republican Party has done to fiscal conservatives over the past year and a half has been a betrayal so vast that it is difficult to find words to describe it.  Back in 2010, the Tea Party was riding high and a flood of new Republicans was sent to the U.S. House of Representatives in one of the greatest landslides in U.S. political history.  On election night 2010, more House seats changed hands than in another other election since 1948.  It was the greatest defeat for any sitting president in a midterm election since 1938.  After the election, the Democrats were left with fewer House seats than at any other time since 1946.  Needless to say, it was an absolutely historic election.  The Tea Party completely dominated American politics that night, and they sent the Republican Party a clear message that they wanted government debt to be brought under control.  So what has changed since then?  Not much.  The U.S. government is still running trillion dollar deficits every single year.  I have previously spent a lot of time blaming Barack Obama and the Democrats for this, but the truth is that they could not have spent a single penny without the approval of the U.S. House of Representatives.  So the Republican Party is complicit in this crime against the American people.  If there was ever a mandate to take a stand against runaway government debt, it was after the 2010 election, and the Republican Party has failed miserably.  So what are fiscal conservatives supposed to do now? (Read More...)

The Real Obama Budget Deficit For 2011: 5 Trillion Dollars

If the U.S. government used the same accounting methods that most U.S. businesses use, the real federal budget deficit for last year would have been 5 trillion dollars instead of 1.3 trillion dollars.  So where does the huge difference come from?  I think a simple illustration would be helpful here.  When you go shopping, do you only count the transactions where you use cash, or do you also count the transactions where you signed on the dotted line and promised to pay later?  Of course you count both of them.  Well, the U.S. government does not count promises to pay later when calculating budget deficits.  The “official” Obama budget deficit for 2011 was 1.3 trillion dollars, but according to USA Today when you add in the rise in liabilities for Social Security, Medicare and other retirement programs that adds another 3.7 trillion dollars to the total.  Those are future financial promises that we have made that future taxes are not expected to cover.  This analysis by USA Today squares very well with what analysts such as John Williams of shadowstats.com have been saying for years.  The truth is that our federal budget deficits have actually been far worse than we have been told. (Read More...)