Blog Archives

Heavily In Debt Millennials Now Must Foot The Federal Deficit Bill Too

By Evan Feinberg

Millennials were born free, but everywhere we’re now in chains. The culprit is the skyrocketing national debt levels of the past decade, which have hurt young Americans and Millennials more than anyone else. We’re already facing enough personal debts as it is — and now we’re being asked to pay for everyone else’s.

Our debts start close to home. Today, the average college graduate is trying to pay down $35,200 in student loan debt. If that weren’t bad enough, we’re also looking at a job-market with near-record 16% unemployment rate for 18-29 year olds. That means we have more bills than ever — and fewer jobs to pay them off.

With such burdens, it’s hard for us to plan for the future. But our personal debt problems pale in comparison to the one that politicians are foisting upon us with out-of-control spending in Washington. The national debt, which now clocks in at nearly $17 trillion, continues to grow.

And just like our student loans, we’re going to be stuck with paying the bill.

Unfortunately, paying down these debts becomes harder with every passing day. Our debt to gross domestic product ratio now exceeds 100% — which means our government has produced more debt than the entire American economy produces useful commodities each year. Politically easy proposals such as “taxing the rich” can’t fix this crisis — even taking every last penny of the one percent’s money won’t put a dent in our debt. The U.S. can pay off its debts, but it’s going to take significant to government spending.

Clearly, our elected officials need to make some tough decisions. But they had an opportunity to do just that with the debt ceiling.

Lawmakers once again failed to avoid the complacency that has made continued debt ceiling increases the status quo. Inaction by our elected leaders is at the root of the problem. Passing the buck works great for re-election campaigns, but only at the cost of a bright future for my peers, my children, and every future generation thereafter.

That’s why Millennials need to take a stand. At a bare minimum, we need to demand dollar for dollar cuts as a condition for raising the debt ceiling again in January. That’s right: for every new dollar our government wants to spend, they should also find another dollar to cut or save. Good thing there are no shortage of options.

Major entitlement spending consumed nearly half of the entire federal budget in 2012, and will grow to nearly two-thirds of budget in the next decade. Trustees for both Social Security and Medicare admitted that neither program will survive past 2033 without changes. Only 18% of young Americans actually believe they will receive Social Security benefits. Serious entitlement reform is a necessity, and simply raising the Social Security eligibility age by two years could save $148 billion. The program will collapse without serious reform; the only missing ingredient is political courage.

Fraud, redundancy, and wasteful spending across government agencies are costing taxpayers billions of dollars every year. In light of the recent shutdown, perhaps it’s not such a bad idea to figure out just now “non-essential” some of the federal government really is. Just reforming and reducing the massive federal workforce would save another $150 billion.

Additionally, the federal government owns vast amounts of land west of the Mississippi river — land that’s valued between $500 billion to $1 trillion according to the Congressional Research Service. Selling that land for private use would bring huge financial windfalls that could be used to responsibly pay down federal deficits, and provide untold economic growth. On top of that, the government spends more than $8 billion a year just maintaining 70,000 vacant buildings and properties.

The list of possible changes goes on. Now we just need for our elected officials to have the courage to make these hard choices and stop kicking the can down the road no matter what. It’s time for politicians in Washington to put the next generation before the next election.

Evan Feinberg is the President of Generation Opportunity.

Source

Main Core: A List Of Millions Of Americans That Will Be Subject To Detention During Martial Law

Published on Tuesday, 11 June 2013 10:21
Written by American Dream

Are you on the list?  Are you one of the millions of Americans that have been designated a threat to national security by the U.S. government?  Will you be subject to detention when martial law is imposed during a major national emergency?  As you will see below, there is actually a list that contains the names of at least 8 million Americans known as Main Core that the U.S. intelligence community has been compiling since the 1980s.

A recent article on Washington’s Blog quoted a couple of old magazine articles that mentioned this program, and I was intrigued because I didn’t know what it was.  So I decided to look into Main Core, and what I found out was absolutely stunning – especially in light of what Edward Snowden has just revealed to the world.  It turns out that the U.S. government is not just gathering information on all of us.  The truth is that the U.S. government has used this information to create a list of threats to national security that the government would potentially watch, question or even detain during a national crisis.  If you have ever been publicly critical of the government, there is a very good chance that you are on that list.
The following is how Wikipedia describes Main Core…

Main Core is the code name of a database maintained since the 1980s by the federal government of the United States. Main Core contains personal and financial data of millions of U.S. citizens believed to be threats to national security. The data, which comes from the NSA, FBI, CIA, and other sources, is collected and stored without warrants or court orders. The database’s name derives from the fact that it contains “copies of the ‘main core’ or essence of each item of intelligence information on Americans produced by the FBI and the other agencies of the U.S. intelligence community.”

It was Christopher Ketchum of Radar Magazine that first reported on the existence of Main Core.  At the time, the shocking information that he revealed did not get that much attention.  That is quite a shame, because it should have sent shockwaves across the nation…

 

According to a senior government official who served with high-level security clearances in five administrations, “There exists a database of Americans, who, often for the slightest and most trivial reason, are considered unfriendly, and who, in a time of panic, might be incarcerated. The database can identify and locate perceived ‘enemies of the state’ almost instantaneously.” He and other sources tell Radar that the database is sometimes referred to by the code name Main Core. One knowledgeable source claims that 8 million Americans are now listed in Main Core as potentially suspect. In the event of a national emergency, these people could be subject to everything from heightened surveillance and tracking to direct questioning and possibly even detention.

Of course, federal law is somewhat vague as to what might constitute a “national emergency.” Executive orders issued over the last three decades define it as a “natural disaster, military attack, [or] technological or other emergency,” while Department of Defense documents include eventualities like “riots, acts of violence, insurrections, unlawful obstructions or assemblages, [and] disorder prejudicial to public law and order.” According to one news report, even “national opposition to U.S. military invasion abroad” could be a trigger.

So if that list contained 8 million names all the way back in 2008, how big might it be today?

That is a very frightening thing to think about.

Later on in 2008, Tim Shorrock of Salon.com also reported on Main Core…

Dating back to the 1980s and known to government insiders as “Main Core,” the database reportedly collects and stores — without warrants or court orders — the names and detailed data of Americans considered to be threats to national security. According to several former U.S. government officials with extensive knowledge of intelligence operations, Main Core in its current incarnation apparently contains a vast amount of personal data on Americans, including NSA intercepts of bank and credit card transactions and the results of surveillance efforts by the FBI, the CIA and other agencies. One former intelligence official described Main Core as “an emergency internal security database system” designed for use by the military in the event of a national catastrophe, a suspension of the Constitution or the imposition of martial law.

So why didn’t this information get more attention at the time?

Well, if Obama had lost the 2008 election it might have.  But Obama won in 2008 and the liberal media assumed that he would end many of the abuses that were happening under Bush.  Of course that has not happened at all.  In fact, Obama has steadily moved the police state agenda ahead aggressively.  Edward Snowden has just made that abundantly clear to the entire world.

After 2008, it is unclear exactly what happened to Main Core.  Did it expand, change names, merge with other programs or get superseded by a new program?  It appears extremely unlikely that it simply faded away.  In light of what we have just learned about NSA snooping, someone should ask our politicians some very hard questions about Main Core.  According to Christopher Ketchum, the exact kind of NSA snooping that Edward Snowden has just described was being used to feed data into the Main Core database…

A host of publicly disclosed programs, sources say, now supply data to Main Core. Most notable are the NSA domestic surveillance programs, initiated in the wake of 9/11, typically referred to in press reports as “warrantless wiretapping.” In March, a front-page article in the Wall Street Journal shed further light onto the extraordinarily invasive scope of the NSA efforts: According to the Journal, the government can now electronically monitor “huge volumes of records of domestic e-mails and Internet searches, as well as bank transfers, credit card transactions, travel, and telephone records.” Authorities employ “sophisticated software programs” to sift through the data, searching for “suspicious patterns.” In effect, the program is a mass catalog of the private lives of Americans. And it’s notable that the article hints at the possibility of programs like Main Core. “The [NSA] effort also ties into data from an ad-hoc collection of so-called black programs whose existence is undisclosed,” the Journal reported, quoting unnamed officials. “Many of the programs in various agencies began years before the 9/11 attacks but have since been given greater reach.”

The following information seems to be fair game for collection without a warrant: the e-mail addresses you send to and receive from, and the subject lines of those messages; the phone numbers you dial, the numbers that dial in to your line, and the durations of the calls; the Internet sites you visit and the keywords in your Web searches; the destinations of the airline tickets you buy; the amounts and locations of your ATM withdrawals; and the goods and services you purchase on credit cards. All of this information is archived on government supercomputers and, according to sources, also fed into the Main Core database.

This stuff is absolutely chilling.

And there have been hints that such a list still exists today.

For example, the testimony of an anonymous government insider that was recently posted on shtfplan.com alluded to such a list…

“We know all this already,” I stated. He looked at me, giving me a look like I’ve never seen, and actually pushed his finger into my chest. “You don’t know jack,” he said, “this is bigger than you can imagine, bigger than anyone can imagine. This administration is collecting names of sources, whistle blowers and their families, names of media sources and everybody they talk to and have talked to, and they already have a huge list. If you’re not working for MSNBC or CNN, you’re probably on that list. If you are a website owner with a brisk readership and a conservative bent, you’re on that list. It’s a political dissident list, not an enemy threat list,” he stated.

What in the world is happening to America?

What in the world are we turning into?

As I mentioned in a previous article, the NSA gathers 2.1 million gigabytes of data on all of us every single hour.  The NSA is currently constructing a 2 billion dollar data center out in Utah to store all of this data.

If you are disturbed by all of this, now is the time to stand up and say something.  If this crisis blows over and people forget about all of this stuff again, the Big Brother surveillance grid that is being constructed all around us will just continue to grow and continue to become even more oppressive.

America is dying right in front of your eyes and time is running out.  Please stand up and be counted while you still can

Source

The misunderstood history of nullification

By Mike Maharrey
National Communications Director
The Tenth Amendment Center

Could the recent Supreme Court ruling on the federal health care act bring conservative Republicans back to their state-sovereignty, nullification roots?

It just might.

Last week, two major conservative publications — National Review and The American Spectator — featured stories flirting with nullification. On top of that, millions of conservative Republicans got a nullification lesson on Thursday when Walter Williams guest-hosted “The Rush Limbaugh Show.”

Many Americans associate nullification with racism, because they think Southern states used the principle to protect slavery. In fact, northern abolitionists advanced nullification and appealed to “states’ rights” in their battle against fugitive slave laws. And while modern Republicans generally respond tepidly to the idea of nullification, their party was born out of a nullification fight in Wisconsin, a historical fact that long ago fell down an Orwellian memory hole.

Historically speaking, the Republican Party is the party of nullification.

In March of 1854, Benammi Stone Garland, two federal marshals and several others broke into the home of Joshua Glover. They clubbed him over the head, dragged him bleeding from his shanty and locked him up in the Milwaukee jail. Glover was an escaped slave, and Garland his “owner.” Legally, Garland had every right to take his “property” into custody and drag Glover back to Missouri. The Constitution provided for the return of escaped slaves. The Fugitive Slave Act of 1850 created the mechanism. The act denied due process to anyone accused of escaping slavery. Federal courts authorized the capture of fugitive slaves simply on the word of their “owners.” The accused weren’t even allowed to testify in their own defense. The Fugitive Slave Act was wildly unpopular and actively resisted in every northern state.

Wisconsinites quickly acted. Led by Sherman Booth, an abolitionist newspaper editor, several thousand people gathered on the steps of the Milwaukee courthouse. When a federal judge refused to release Glover on a writ of habeas corpus, the throng broke him out of jail and ushered him onto the famed Underground Railroad. Glover ultimately escaped to freedom in Canada.

The events of that spring day sparked a five-year battle between Wisconsin and the federal government. The feds charged Booth for violating the Fugitive Slave Act, but the Wisconsin Supreme Court freed him on a writ of habeas corpus, declaring the Fugitive Slave Act unconstitutional. Justice Abram Smith wrote, “Every jot and tittle of power delegated to the Federal Government will be acquiesced in, but every jot and tittle of power reserved to the States will be rigidly asserted.”

The aftermath of Glover’s escape led directly to the formation of the Republican Party. Anti-slavery meetings in the spring of 1854 spurred by the fight between Wisconsin and the federal government led to a statewide convention in July. The attendees formed a party and nominated candidates for the November elections. They called their new party “the Republican Party.” It flexed its muscle that fall, winning two of three congressional races and taking control of the Wisconsin legislature.

Republicans lost ground in 1855 when the party added temperance to its platform. But with the battle over slavery turning bloody in Kansas, Wisconsin Republicans turned things around in the 1856 elections. The fledgling party, promoting free soil and state sovereignty, took all three congressional seats, and grabbed firm control of the state assembly and senate. The Republican-controlled state legislature passed a resolution supporting the Wisconsin Supreme Court in nullifying the Fugitive Slave Act and interposing for Booth. It also defied federal law by passing a Personal Liberty Act. Among other things, the law gave county courts the power to issue writs of habeas corpus to fugitive slaves, made it the duty of district attorneys to seek their discharge and established fines of $1,000 for kidnapping free blacks.

The selection of Wisconsin’s next U.S. senator reveals the Republican Party’s deep state-sovereignty roots. The caucus put two resolutions to the candidates. The first endorsed Jeffersonian constitutionalism as expressed in the Kentucky Resolutions of 1798, which nullified the Alien and Sedition Acts. The second asserted that Republicans had a duty to stand by the state Supreme Court to “pronounce final judgment” in all matters regarding the reserved powers of the states and to shield residents from unconstitutional federal acts. Early front-runner Timothy Howe heartily endorsed the first resolution but equivocated on the second. He ultimately lost to James Doolittle, who pledged his full support for both resolutions.

The Republican Party grew from the soil of state sovereignty and nullification. Now is the time for Republicans to rediscover those roots and support state nullification of the federal health care act.

Mike Maharrey serves as the national communications director for the Tenth Amendment Center, a think tank promoting constitutional fidelity and working to restore a proper balance of power between the state and federal governments. You may contact Mike at: michael.maharrey@tenthamendmentcenter.com.

Source

Is the United States a Narco ‘Safe Haven’ for Mexican Drug Lords?

image

By: Sylvia Longmire

For years, if not decades, Mexican drug lords and various upper-level members of Mexico’s transnational criminal organizations (TCOs) have resided in the United States. But because the savage drug war in Mexico has become so dangerous for them, they now prefer to spend more and more time at their “vacation” homes in the relative safety of US cities and communities.

Knowing that violent TCO members are living among us is disturbing on many levels, and has begged the question of whether the United States can be equated to Pakistan as a country that allows itself to be a “safe haven” for violent criminals and narco-terrorists?

In April 2006, the Department of State defined terrorist safe havens as follows:

A terrorist safe haven is an area of relative security exploited by terrorists to indoctrinate, recruit, coalesce, train, and regroup, as well as prepare and support their operations… Physical safe havens provide security for many senior terrorist leaders, allowing them to plan and to inspire acts of terrorism around the world. The presence of terrorist safe havens in a nation or region is not necessarily related to state sponsorship of terrorism. In most instances cited in this chapter, areas or communities serve as terrorist safe havens despite the government’s best efforts to prevent this.”

Using the State Department’s own definition, one only has to replace the term “terrorist” with the term “TCO,” and a strong argument can be made that the United States fits technically can be construed to be a narco-terrorist safe haven.

Even Mexican President Felipe Calderón believes the US is a safe haven for leaders of cartels based in his country. In October 2011 he told The New York Times Joaquin “El Chapo” Guzmán Loera – the capo of the Sinaloa Federation and arguably the most wanted man in the Western Hemisphere – was holed up somewhere north of the border.

“The surprising thing here is that he or his wife are so comfortable in the United States” that it “leads me to ask … how many families or how many Mexican drug lords could be living more calmly on the north side of the border than on the south side?” Calderón asked.

“What leads Chapo Guzmán to keep his family in the United States?” Calderón mussed.

Calderón broached the subject of Guzmán’s wife because in August 2011 Emma Coronel gave birth to twin girls in a Los Angeles hospital. Calderón said reporters ought to be asking why she was never detained.

There are no charges pending against Coronel; therefore, US law enforcement agents have no grounds to detain her. And, unfortunately, the same is true of many other members of Mexico’s TCOs who are residing in the United States.

The fact is many TCO members and individuals working for them have dual citizenship or are legal permanent residents of America. While they may have extensive criminal records in Mexico, as long as they haven’t committed a crime in the United States and Mexico hasn’t sought their extradition, they can lead relatively normal lives north of the border without law enforcement interference. This isn’t to say US law enforcement agencies aren’t aware of their presence or activities; it’s just that there’s not much they can do unless these TCO members commit a crime here.

It’s this situation that ultimately separates the United States from places like Pakistan when it comes to the “safe haven” definition. In April 2009, the State Department wisely updated their definition to read:

Terrorist safe havens are defined in this report as ungoverned, under-governed, or ill-governed areas of a country and non-physical areas where terrorists that constitute a threat to U.S. national security interests are able to organize, plan, raise funds, communicate, recruit, train, and operate in relative security because of inadequate governance capacity, political will, or both.”

There are no areas in the US southwest that can be defined as “ungoverned, under-governed or ill-governed.” The US government is also not actively assisting TCO members living in the country or purposely ignoring their presence. In fact, US southern border region law enforcement agencies are more alert than ever to the potential threats posed by TCO members living in their jurisdictions. But that doesn’t mean the Mexican government will see it that way.

President Calderón has pointed his finger at the United States and blamed the federal government for the violence in his country. He says the drug war is a direct result of Americans’ demand for illegal drugs and US guns laws that allow tens of thousands of firearms to be smuggled across the border every year. Based on his casual statements about “El Chapo” Guzmán possibly living in the US, his next salvo may be to declare the United States a “narco safe haven” and to attempt some sort of legislative (and ultimately symbolic) action to this end.

Hopefully, this isn’t where Calderón is headed. He knows the US government is trying to fight this war as a partner with Mexico, despite its various policy shortcomings. President Obama also knows Calderón’s approval rating has been slipping and that his political party isn’t faring well in the run-up to Mexico’s July 2012 presidential election. It’s possible Calderón may still try to play the “narco safe haven” card, but if he does, it undoubtedly will be rebuffed by Obama.

In the meantime, US agencies can work harder to make America a much more difficult operating environment for TCO members by more aggressively scrutinizing suspicious financial transactions and expanding human intelligence networks to identify future drug smuggling activity.

Mexico’s “narcos” don’t operate in a vacuum on either side of the border. And while their networks are extremely difficult to penetrate, it’s not impossible. US law enforcement agents just need the proper tools and support to ensure that TCO members’ lives here are made as difficult as possible – that they’re made to understand their presence north of the border isn’t welcome.

A retired Air Force captain and former Special Agent with the Air Force Office of Special Investigations, Homeland Security Today correspondent Sylvia Longmire worked as the Latin America desk officer analyzing issues in the US Southern Command area of responsibilty that might affect the security of deployed Air Force personnel. From Dec. 2005 through July 2009, she worked as an intelligence analyst for the California state fusion center and the California Emergency Management Agency‘s situational awareness Unit, where she focused almost exclusively on Mexican drug trafficking organizations and southwest border violence issues. Her book, “Cartel: The Coming Invasion of Mexico’s Drug Wars,” was published in Sept. To contact Sylvia, email her at: sylvia(at)longmireconsulting.com.

Source

Another Economic Collapse and Great Depression are Coming! Here’s Why

https://i2.wp.com/www.munknee.com/wp-content/uploads/2011/07/crisis.jpg

It really is hard to find the words to describe the true horror of the national debt of the U.S.

Sunday, July 31st, 2011

The U.S. government has been on the greatest debt binge in all of human history, and a day of reckoning is coming that is going to be so painful that it is going to shock America to the core. [Let me explain further.

So says an article* at TheEconomicCollapseBlog.com which Lorimer Wilson, editor of munKNEE.com (It’s all about Money!), has further edited ([  ]), abridged (…) and reformatted below  for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.  The article goes on to say:

We have lived so far above our means for so long that none of us really has any concept of what “normal” is like anymore.  The United States has enjoyed the greatest party in the history of the world, but now this decades-old party is ending and the bills are coming due.  Our current system is headed for an inevitable collapse.  There is no way of getting around it – a horrific economic collapse is coming [and] it is going to change the world. You better get ready.

It was Dick Cheney who famously said that “deficits don’t matter”.  Well, try telling that to the nation of Greece right about now.  The horror that Greece is just beginning to experience is a preview of what is going to happen to us as well.  Only when it happens to us it is going to be so much worse, because when we go down we are going to bring the entire global financial system down with us.

What we have done to future generations is beyond sickening.  Previous generations entrusted to us the greatest economic machine in the history of the world and we destroyed it.  Now we are leaving to our children and our grandchildren an economic future that has been totally wiped out and a national debt of more than 14 trillion dollars that we expect them to repay.

In Washington D.C. these days, there is a lot of talk about the debt ceiling but whatever the politicians do, it is not going to solve our debt problems.  If the debt ceiling does not get raised, we move the financial pain into the present.  World financial markets would crash and that would be followed by a devastating economic nightmare. If we do raise the debt ceiling, that will “kick the can down the road” a little bit farther.  However, world financial markets will still crash eventually and our eventual economic nightmare will be even worse.

Who in the world is currently reading this article along with you? Click here to find out.

Can’t we just “inflate our way” out of debt? No, unfortunately things are just not that easy.  If we try to inflate our way out of debt, interest rates will likely rise just as quickly as inflation does, and that would be absolutely catastrophic. Before interest rates even reached 20% we would hit a point where it would take every single dollar taken in by the federal government just to pay the interest on the national debt. Meanwhile, rapidly rising inflation would devastate the value of all of your bank accounts and every other single financial asset that you own. So no, inflating our way out of debt is not going to work.

At the moment, the U.S. federal government is able to borrow gigantic quantities of money at super low interest rates – but when that changes, all hell is going to be unleashed.

[Below is an abbreviated list of 25] statistics about the national debt that are almost too crazy to believe:

  1. As of June 20th, the U.S. national debt was $14,344,524,186,068.19 [see here for today’s number] yet 30 years ago the U.S. national debt was approximately 14 times smaller.
  2. It took from the presidency of George Washington to the presidency of Ronald Reagan for the U.S. government to accumulate one trillion dollars of national debt yet since then we have added more than 13 trillion dollars of additional debt.
  3. During Barack Obama’s first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.
  4. The U.S. national debt is currently rising by well over 4 billion dollars every single day with the U.S. government borrowing over 2 million more dollars every single minute.
  5. The combined debt of the major GSEs (Fannie Mae, Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011 [which,] thanks to George W. Bush, Barack Obama and the U.S. Congress, U.S. taxpayers are guaranteeing.  This is debt that is not even included in the $14.3 trillion national debt figure.
  6. Interest on the national debt and mandatory spending on entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019.
  7. Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.
  8. The U.S. national debt has increased in size for 54 years in a row.
  9. If you divide up the national debt equally among all U.S. households, each one owes over $125,000 and it has gone up by $29,660 per household since Barack Obama signed the economic stimulus law.
  10. The U.S. government spent over 413 billion dollars on interest on the national debt during fiscal 2010 and it is projected that by the year 2021, interest payments on the national debt will amount to $1.1 trillion dollars a year.
  11. U.S. national debt will rise to about 400 percent of GDP by the year 2050.
  12. Some experts estimate that the unfunded liabilities of the U.S. government for programs such as Social Security and Medicare are in the neighborhood of 60 trillion dollars.  Other experts claim that the total for federal government unfunded liabilities could be well over $100 trillion but what almost everyone agrees on is that it is going to be virtually impossible to even come close to meeting all of those obligations.
  13. Approximately one out of every four dollars that the U.S. government borrows goes to pay the interest on the national debt.
  14. The U.S. government currently has to borrow approximately 41 cents of every single dollar that it spends.
  15. If interest rates were to move back to 5% (2006 levels) it would increase annual U.S. interest expense by almost $700 billion annually. This is against current U.S. government tax revenues of $2.228 trillion (CBO FY 2011 forecast).
  16. If the U.S. government was forced to use GAAP accounting principles (like all publicly-traded corporations must), the U.S. government budget deficit would be somewhere in the neighborhood of $4 trillion to $5 trillion each and every year.
  17. Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year.  That was not supposed to happen until 50 years from now.
  18. In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for 18.4% of all income.
  19. U.S. households are now actually receiving more money from the U.S. government than they are paying to the government in taxes.
  20. 59 percent of all Americans now receive money from the federal government in one form or another.
  21. Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.
  22. Back in 1950, each retiree’s Social Security benefit was paid for by approximately 16 workers.  Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers.  By 2025 it is projected that there will be approximately two workers for each retiree.
  23. Back in the 1950s, corporate taxes accounted for about 30 percent of all federal revenue.  In 2009, corporate taxes accounted for just 6.6 percent
  24. The total compensation that the federal government workforce earned last year came to a grand total of approximately 447 billion dollars.
  25. The level of government waste in this country is absolutely mind blowing. For example, the Department of Health and Human Services has just announced a brand new $500 million program that will, among other things, seek to solve the problem of 5-year-old children that “can’t sit still” in a kindergarten classroom. In the past, the U.S. government has spent $2.6 million dollars to study the drinking habits of Chinese prostitutes and $400,000 dollars to pay researchers to cruise bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk.

The national debt is a problem that should have been handled 20 or 30 years ago but it wasn’t so now what we have to look forward to is a very bleak future.  Even if we totally scrapped our current monetary system and repudiated the debt, the transition would be “rocky” at best and we would not enjoy anything close to the standard of living that we are enjoying today.

Unfortunately, [however,] the vast majority of our politicians in Washington D.C. would never even dream of abandoning the current system [even though they] are now admitting that our current state of affairs is “unsustainable”.  They just don’t have the guts to do anything about it.

[As such,] this current system is headed for an inevitable collapse.  There is no way of getting around it – a horrific economic collapse is coming [and] it is going to change the world. You better get ready.

National Debt

Related Articles:

  1. “Financial Repression” May Soon Become Our Worst Nightmare! Here’s Why
  2. Get Ready: Economic Hell is Coming!
  3. How to Restore Fiscal Sanity to the USA
  4. We Have Fallen Head First Into An Economic Abyss! Here’s Why
  5. Americans Are Hurting And It’s Going To Get Worse – Here’s Why
  6. The U.S. is Headed Towards Self-inflicted Disaster: Here’s Why
  7. IMF: Major Changes Required to Close U.S. Fiscal Imbalance – Here’s Why, What and How
  8. America: The Party is Over! Here’s Why
  9. Weiss: A Financial Apocalypse Awaits America!
  10. Is the Bankruptcy of the US and the UK Unavoidable?
  11. America’s Political Process Guarantees Another Financial Crisis!
  12. Washington Faces Possible Armageddon Unlike Any Since Civil War
  13. Americans Have Thrown in the Towel as They Await “The Big Splatter”
  14. Remedies to Fiscal Gap Guarantee Hyperinflation!
  15. Warning Signs Suggest U.S. Headed for a Complete Societal Collapse!
  16. Let’s Get Real: The U.S. is Bankrupt and the Consequences Will Be Dire!
  17. U.S. Between a Rock and a Hard Place and Its Options Are – At Best – Dire!
  18. Will the Fed Engineer a Stock Market Crash to Flood the Bond Market With Much Needed Demand?

Editor’s Note:

  • The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
  • Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.

Related Posts:

%d bloggers like this: