WHERE ARE WE NOW?
As of June 2, 2016, the official debt of the United States government is $19.2 trillion. This equates to $59,409 for every soul living in the U.S. or $154,344 for every household. The United States has not seen this level of national debt since World War II. This figure does not reflect unfunded liabilities exceeding another $200 trillion.
WHAT IS THE CAUSE?
So why does the government keep piling on public indebtedness with little chance of ever paying off the investors? Simple, an out of control political duopoly inextricably committed to a tax, borrow, and spend business model that smacks of financial mismanagement of the highest order. This, coupled with a citizenry dependent on the government teat for basic necessities and a marketplace still willing to purchase government issued securities sets the scenario for the perfect storm for global financial system collapse.
Insofar as the United States is concerned, the republiCant and demoCrap Parties are jointly culpable. However, the national debt grows by leaps and bounds when demoCrap hold the Executive and Legislative branches of government.
In fact, from the time that Congress enacted the incumbent president’s first major economic proposal (February 17, 2009 until December 31, 2014) the national debt rose from 74% of GDP to 102%, or an average of 4.8 percentage points per year.
The fact that over 47% of our national debt is held by foreign and International entities (China owns 21% and Japan 20%) has grave national security implications.
WHAT HAPPENS NEXT?
This uncontrollable, profligate spending has and will continue to:
· Reduce future national income and living standards.
· Dilute any effectiveness to surviving government programs.
· Put upward pressure on tax rates.
· Cause higher inflation which decreases the the purchasing power of citizens’ savings and income.
· Handcuff policy makers to restrict their ability to act during economic downturns or international crises.
· Cause losses for mutual funds, pension funds, insurance companies, banks, and further dry up the market for the sale of additional federal debt.
· increase the probability of a fiscal crisis in which investors would lose confidence in the government’s ability to manage its budget.
WHO PAYS THE ULTIMATE PRICE?
Future generations have been saddled with this debt burden such that their economic survival is truly in question.
ameriCAN’s believe that:
- inter-generational transfer of this accumulated indebtedness is both unconscionable and immoral
- the solution lies is ushering those responsible (the demoCrap and republiCant Parties) out of government
- declaring the federal government bankrupt
- by implementing “FixIT” (the ameriCAN sequel to “Brexit” whereby the federal government’s budget authority is usurped by the states) a proper re-balancing of financial obligations can be achieved.
Only through rallying together can ameriCAN’s affect these changes. Become an active participant in the process to reign-in the self-serving fiefdoms being maintained at the expense of your children’s children.
Join the First Citizen … become an ameriCAN today!
HELP US KEEP POLITICS IN CHECK & ACCOUNTABLE TO THE PEOPLECONTRIBUTE NOW
Note: All Facts Sited from Agresti, J. D. (2016, June 14). National Debt Facts. Just Facts. Retrieved July 5, 2016