A war here, a war there, a stumbling “leader”, a shooting, union strikes…. with all the distractions, it is not surprising that this slips under the radar:
“So clearly not sustainable,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told Insider. “The way one evaluates that is: if your debt is growing faster than your economy, which ours is, and if your interest payments are going faster than — take any indication, whether it’s your economy, income, a variety of things — those are all huge warning signs. All of them are going off right now.”
Some basic points from a different article, found here:
- US debt at an all-time high, now $33,000,000,000,000. ($33 trillion)
- Interest on debt as share of GDP: 1%. Expected to rise to 6.7% by 2053. [Catastrophic]
- Interest on debt will cost more than the Social Security program by 2051.
- By 2029, Debt will exceed GDP by 7%
- “At today’s level, interest payments already outpace federal spending on youth education, and in four years, it will top defense spending.”
Consider that last point. Let it rattle around a bit. Think how much money that is, and how much that money could benefit our own people instead of lining the pockets of others. We could provide health care to all citizens. We could secure own own borders. We could allow hard working Americans to keep more of their own money. The opportunities domestically are endless. But instead, we pay interest on our ever increasing debt.
So, who owns us? Personally, I thought the number 1 owner of US debt would be China. I was wrong, they’re number 2. Would you believe… Japan?
[Random commentary: note number six, the Cayman Islands. Hmmm, I’m calling shenanigans….]
Of course, it is not enough to just complain. Anyone can do that. Far better to identify the problem and offer solutions. As with my previous post, I would like to call your attention to what the American Nazi Party has to say about debt and the economy. This partial quote is taken directly from their website, found here:
An Honest Economy:
We demand the creation of an honest, self-sufficient, debt-free economy based solely on the productive capacity of the Aryan worker, which will guarantee conditions of full employment and price stability….American Nazi Party, What We Stand For, An Honest Economy
We believe that the proper function of an economy is to serve the economic needs of the people, not to make profits for big bankers and huge multinational corporations…
We believe further, that money is properly a medium of exchange and store of value, not a commodity like bread or steel, and that therefore money and credit should not be issued for profit, but to serve the legitimate needs of the people without interest.
Lastly, consider our $33 trillion dollar debt in the context of the 14 words:
“We must secure the existence of our people and a future for White children.”The Fourteen Words
Clearly, a national debt so large that it mortgages the future prosperity and opportunities of our children runs contrary to everything a true National Socialist believes. Our current path is criminal, intolerable, and unsustainable.