Five Lies About America’s New $18 Trillion Debt Level

US-18-trillion-debt

There’s so much misinformation and propaganda about this; let’s examine some of the biggest lies out there about the US debt:

1) “They can get it under control.”

What a massive lie. Politicians have been saying for decades that they’re going to cut spending and get the debt under control.

FACT: The last time the US debt actually decreased from one fiscal year to the next was back in 1957 during the EISENHOWER administration.

FACT: For the last several years, the US government has been spending roughly 90% of its ENTIRE tax revenue just to pay for mandatory entitlement programs and interest on the debt.

This leaves almost nothing for practically everything else we think of as government.

(Read the rest of the story here…)

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2 thoughts on “Five Lies About America’s New $18 Trillion Debt Level”

  1. The only way to get debt under control is to quit spending money.
    This government is like a heroin addict in that it cannot give up it’s addiction to spending more than they bring in.
    That was okay after World War decimated Europe. That was okay when we sat on top of the financial world.
    What has to happen is that there has to be a line item veto over every expense. That line item veto is going to be very unpopular with everyone.
    That includes anything at all that the government is addicted to spending that they do not have funds to spend because they have run out of money.
    The only way that is going to happen is the day that the currency goes under and there is no more money to spend. Don’t see that happening in the near future.
    Yesterday, I counted cars on a public road, one of 5 that is heavily congested in this little city. There is enough money in all those cars to pay off the national debt. I refer to every car in this country. Most of those cars are on the road with borrowed money. Or they are leased. Which is even worse.
    I could be wrong. For instance, how many TVs are in an average household right now.
    How many people are dependent on moneys given them by the U.S. Government?
    The problem is the government acts as a giant flywheel generating money they do not have to pay for things they cannot afford to do.
    So when the SHTF, what happens next?
    Because what I see out there is a huge problem with all those people that depend on one thing only. That is a government check once a month whether it is unemployment, welfare, food stamps, pensions, Social Security, you name it. There are an incredible number of people invested in keeping the government going as it is, paying out all that money every month.
    There is a saying called “the Tiger by the Tail.” It refers to a person that is swinging a vicious predatory tiger with claws by its tail and the swinging has to keep going or it will turn around and kill that person.
    Well, that is where the government is at today. They have a debt Tiger by the Tail and as soon as they quit spinning that tiger then the entire thing will turn on them big time.
    So no matter what it costs, the government will seek a way to keep that Tiger spinning.

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