25,375 Is More Than A Number
According to the White Houses’ own numbers by the year 2022 the US Sovereign Debt is going to reach $25,375 Billion! That’s $25.375 Trillion.
Remember that these numbers do NOT take into account all the unfunded liabilities of Medicare and Social Security. When you calculate those numbers into the equation the real debt is sitting at $222 Trillion (and NO there are not any decimal point in there it really is Two Hundred and Twenty Two Trillion). Oh, and that $222 Trillion is a present value. What that means is that the US would have to have $222 Trillion to invest today at 5% growth for 75 years to meet it’s obligations…and that investment doesn’t exist.
As we are fastly approaching yet another round of last minute debates about the debt ceiling and the scrambling to get something done, we now hear calls to just remove the debt ceiling from Timoth Geithner and Ben Bernake. This is just assine. We have a problem that’s about to get compounding and their solution is let’s remove any barrier to prevent increasing the debt…let’s have unfettered spending ability.
Now the ironic thing is that the US Congress which is currently controlled by “control spending” Republicans do have the ability to prevent the national debt to increase. They could essentially prevent us from reaching the ceiling altogether. How? ALL, spending begins in the House of Representatives. ALL!
The Republican led US House controls how much money is appropriated. They are culpable in this fiasco; yet as the next fiscal cliff approaches we will see them appear in front of the cameras and speak with eloquence about needing to control spending and reduce the deficits. All the while, they have the power to do just that and they don’t! They could cut spending and they don’t. They could reduce the deficit and they don’t. They could decrease the size and power of government and they don’t. Republicans control the purse strings that fund the power of DC. When they have the power to decrease the power of DC what do they do? They feed the beast!
We argue about raising the debt ceiling when we can prevent reaching the limit in the first place. The Republicans don’t need President Obama and the Democrats to propose spending cuts. The Republicans could simply cut spending.
Hold them all accountable! Don’t play partisan politics and simply point the finger at the “other” party. Hold both sides of the isle accountable! They continue to plunder the wealth of Americans through the debt via inflation. They continue to finance our future. They continue to assualt the prosperity of the American people. Both sides! Enough is enough! Demand more…demand better!
