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...)
Borrowing
33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt
The 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...)
30 Stupid Things The Government Is Spending Money On
If you want to get paid for doing something stupid, just turn to the U.S. government. The U.S. government is paying researchers to play video games, it is paying researchers to study the effects of cocaine on Japanese quail and it has spent millions of dollars to train Chinese prostitutes to drink responsibly. The amount of money that the government wastes is absolutely horrifying. Do you remember all of that political wrangling over the debt ceiling deal last year? Do you remember how our politicians told us that there were cutting spending as much as they possibly could? Well, it was all a giant lie. As you will see below, the U.S. government is spending money on some of the most stupid things imaginable. What makes all of this even worse is that we are going into enormous amounts of debt in order to pay for all of this. We are borrowing billions of dollars a day in order to pay for stupid stuff that no government on earth should ever be paying for. Trust me, you are going to find it hard to believe some of the stuff in this list. It is almost inconceivable what our politicians are doing with our tax dollars. (Read More...)
The Debt Bomb: 7,600,000,000,000 Dollars Of Debt Must Be Rolled Over In 2012
When it comes to government debt, it is not just new debt that is the problem. Every single year, governments around the world must “roll over” gigantic mountains of debt that come due. That means that the actual borrowing that takes place each year is far greater than the yearly budget deficits that you see talked about on television. In 2012, a total of 7,600,000,000,000 dollars of debt must be rolled over by the G-7 nations, Brazil, Russia, India and China. When you add in interest payments, that number rises to over $8 trillion. And that does not even include any new borrowing that all of those nations will do in 2012. This is a debt bomb that could devastate the entire global economy at any time. Everything will be fine as long as global lenders are willing to lend these countries gigantic mountains of very cheap money. But if that changes, and there are already a multitude of signs that a massive global credit crunch has begun, it will mean a complete and total financial nightmare for the entire world. (Read More...)