Tuesday, August 16, 2011

The US National Debt - An Economic Time Bomb

The United States National Debt is approaching $15 trillion; that is $15,000 billion, a real economic time bomb.   Ever wonder why the US Dollar continues to fall in value compared to other currencies and it cost more money to buy basic staples.   The answer is simple.   The Federal Reserve, over the years, has printed $6 trillion to fund the National Debt because there were not enough investors interested in buying our debt.  State and local government and other investors hold about $3.8 trillion of our debt.  China holds $1.1 trillion of our debt.  Japan hold about $1 trillion of our debt.  And, other assorted foreign countries hold the remaining $2.4 trillion of our National Debt.  All Americans should be very frightened by these numbers because there is no plan, repeat no plan, to get this under control.   To make matters worse, the Federal Reserve in now talking about implementing QE3 to print even more money and pump it into the system, which will cause the collapse of the US dollar. 

The recent National Debt Ceiling deal will give Socialist President Obama another $2.4 trillion that he most certainly will add to the National Debt in the next 18 months.  This will happen because Obama has increased federal spending by 25% in just three years to support his PEEP's; the 50% of Americans that pay no income taxes at all, those on the dole, public employees feeding at the trough, illegal aliens and favored companies that donate to Socialist campaigns.   So in the next 18 months, even if the Congress cuts $2 trillion in spending, which by the way is not a real cut because the federal government will grow anyway, the National Debt will grow to $16.7 trillion.   Obama will have added an unprecedented $6.4 trillion to the National Debt during his first term in office.   Obama is bankrupting our nation.  The most President George W Bush ever added to the National Debt, in any year, was $450 billion; chump change by comparison, though still too much.

So while Socialist President Obama is off on his Magic Misery Bus Tour in the Mid West in that $2 million bus version of Air Force One, billions of deficit spending are happening every day.   There is no plan in sight to make this recent $2.4 trillion increase in the Debt Ceiling the last one in our country's history.  The US National Debt is now equal to 100% of our annual GDP.   To put this in perspective, Greece's debt is at 139% of GDP, Italy is at 120% of GDP, Ireland is at 102% of GDP.   These countries are economic basket cases and we are headed in the same direction. 

WE THE PEOPLE must implement an INTERVENTION as we take back our country in 2012 and 2014 to prevent the bankruptcy of our nation.   Politicians of both political parties are hooked on deficit spending, like junkies hooked on Crack.  Our elected respresentatives have acted so irresponsibly, over the years, that they really can't be trusted to protect the interests of the American people.   That is why we must amend the Constitution to include a Balanced Budget Amendement to stop the fiscal insanity.  Socialists in particular use deficit spending to take care of their PEEP's to win elections because otherwise their ideology of tax and spend, big, intrusive government has no legitimacy.   Socialism in fact has only led to misery, poverty, a loss of freedom and eventual collapse where ever in the world it has been practiced.   

We have to make Obama a one term President.   Obama is Jimmy Carter II.   We have seen this story before.   The Obama Administration has declared war on the Makers in society as Obamanistas pursue redistribution of income in the name of "social justice".   The private sector is sitting on $2 trillion in cash that will not be invested in the United States until the Obama nightmare is over.  We need to elect a Conservative, pro-growth President that supports free market capitalism, limited government, a balanced budget, term limits, lower taxes and less regulation, real education, energy, health care and entitlement reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values that are the foundation of our nation.   This is the platform supported by the majority of the American people and the only way to restore economic growth and job creation in our country. 

Most important, we must elect a Conservative President, who is not at war with American Business and the Makers in our nation that pay all the bills.   We must take back our country in 2012 and 2014 by sweeping these Socialists, including Obama, out of office.   We have to clean house to get our country back our track.   We can do it.  We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   We have to stop the deficit spending and pay off our National Debt.  To do otherwise is to become a second rate nation.   WE THE PEOPLE can't let that happen. 

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