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.
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.