America
Is Committing Suicide: Over The Past 12 Months, The U.S. National
Debt Has Increased By 1.271 Trillion Dollars
1
October, 2018
If
we do not change course, our once great nation will be destroyed by a
debt that has grown wildly out of control. We are facing an
unprecedented debt crisis that literally threatens to bring our
country to an end, and yet our politicians are almost entirely silent
on this issue in 2018. In fact, Republicans and Democrats just
worked together to pass another big, fat spending bill through
Congress that is actually going to increase the
pace at which we are going into debt. What the Republicrats are
doing is not just wrong. To be honest, the truth is that they
are committing crimes against humanity, and they are completely
wiping out the very bright future that our children and our
grandchildren were supposed to have. How in the world is
America supposed to be “great again” when we are buried in so
much debt that future generations can never have any possible hope of
getting free from it?
The
fiscal year of the federal government goes from October 1st to
September 30th. During the fiscal year that just ended, the
U.S. national debt increased by
1.271 trillion dollars…
The federal debt increased by $1,271,158,167,126.72 in fiscal 2018, according to data released today by the Treasury.
The total federal debt started the fiscal year at $20,244,900,016,053.51 according to the Treasury, and finished the fiscal year at $21,516,058,183,180.23.
This
is one of the reasons why I wanted to go to Washington. Our
current “representatives” are completely and utterly failing us.
Once
upon a time, at least members of the Tea Party would stand up and say
something, but these days nobody seems to care that America’s
future is being systematically destroyed. Republicans have been
in control of both houses of Congress, but our debt problems just
continue to get worse and worse. And the truth is that the
budgets that have been passed since Donald Trump became president are
simply slightly revised Obama budgets. The Republicans have
allowed the Democrats to have their way time after time, and it has
been absolutely disgusting to watch.
In
8 of the past 11 fiscal years, the U.S. national debt has risen by
more than a trillion dollars, and the U.S. national debt is now
sitting at an all-time record high of 21.52 trillion dollars.
What
we are doing is literally insane, and if we want our nation to
survive we must change course immediately.
These
days, there is a lot of discussion about the political gains that
“Democratic socialists” have been making all over America, and
Republicans are trying to assure us that the American people don’t
actually want socialism.
But
you know what?
We
have already gone most of the way down the road toward socialism.
I think that Ron Paul made this point very well in
his most recent article…
We know socialism does not work. It is an economic system based on the use of force rather than economic freedom of choice. But while many Americans seem to be in a panic over the failures of socialism in Venezuela, they don’t seem all that concerned that right here at home President Trump just signed a massive $1.3 trillion dollar spending bill that delivers socialism on a scale that Venezuelans couldn’t even imagine. In fact this one spending bill is three times Venezuela’s entire gross domestic product!
Did I miss all the Americans protesting this warfare-welfare state socialism?
If
you are really against socialism, you should be fighting for the
federal government to be greatly reduced in size and scope.
But
so few Americans seem to believe in true limited government these
days.
It
would be a great first step if we would actually try to start living
within our means. But if 1.271 trillion dollars of government
spending was pulled out of the economy over the past 12 months, the
result would be a horrible economic depression. And politicians
do not like economic downturns, because when things get bad voters
tend not to vote for incumbents. So they just keep going into
more debt and they keep kicking the can down the road.
But
if we stay on the path that we are currently on, the CBO says that
the United States will be 99
trillion dollars in debt by
2048.
Of
course we will never actually ever get to 99 trillion dollars in
debt. America will cease to exist long before we ever reach
that mark.
If
we want to save America, we must take action now,
but very few people seem to even care about our exploding debt at
this point.
And
it isn’t just our national debt that is the problem. State
and local government debt is at record levels all over the nation,
corporate debt has doubled since the last financial crisis, and U.S.
consumers are
more than 13 trillion dollars in debt…
If you added up the personal debt of every American — what they owe on their mortgages, credit cards, student loans, and more — the total is staggering. Collectively, we’re $13.2 trillionin the red. That’s the highest ever, according to the New York Fed.
Yet no one seems to be panicking. Maybe that’s because we can’t comprehend $13 trillion. Imagine buying every NFL team. And every NBA team. And every NHL team. And every Major League Baseball team. But that only adds up to $191 billion.
America
is committing suicide in slow-motion, and it is an absolutely
heartbreaking thing to witness.
It
is almost as if we lack the will to survive as a nation. All we
seem to care about is our comfort level at this moment, and we don’t
want anyone to tell us that we have to cut back on anything. I
think that Chris Martenson summed things up very well in
his most recent piece…
Nothing grows forever. Cancer tries, but always defeats itself in the process. Yeast parties until all the sugar in the vat is gone or it pollutes itself out of an active existence.
Can humans do better? The jury is still out on that.
But so far, the signs say that, as a group, we lack the ability to organize effectively against big, complex challenges. Especially if doing so requires us to willingly choose to live a life of less. We’re simply too addicted to more.
We
cannot continue to go down this road.
Because
at the end of this road is not just economic collapse. What we
are talking about is literally the end of the United States of
America.
All
throughout history, great societies have been done in by greed,
sloth, corruption and laziness, and we are headed down the exact same
path. If we want to survive, emergency surgery is necessary,
but at this point nobody is even tending to the dying patient.
The Stock Market Just Crashed In Italy, And Argentina Has Panic-RaisedInterest Rates To 65 Percent
In
the 9th largest economy in the world, the financial markets are
crashing, and in the 21st largest economy in the world the central
bank just raised interest rates to 65 percent to support a currency
that is completely imploding. While the mainstream media in the
United States continues to be obsessed with all things Kavanaugh, an
international financial crisis threatens to spiral out of control.
Stock prices are falling and currencies are collapsing all over the
planet, but because the U.S. has been largely unaffected so far the
mainstream media is mostly choosing to ignore what is happening.
But the truth is that this is serious.
The financial crisis in
Italy threatens to literally tear the EU apart, and South America has
become an economic horror show. The situation in Brazil
continues to get worse, the central bank of Argentina has just raised
interest rates to
65 percent,
and in Venezuela starving people are literally eating cats and dogs
in order to survive. How bad do things have to get before
people will start paying attention?
On
Friday, Italian stocks had their worst day in more than two years,
and it was the big financial stocks that
were on the cutting edge of the carnage…
Shares in Italian banks .FTIT8300, whose big sovereign bond portfolios makes them sensitive to political risk, bore the brunt of selling pressure, sinking 7.3 percent as government bonds sold off and the focus turned to rating agencies.
Along with the main Italian stock index .FTMIB, the banks had their worst day since the June 2016 Brexit vote triggered a selloff across markets.
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