Monday, April 24, 2017

Don't Worry, Be Happy: The Bursting Of The Government's $20 Trillion+ Debt Bubble Will Make Today's Worries So Trivial

If you are still freaking out that Donald Trump is President, relax, don’t worry, be happy.
If you are still fuming because of the damage the Obama Presidency did to this country, relax, don’t worry, be happy.
If you are still upset because Betsy DeVos is now the Secretary of Education, relax, don’t worry, be happy.
If you are fretting that Federal taxpayer funding of NPR and NEA might get cut, relax, don’t worry, be happy.
You might was well be happy now because as the Federal government debt load rapidly approaches $20 TRILLION, any worries you have today about the Federal government and how it affects your lives will become overwhelmingly trivial once the national debt bubble bursts.
NPR funding? That is a gnat on a gnat’s ass, that sucker gets wiped out in the first shock wave when the debt bubble bursts.
Department of Education and Betsy DeVos? That priority is so far down the list that the entire Department of Education will be swept away along with Ms. DeVos.
Obama’s destructive Presidency? Too late to worry now, that ship sailed eight years ago before his Presidency almost doubled the national debt amount incurred by EVERY previous President COMBINED.
Trump’s Presidency? Since the Constitution requires that all government debt be paid back before any government operating expenses, his hands are tied in what can be paid for and funded when the debt bubble bursts.
Yes, forget about your worries today, they will be washed away when the debt bubble bursts because many of you are going to have to worry about how you are going to survive when your Social Security check gets slashed by 20 - 30%.
Yes, forget about your worries today, they will be washed away when the debt bubble bursts and your Medicare payments double or triple every month.
Yes, forget about your worries today, they will be washed away when you realize that you and every one of your kids and grandkids are currently on the hook for over $61,000 of that $20 TRILLION national debt, a figure that rapidly grows every day.
How much is a TRILLION dollars? Consider this simple math reality: if you had spent a MILLION dollars a DAY since the day Jesus Christ was born, you still would not have spent a TRILLION dollars. And we are looking at more than twenty times that amount of debt. A million dollars a DAY.
Oh, and before my liberal friends and family give me their standard knee jerk reaction on matters like this, namely, “tax the rich more!”, I got a surprise for you: that is an extremely ignorant and invalid suggestion. Trust me, I have done the math, no matter how much you tax the rich, your inane remedy comes nowhere close to resolving this $20 TRILLION issue. And the Congressional Budget Office also did the math, agreeing with me, and concluding in their recent long term view of the economy that this is solely a Federal government overspending issue that cannot be resolved by over taxing any American.
But did we at least get anything for the $20 TRILLION debt hole we are now in? Apparently not since our roads, bridges, and dams are still falling apart, our public education processes still radically under educate our kids, much of our armed forces are still not combat ready, and the major social programs of the Federal government (Social Security, Medicare, Medicaid) are still hurtling towards fiscal insolvency.
The Obama administration spent about $26 TRILLION over its eight year reign, incurring well over $9 TRILLION in debt in the process and left us worse off than when it began. It took us from a historical and manageable debt to GDP ratio of about 60% to a ratio of over 100%, putting us in the elite company of distressed economies like Greece. These are the facts, nothing you can say changes these facts no matter how much you idolized Obama.
United States Government Debt to GDP

So when you sit down to the dinner table tonight and look at your kids eating, or as you watch TV tonight and look at your grandkids’ pictures on your mantle, remember that we have saddled them with a debt load that they and their kids will be paying back for generations to come. And for that load we have left them a country and government in a very sad state of affairs.
So relax, don’t worry, be happy because far worse is on the way than the trivial political stuff you are worried about today.
P.S. - That $20 TRILLION is the amount of Federal government debt incurred already. It does not include the tens of TRILLIONS of dollars in unfunded future Social Security, Medicare, and other Federal government liabilities (currently sitting at just over $85 TRILLION) on top of the $20 TRILLION.
P.S. That $20 TRILLION also does not include the $3.2 TRILLION government debt at the state and local government levels.
Check out the Debt Clock (if you dare) insanity at:

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