Why America Is Bankrupt and nobody talks about it. Trends and statistics don’t lie when honest people report the facts. You usually don’t see the true facts on the main stream news. The main stream news is prohibited from reporting complete facts or certain topics. Sometimes reporters will give the people a warning in an round about way, but most people are to dumb to recognize this and, just believe the trash the main stream news feeds the sheep, meaning you.
When certain people speak you should take notice. In 2010 former Fed chairman Alan Greenspan said “The Federal government is saddled with commitments for the next three decades (30 Years) that will be unable to meet in real terms” What he is saying is they cant pay.
The battle for big government VS large government was waged a long time ago and large government won. Until recently the Democrats have basically wrote the laws and controlled the country for over 50 years. The broken promises and corruption has become noticeable for everyone to see. The politicians continue to deceive the American people. The battle raging today is big government VS small government. Greece has 1 in 20 workers working for the government the United states has 1 in 18 people working in government. We all see what happened to Greece.
Politicians have given government union workers tremendous benefits that only show 4 decades later as in retirement. We seen the battle fought in Wisconsin because of politician promises of the past. We see cities going bankrupt in the news but, nobody says why. We have no one to blame but, ourselves for letting this happen. We let our politicians make back room deals and spend our future away. We voted in the same people who repeat the same deceit.
On the federal scale we have mandatory spending, such as social security, medicare and so on. These programs are hands off. These programs continue to expand and cost more every year. As poverty increases more people become eligible for food stamps and the program becomes mandatory and becomes a obligation. The government is promoting Food Stamp Parties. Your government spent 3 million tax dollars promoting people to use food stamps.
According to the (GAO) Government accountability office roughly 93 cents of every dollar of federal revenue will be spent on the major entitlement programs and net interest costs by 2020. By 2030, net interest payments on the federal governments accumulating federal debt exceed 8% of GDP- making it the largest single expenditure in the federal budget. Now you know why the Senate hasn’t made a budget in 3 years.
Democrat Reality check- In 1990 Washington spent $22,027 per American household (adjusted for inflation) In 2010 we’ll spend $30,543, an increase of 39% in just two decades. Are you getting 39% more for your money? Some of that increased spending went to people to have Free government cell phone for a cost of 1.8 billion tax dollars.Now you know why the Tea Party was formed. The Democrats are purposely making a dependent voting block to keep in office. The house of cards will collapse and be declared bankrupt. The first thing Democrats do is sign up illegal aliens call them legal and offer them food stamps and, other programs. They remind the immigrant we did this for you, remember to vote for us. The poor immigrant doesn’t realize he is helping make a poorer country from where they came from.
According to the CBO the interest on our debt will double in the next ten years, reaching 20% of revenue in 2020. That report assumes that interest rates wont rise. Where does this interest payment go? To foreign investors who live outside of the USA. We are distributing wealth to other countries just as Obama wants. The deeper debt means higher interest rates later. Your money is being stolen without you even knowing it. Soon we will have hyperinflation, kiss your money good bye. Currently, since the federal reserve was created in 1913 which is a private banking cartel, they have deflated the dollar to be worth around 8 cents.
Imagine if interest rates were to go up. Interest rates do change and, its controlled by the federal reserve. Interest rates in the 1960′s and 1970′s were on average 7%. In 1980 interest rates were 21%. Could you even imagine today what would happen if interest rates went up to 7% let alone 21%. This is what our founding fathers warned about, foreign banks controlling the money of the United States as in federal reserve. This private company controls everything in the United States and, congress does nothing.
There are two ways that politicians and others can quote out interest payments: Gross or Net. In 2009 for example we paid $383 billion in interest on our debt. this money went to China and the federal reserve mostly. Some of that money was actually paid to other agencies as interest on borrowing from places like the Social security Trust Fund. And some of that amount was also offset by any federal reserve profits (which hit a record $45 billion in 2009) The next result was an actual cash payment to investors of $187 billion. It is obvious the USA is bankrupt.
We cant grow are way out of this mess. We could have double digit growth for decades and still not grow out of this planned problem. We cant tax are way out either. The end result is total collapse and, many people know this but will never say it. If they do, they will be laughed at and called names by the media and, most Democrats. 42 cents is borrowed by the federal government on every dollar for spending. Face it we are bankrupt.
The CBO’s newest report states Obama care will increase the deficit. Every program the federal government has made is bankrupt. Look in the mirror, your government bankrupted each and every one of you.