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The reckless spending, high taxes, and intrusive regulation loved by the democrats and the biased media are going to ruin this country.
Absolutely nothing you write above is mentioned in the editorial YOU posted. Spending is down and the federal deficit is forecast to drop from $2.8 trillion in 2021 to $1 trillion this year and a bit less in 2023. The article is talking about future interest payments exploding, issues funding Medicare & social security. So far, we are ok due to the global demand for Treasuries and the US dollar is still the world's favorite currency. The author talks about a ticking "time bomb" that nobody wants to address. That, of course, includes Biden but is not just about the current POTUS. This has been an issue for a long time and this is a warning that something will need to be done to address the budget mismatch. I highly suggest you read the article you posted.
The reckless spending, high taxes, and intrusive regulation loved by the democrats and the biased media are going to ruin this country.
I would not have believed this until I read the other day that the Federal government's total assets were valued at $4.9 trillion to total liabilities of $34.8 trillion. . Now I am scared. If I were a lender I would NOT lend to the US Federal govt with an asset and debt ledger like this.
I would not have believed this until I read the other day that the Federal government's total assets were valued at $4.9 trillion to total liabilities of $34.8 trillion. . Now I am scared. If I were a lender I would NOT lend to the US Federal govt with an asset and debt ledger like this.
Where are you getting the $4.9 trillion in total assets? And, what do we mean by total assets?
To be fair - or clear - there has been NO LAWFUL MONEY since 1933.
So any talk of "coming bankruptcy" is 89 years too late.
The REAL problem is the obligated party on that 30+ trillion DOLLAR debt (it's not "Dollar bills")
Pursuant to Title 12 USC Sec 411, they're obligations of the US Gubmint. But they won't redeem them for real money.
So who's left with the bill?
You?
Me?
And with WHAT can we use to pay it?
Not gold. Coining all the gold in the world only amounts to 120 billion dollars (as defined by the Coinage Act of 1792 - not the post bankruptcy scam).
And since the "dollar bills" are debt (IOUs), they're minus value and cannot pay off the debt, either.
(-1) + (-1) = (-2)
. . . .
Check out the federal reserve site and look up the total amount of "notes" in circulation, and then consider how will anyone "cash out" for more than cents on the dollar bill - if that.
. . . .
But if you're signed up with FICA, as a "Contributor", you and yours are pledged as collateral on the public debt.
In gratitude for your sacrifice at becoming 30 trillion dollars in debt on behalf of the bankrupt government, they will graciously tax other people and their children to support YOU, when / if you become an eligible recipient of public charity ("entitlements").
Of course, the worthless notes keep dropping in buying value, so that a pure copper cent is worth more than a paper dollar bill. But the government will protect you from your creditors if you use their worthless notes instead of real money (gold or silver coin) as required by the USCON.
. . . .
Yes, it's been a slow, long decline.
And most people are victims of the world's greatest propaganda ministry that hides the fact that there was a socialist revolution in 1933, and that the government was reorganized as the PEOPLES DEMOCRATIC SOCIALIST REPUBLIC OF AMERICA.
There were quite a number of clues - the confiscation of all gold money - and criminalizing the possession of lawful money by "free" Americans.
The perpetual "temporary" State of Emergency, declared in 1933.
The Firearms Act that quietly took automatic weapons from "free" Americans - just in case they figured out that the Commies took over.
Socialist Insecurity - though voluntary - was promoted as mandatory, and suckered most Americans into lifelong indentured servitude.
The list goes on....
You don't believe that a government can COVERTLY "nationalize" all labor and industry, and take control?
The tax-to-GDP ratio for China, inclusive of social security contributions (SSCs), was 22.1% in 2019.
The spending-to-GDP ration for the USA, state, local & federal, is 39%-43%, in 2019. (Huge deficits are funding the spending, which will eventually increase the tax ratio to GDP).
"Free" Americans pay twice as much in taxes !
And for WHAT?
So that politicians and their allies can get rich and fat at our expense?
In 2010 60% of Americans received more in government assistance than they paid in taxes. With millions and millions more illegals, lazy asses and those who continue to play the cultural victim card and the lazy ones who won’t work I suspect it is much much higher.
For those who want a history lesson read up on England and the sterling prior to and after WW2.
The reckless spending, high taxes, and intrusive regulation loved by the democrats and the biased media are going to ruin this country.
You do realize that Obama was put into office to start the ball rolling, and that is why Pedo Joe in his state of dementia was put in office. I did say won an election in either case.
They must break the economy to move "The New World Order" forward. Biden was the perfect puppet for those behind this insanity.
While they say this is a conspiracy theory, what would one expect them to say? With the way things are falling into place, it is not a conspiracy theory.
The goal is to break us, and the influx of illegal aliens is a big part of that plan as we cannot support millions more people, when we have citizens living on the streets, and citizens living in very unsafe places.
Third world here we come, after all our and our ancestors sacrifices to have we have today.
When the Federal Reserve buys the debt, which is what QE is, they will never require repayment or unwind the debt unless there's major inflation according to their manipulated inflation numbers.... it's basically like a form of debt monetization. They claim to be trying to control inflation. We shall see if they keep their word. There will always be more inflation than they state because their numbers are manipulated.
There is too much debt to service and inflation/monetization are the only options at this point. There are too many unfunded liabilities. There's no way to "balance the budget" without causing a depression.
IMO this forms the basis of how we fund massive needs moving forward. And how it does not have to be anyone's undoing.
The basic points are that the Fed can create money from nothing and purchase any amount of federal debt. That doesn't mean that they do, it means that they can. That debt can potentially be held into perpetuity. And when the Fed owns that debt, almost all its interest received is swept back to the Treasury. This went on post-2008 crash, sans inflation and now since Covid/Trump 2020, with inflation.
So far the ticking time bomb of debt has been nominal. Compared to 1988, with nominal inflation, our interest payments are our national debt are similar. And our debt/GDP also remains nominal.
Lol.
The US is already toast. There’s no going back. This country is shot! The damage is irreversible.
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. Now I am scared. 
