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...)
The U.S. National Debt
At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year
Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will cross 20 trillion dollars before Inauguration Day. After promising us that “deficits are under control”, the federal debt jumped by more than 1.3 trillion dollars last fiscal year, and so far this year it is on pace to rise by a record-shattering 2.4 trillion dollars. This is a recipe for national suicide, and yet it wasn’t even a major issue during the recently concluded presidential campaign. (Read More...)
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...)