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.

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:

http://www.usdebtclock.org/

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:

www.loathemygovernment.com

It is also available online at Amazon and Barnes and Noble. Please pass our message of freedom onward. Let your friends and family know about our websites and blogs, ask your library to carry the book, and respect freedom for both yourselves and others everyday.

Please visit the following sites for freedom:

http://www.cato.org
http://www.bankruptingamerica.org
http://www.conventionofstates.com
http://www.youtube.com/watch?v=08j0sYUOb5w

February, 2013 Political Class Insanity, Part 3 - Google's Tax Dodge, Getting Rich In D.C., Food Stamp Fraud In Ohio, And More

This is the third post for the political class insanity of February, 2013. Over the past two days we have seen numerous charges and allegations of political bribery and corruption, political cronyism, a politician wanting to use government resources and operations to persecute those citizens with a different opinion than her, government officials and politicians that cannot develop and live by a simple budget, and other acts of lunacy. Fortunately, the insanity ends with the following:

1) We have a national debt of over $16 TRILLION. According to a January 17, 2013 Associated Press report, there are hundreds and hundreds of deficient and dangerously flawed levees across the country that are at risk of collapsing at any minute and endangering the lives and properties of millions of Americans in at least 37 states. Hurricane Sandy victims are still waiting for relief. Social Security, Medicare, and Medicaid are rapidly approaching insolvency.

Despite all of these dire financial situations, what did the Federal government recently spend $100,000 on: “The National Endowment for the Arts is funding the Spelman College of Atlanta, Ga.’s multi-episode game called “HERadventure.” In the grant announcement made last year, the NEA said the story “focuses on a young female superhero sent to Earth to save her own planet from devastation because of climate changes caused by social issues impacting women and girls.”

Now, $100,000 is not going to fix any of the problems listed above. However, before you can start saving millions of dollars in wasted spending, you have to start saving thousands. And before you can start saving billions, you have to start saving millions, etc. Wasting $100,000 on an inane game would have been a great start on the road to fixing what ails this country in a meaningful way as opposed to idiotic, wasteful, useless programs like this.

2) In late December, 2012, the Wall Street Journal reported that General Motors workers will each receive an annual bonus of between $5,500 and $7,000 a piece. This past week it was reported that the Treasury Department is about to unload the last of the millions of GM shares it still owns. If that sale of shares comes to past, the American taxpayer would stand to lose about $12 billion on the direct bailout of General Motors.

Such a deal, the American taxpayer theoretically contributes just over $100 per household to a bankrupt company that in turn gives bonuses to its workers of up to $7,000. Doesn’t seem fair, does it? And this is just the result of the direct GM bailout. The forgiving of back taxes and the failed bailouts of other former GM corporate components is not included in this scam.

3) The Dayton Daily news reported in late December, 2012 that A Federal judge had sentenced a local resident, Al-Idu Al-Gaheem to one year and one day in prison for his leadership in a scheme that bilked $3.8 million from the Federal food stamp program.

Al-Gaheem had faced as many as four years in prison after he pleaded guilty in August to charges of conspiracy to commit money laundering and conspiracy to commit wire fraud, food stamp trafficking and structuring transactions to avoid reporting requirements. The scheme involved Al-Gaheem and his co-conspirators illegally paying customers 50 cents in cash for every $1 in food stamp benefits they redeemed.

The $3.8 million they stole from the American taxpayer was allegedly spent on themselves and their businesses. Although the court order requires them to pay back the $3.8 million, the article concludes that this will likely never happen since the money has all been spent.

You really have to be kidding me, only one year in jail for stealing almost $4 million? Doesn’t seem fair or just, maybe that is the reason that Medicare, Social Security, and Medicaid lose over $200 billion a year to waste and criminal fraud. The penalties for getting caught are just not steep enough to scare off the criminals.

4) As you begin to get your tax documentation together in order to prepare your Federal income tax return, consider a short article that was published in the December 21, 2012 issue of The Week magazine. The article, originally from Bloomberg, reported that Google avoided paying about $2 billion in taxes in 2011 by transferring $9.8 billion in revenue to a Bermuda holding company.

The amount transferred to Bermuda, where there is no income tax, represents about 80% of Google’s pretax profits. Thus, while many American small business owners saw their taxes go up when the fiscal cliff deal was signed, apparently Google can continue to shield billions in tax liabilities offshore.

I believe that everyone’s taxes on average should be reduced, given the trillions of dollars the Federal government has wasted over the years. However, for someone that is always yapping about paying one’s fair share of taxes, Obama and the Democrats really seem to be taking their time dealing with atrocities like this while the successful local pizzeria owner might have just seen his tax burden go up.

5) Let’s stay with the income tax theme. How high is your household income that you will be taxes on in April?

According to the AARP Bulletin magazine from December, the estimated median income of each state and the District Of Columbia ranges from a low of $36,919 in Mississippi to a high, almost 100% higher, of $70,004 in Maryland. (Source: U.S. Census Bureau). Since the average household income across the entire country is just below $50,000, we also see that Maryland residents make about 40% more than the average U.S. household.

But who lives in Maryland? A large portion of those high income households are high paying jobs that depend on the Federal government and your tax dollars. In fact, the fourth highest median household income are those households living in the District Of Columbia, $63,124, about 26% higher than the average U.S. Household.

As always, the political class, and the lobbyists, contractors, and industries that depend on extensive large Federal spending, are certainly taking care of themselves financially. In fact, we have previously reported that seven of the top ten richest counties in the country are in the greater D.C. area.

Thus, another example of the evolving elitist ruling class in this country, a class that pays themselves better than the people that make their salaries possible, a class that needs private bathrooms worth over $200,000 a class that readily excepts bribes while in office, etc. Insanity and insults, a monthly affair that never ends.

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:

www.loathemygovernment.com

It is also available online at Amazon and Barnes and Noble. Please pass our message of freedom onward. Let your friends and family know about our websites and blogs, ask your library to carry the book, and respect freedom for both yourselves and others everyday.

Please visit the following sites for freedom:

http://www.reason.com/
http://www.cato.org/
http://www.robertringer.com/
http://realpolichick.blogspot.com
http://www.youtube.com/watch?v=08j0sYUOb5w