The nation is screwed, and I mean royally screwed.
The government is so far into debt, there is no way future generations can pay off the debt. As of the posting of this article the US Government is $16.4 trillion in debt. With credit card debt and student loan debt, we owe more like $58 trillion.
It is time to have another random thoughts article.
National Debt – I figured it was time to make anther article when I read this opinion piece at the Wall Street Journal. According to that article, our national debt already exceeds $86.8 trillion, or 550% of our Gross Domestic Product (GDP).
According to the authors of that article, the true amount owed to the Federal Reserve is hidden from public view.
In other words, the government is treating the people like a bunch of mushrooms, we are being kept in the dark and fed crap.
I do not know for a fact that the national debt is anywhere close to the $86 trillion range like the article claims. Even at $16 trillion we are in deep trouble.
What is sad, the nation is bankrupt, and there are people looking for a government handout. There is no money, but people want more free stuff.
Well, it seems Mitt Romney stuck his foot in his mouth by saying Obama supporters see themselves as victims, and that Obama appeals to voters who do not pay taxes.
In other words, the people who vote for Obama are lower class and live off welfare.
Yep, I pretty much agree.
Its like the lady during the 2008 election that said if Obama is elected, she will not have to worry about her mortgage.
Its just another way of saying the government is going to take care of you.
Out of all of the people who voted for Obama, how many of them are low income? But then again, how many low income people vote democrat? Probably a bunch of them.
I find it comical that Obama was elected to start with, and that anyone would vote for him during the re-election. But then again, there are a lot of people out there that like living off the system. Vote for Obama, and we will see the national debt skyrocket. As long as the poor are getting their food stamps and public housing, who cares how much debt we are in.
With the US debt deal passed, we have been pushed to the edge of no return. The US taxpayer has been beat down, the chains have been shackled and the saddle is about to be put on us. From there, we will be nothing more then debt slaves. So what caused this? Elected politicians acting like a bunch of teenage girls with their daddies credit card, thats what.
Our elected officials have spent, and spent, and spent, and spent, and spent until we are on the edge of bankruptcy. Instead of sending welfare people to college, they are sent food stamps, public housing, and welfare checks. We have built a nation of people who think they are “entitled” to something they did not work for.
Now that the national debt equals our gross domestic product, the US has been pushed to the edge of no return. We have no hope of ever paying our debt off. Over the next few years I foresee the US raising taxes on the middle class, and “maybe” the lower upper class. While big companies still do not pay their fair share and continue to move to china.
China is no longer a peasant nation, they have built an empire by selling cheap products to the US. As long as the US stays in debt, and china continues to buy that debt, there is no hope of return.