Here’s some sobering facts that I wish everyone understood: These numbers are not difficult to comprehend. Any eighth grader, at least those who graduated before 1960 can understand!
If the Federal Government used half of the total income tax revenues to pay down the debt, it would take 32 years at the present interest rate ( almost zero) and, at 4%, 60 to 75 years, so obviously, the $16+ T debt isn’t going to be paid under any normal circumstances. It will however have to be dealt with and paid! Under the present, rather limited, philosophy in Bamaville, there’s only one possible way this can be done.
You and I know what this means- Massive inflation! This would be inflation such as Germany experienced after WW1. Salaries and compensation never can and never have kept up with inflation- especially not this kind. It won’t be a question of just paying high prices for bread or milk because there won’t be any stores selling any of that.. there can’t be.!
There will be ( has to be) food riots and massive civil unrest, demonstrations along with the inevitable starvation, death, chaos etc. For the mooches who voted for bama, this will tickle me a lot!
Fuel will be unobtainable, workers and drivers unpaid- so no commercial trucks will be making deliveries. The farms will shut down along with the stores for the same reasons. The only vehicles’ on the roads will be BAMA trucks delivering Velveeta cheese to his congregation (the mooches). What we have seen in parts of NJ and Staten Island after Sandy are examples of the nationwide devastation that will follow the collapse of the dollar and the economy. Dependence on the 'wired society' has significant weaknesses!
The facts are there for all to see. Under a Romney administration we might have had a chance to bring some order to government, slow down the march to the "real" cliff. With a bama however, things will and must get worse and accelerate… It’s amazing to me that the libs can’t see the same facts that we do.. What, I wonder, are they smoking? Follows, some numbers representing Federal revenues from all sources. Read it carefully…..
As you can see, the figures indicate total revenues to the Fed gov of $2.46T in 2011. If they took half of this and used it to pay down the $16.2T debt it would take them 17 years with no more borrowing and at the present almost at zero rate of interest… But, at the current rate of spending, by month 7 all the money is gone and for 5 months, the idiots have to borrow to keep their giant Ponzi game alive.
So, when you borrow as they do, .43 cents on every dollar, or $1.2 trillion over the 5 months, constantly adding to the debt, you can see that the actual time to pay off the debt, using half of the federal revenues, (which of course, will never happen), is closer to 32 years- if not more. And, without massive cuts in the entitlement budget (which bama can’t and won’t do) the debt can only be paid by printing increasingly worthless dollars.… These are inescapable facts that anyone with accounting 101 can verify.
Below is where the bucks go- this is, more or less, where our money went in 2011.
Total spending is $3.8 trillion so its easy to see that, as things are (2011), the feds, to keep the massive give away party going, borrowed $1.4 Trillion more than they took in. This is 8th grade arithmetic. Not too difficult even for bama-dummies. Shouldn’t be…but there you are… J
As they only take in $1.16 Trillion in income tax, the Feds would have to double tax income to balance their books. (this is just not gonna happen !) and, even if it did, it's highly doubtful that a penny of that money would ever be used to pay down the debt! If taxes are doubled on the American people, especially those considered wealthy, the economy will fall into an all-out depression, collapse and fail on every level! A doomsday scenario!
This is the stupid mistake the bankrupt Europeans are making when they keep raising tax rates in the midst of a depression... National economies are like the proverbial goose that lays a golden egg. If the feds take one egg she keeps laying but when the greedy, money grubbing, swine reach in and take all the eggs the goose loses interest and they get no eggs. Squeeze the goose's neck, like the Europeans are doing, and she dies. Of course, then the idiots could make Pâté de foie gras, sit around sip the last of their wine and watch the lights go out!
There’s 20 million Fed workers ( including the military and post office, contractors, etc.) working for over 700+ federal agencies and departments* and 14.5 million state and local employees, all of whom receive all their income from tax money confiscated from the private sector. Together, they number 34 million. Taxing them is a kind of ‘wanker’ economics (fiscal folly) and financial sophistry! The 34 million fed and state workers cannot, do not and have never produced anything resembling a profit that adds to the countries wealth and - they cannot be meaningfully taxed as all their compensation comes from private tax dollars in the first place.
* In case you don't believe they exist, to see a list of the 700 + Federal agencies and departments visit http://www.libs-stink.us/evil_democrats.htm
Out of an employed work force of about 140 million ( this used to be, more or less, the number of the gainfully employed, but probably it's a a lot less today- they aren’t saying) but, anyway, subtracting the 34 million blood sucking federal and state drones, leaves only 106 million employed in the private sector. The real figure for those still employed in the private sector in my opinion, is nearer to 92 million.
When you add to that number the 50 million welfare, food stamps, section 8, mooches and freeloaders, we see that 92 million (makers) in the private sector are actually supporting 84 million (takers). The problem is pretty clear and Romney, Bama and all those involved know exactly what I and you do… We are very, very close to the breaking point… probably past it and being held up by PFM "plain fucking magic" and the wonderful printing presses!
Remember, out of the 150 odd million unemployed, there are millions of retired federal and state workers who are also sucking blood money from those gainfully employed in the private sector and being paid with increasingly worthless paper that the government is printing. The Feds confiscated and spent all the Social Security money years ago. Out there somewhere is a massive, truly massive public debt piling up in the area of $50 to $100 Trillion (no one seems to know). This debt can be classified as an unfunded mandate but nevertheless, it's paid every month and, every month, more and more are retiring...
Added to the above is the unknowable and uncounted burden of the unfunded pension and retirement programs of the millions of federal, state and local workers ( public employees) all of which must be paid from funds confiscated from the gainfully employed in the private sector. Obviously, this figure is in the Trillions... No one, so far, has the courage to look into this dark financial closet to see the true size and nature of the monster hiding there! Just as with SS, not a cent has been laid aside for this by the by! Employee contributions to these accounts have been deducted but, every cent has gone into the Feds general accounts and used to further grow the cancer of government and to buy more votes from the dependent and growing underclass.
Just as an aside, when SS was first instituted, (Roosevelt,1935) there were about 16 people working for every one receiving a payment. Today, that number is down to two paying into the system for every one receiving money. If the idiots had invested the money instead of stealing it to pander for votes, the "trust fund" would be gigantic today and, being paid from a separated trust account, not reflected in the budget.
If the federal expenditures were cut in half, ($3.8 Trillion /2 = $1.9 T), the total revenue received from taxation ($1.3 Trillion) isn’t enough to pay for even that level of expenditure by some $500 billion. Proving, I guess, that you can’t take 5 lbs of crap out of a 2 pound box! J
There’s a line item in the budget above called “interest.” In 2011, it was $247 billion- and this is at an almost zero interest rate. If the rate rose to 4%, this figure would be over a trillion by itself.. Eventually, the interest rate has to rise because the Federal Reserve can’t ‘print’ more money, which they must to pay the debt, without diluting the value of the currency, making it less valuable ( inflationary) and causing us to have to pay a lot more for everything. We already are!
You see what I’m driving at. The idiots have put us in a Chinese puzzle box that, without massive changes, we can’t escape! They have signed our collective names to their bills…… we, those of us who actually pay the taxes, (not the 50% of mooches) are effectively screwed! No way out!
Short of outright default and national bankruptcy, There is only one reasonable solution to save the country from total destruction and it’s clear as the nose on your face. 1) Balance and re-structure the budget- spreading the present total revenues over 12 months instead of 7 as we presently are doing. 2) Restructure the debt, stop the borrowing and printing. Set up a long-term payment program, like 30 years. Convert all short term debt into 30-year bonds. Of course, this will severely cut the "entitlements" and highly piss off all the obamazombies and freeloading mooches- but, hey, that's life!
When the printing stops (QE 1,2,3,4,5,6, etc.), the budget balanced and the borrowing stops, these long term notes (Federal Debt) might actually, gradually increase in value. Those held by the government, (billions today) can be sold on the worldwide markets and the proceeds used to buy down the remaining outstanding debt. (Maturity at the maker’s option) The interest payments will have to become part of the new federal budget.
As distasteful as all this will be to the dems, libs, progressive secularists, moral relativists, professional atheists, commies, unions, Marxists, mad- bombers, occupiers, anarchists, mooches and freeloaders, the alternative will be much worse!
Regardless of the direction we go, the mooches are gong to get less and then a lot less. The Feds, if they don't do something intelligent, ( highly unlikely) will eventually have to stop with the stupid food stamps (they will become worthless) and start handing out 50 lb sacks of beans and rice. If they continue as they are, the dollar too will become less and less valuable and the prices of everything will steeply rise.. This will spiral out of control fairly quickly.
Whether my solutions are adopted or not… the mooches will see their ‘take’ cut drastically which pleases me enormously! I want to see everyone who voted for bama to suffer and suffer a lot… I want them to be hungry and I want them to see them shrink. I want them to be cold and miserable.. and then let’s see how they like reality! The truth was there all the time for all to see... Some even knew it but they wanted to rape and pillage more free "stuff" from their bleeding and dying country- stupid greedy, blind, undeserving jerks!