From: The Common Sense Show
There are three numbers that every American should be paying attention to and they are (1) the national deficit, (2) the unfunded liabilities debt, and (3) the derivatives/futures debt. When any reasonable person looks at these three sets of numbse Shers and related statistics, there can only be one conclusion, which I will present at the end of this analysis.
To conduct this analysis, I am going to use some commonly agreed upon figures. The budget deficit is $17 trillion dollars, unfunded (partially or otherwise) mandated social programs constitutes another $220 trillion dollars and the credit swap derivatives total between $1 quadrillion dollars to $1.5 quadrillion dollars. In this analysis, I will use the very conservative $1 quadrillion dollar figure. These figures are not in dispute and therefore provide me with the basis to perform an analysis of what our collective economic futures hold.
America takes in $2 trillion dollars per year in tax revenue. The United States has a $17 trillion dollar deficit. How long would it take to pay this debt back? If one can do third grade math, the answer is very simple. On the surface, someone reading this would say we could pay this debt off by in 8.5 years. The correct answer is simpler, we can never pay this debt back. This is the ultimate catch-22. To begin to pay off the debt, we would have to cancel all government services. In this case, you would have no government, only anarchy.
Even if the government could donate $1 trillion dollars of its revenue source to paying down the debt, the government deficit would still be increasing at a ratio of 8.5 to 1 even if we were to reduce the governmental operating expenses by a whopping 50%. Read the rest....
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