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...)
U.S. National Debt
14 Reasons Why The U.S. Government Will Never Have A Balanced Budget Ever Again
The United States government will never have another balanced budget again. Yes, you read that correctly. U.S. government finances have now reached a critical “tipping point” and things are going to spin wildly out of control from this time forward. Why? Spending on entitlement programs and interest on the national debt are now accelerating at exponential rates. Some time around 2020 they will eat up every single dollar of federal revenue that is brought in before a penny is spent on anything else. Of course the solution to all of this would be to radically cut entitlement programs, but no U.S. politician in his or her right mind would do that. After all, do you think elderly people (who vote in droves by the way) would vote for you after you just cut their Social Security checks in half? That is not the way the world works. You see, democracies always get into trouble once the people realize that they can vote for the candidates that promise them the largest gifts out of the public treasury. That is where the United States is at now. Over 100 million Americans now receive direct payments from the United States government. For millions of Americans, the American Dream now means getting a government check and kicking back and enjoying life. We have become a nation that is chock full of people that can’t take care of themselves and that are totally dependent on the monolithic nanny state that the U.S. government has created. (Read More...)
10 Reasons Why The Rand Paul Victory In Kentucky Is So Important
Declaring that “we’ve come to take our government back”, Tea Party favorite Rand Paul, the son of U.S. Representative Ron Paul, soundly defeated Kentucky Secretary of State Trey Grayson in a Republican primary fight for the U.S. Senate seat held by retiring Republican Senator Jim Bunning. He will now face Kentucky Attorney General Jack Conway, the winner of the Democratic primary, in the November election. It is hard to understate just how important this victory is for the Tea Party movement. The entire Republican establishment was behind Grayson and they tried desperately to get him enough support to win the primary. But it did not work this time. Usually when the Republican machine gets behind somebody, they have no problem winning a primary. Could this be a signal that politics in America is changing? Could this be a sign that the American people are so sick and tired of what is going on in Washington that they simply refuse to listen to the two big political machines (the Republicans and the Democrats) any longer? (Read More...)