QUESTION..HOW DO YOU BRING A SUPER-POWER TO ITS KNEES?ANSWER..BY COLLAPSING ITS ECONOMY,FORCE DEFICIT SPENDING,MASSIVE BORROWING,DESTROY INFRASTRUCTURE,DESTROY CROPS,STRETCH MILITARY TO BREAKING POINT,CAUSE HIGH-INFLATION,MASSIVE-UNEMPLOYMENT,FUNDING COLLAPSE OF EDUCATION,INDUSTRY DECLINE,AND REMOVE BACKING OF CURRENCY……THIS IS JUST A BRIEF DESCRIPTION OF AMERICA TODAY.
YOU THOUGHT THAT THIS DESCRIPTION WAS BAD ,YOU AIN’T SEEN NOTHIN’ YET.THE WORST IS YET TO COME.BY ORDER OF GOD IN PERSON,BABYLON IS NOW MADE TO SUFFER DISGRACE AND DISHONOR IN HER FALL…BELIEVE ME,IT ONLY GETS WORSE FROM HERE ON OUT.;”
Trillions of Troubles Ahead
Published on 12-21-2009
Source: ForbesA crushing burden of debt threatens to sap America’s growth for years to come.
Not too long ago, a billion dollars in a governmental budget was a lot of money. Then we got into hundreds of billions. People understood that this was a lot, just because of all the zeros. Now, unfortunately, the number has become small: the world “trillion,” as in $1.2 trillion for health care reform, seems so tiny. But it has 12 zeroes behind it, which is so easy to forget.
If the government stays on the course it’s been on for the past forty years without a radical change, the federal government will soon have a $10 trillion budget.
In other words, the federal budget deficit will be $1.4 trillion. Just to make the size more visible, that’s $1,400 billion.
Our colleague Rob Arnott, who always does terrific research, wrote in his recent report that “at all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company–only Japan, Lebanon and Zimbabwe are higher. That’s only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% of GDP. Less than three years ago our total indebtedness crossed 500% of GDP for the first time.”
Add the unfunded portion of entitlement programs and we’re at 840% of GDP.