How much debt can the United States of America Handle? Over 80% of Americans think our government is a broken entity. Roughly 75% of Americans believe that politicians and government officials aren’t honest. What does this say about the future of our country?
The underlying factor driving all of this animosity is the fact that America is in enormous debt. The people of this country are constantly being lied to, so understandably they find government officials to be dishonest. It certainly isn’t rare for politicians to make promises that they don’t follow through on. As far as our debt is concerned, there really isn’t a realistic plan to get out of it, well their is realistic plan and it is very simple, the political climate in Washington ensures it will never happen unfortunately. The plan is as simple as forcing the government to stop spending money, but we all know that isn’t going to happen.
Washington is broke(n).
The United States right now has the equivalent of a 14 trillion dollar credit card debt and they certainly aren’t acting like you or I would if our credit card debt was as large as our total yearly income. The only thing Washington is doing is admitting there is definitely a serious fiscal crisis and then continuing to expand money and trying to use more spending and more government to solve the problem that the two have created.
Why the US is in debt.
Our government keeps growing, expanding at an alarming rate. Our spending is increasing faster than ever before. Over seas we have a giant costly empire and multiple military entanglements. The Federal Reserve has had its power expanded, it is creating more money and credit to bail itself out the problems that it is responsible for creating.
The politicians pretend they are listening to Americans of course. They are talking a good game, but ask yourself this: have they changed the way they are acting? They are repeating the exact same mistakes that put us into the mess we are in, and doing it faster than ever. The younger generation in this country is waking up in droves to the financial situation, and they are becoming really, really pissed off.
The establishment in Washington is unresponsive to these young fiscal conservatives and they are getting frustrated with the GOP and its fake small government approach. They are becoming more libertarian minded and realizing that this smoke and mirrors game that both parties are playing is costing them a lot of money and giving them an unsettling future to look forward too.
How serious is the debt crisis?
This alarming US debt is approaching levels that the US can’t handle. You cannot borrow forever, you cannot simply print money like the Wiemar Republic in Germany. The only good side effect of this situation is that the status quo is changing. People are realizing the government cannot provide for the citizens and the model is unsustainable long term. This is across the board, even in our foreign policy.
Spending is spending and it has to be curtailed. If the United States Constitution was actually followed 90% of our problems concerning our Federal debt would be solved. The beautiful thing is the young generation is starting to see that. Obama sold them on Hope and Change, but now they are realizing that there is no change and fiscal responsibility is their only hope, not more government. The Republicans and Democrats are both guilty of expanding our military forces out all over the globe and neither party seems to truly view this as a problem, they just use it to their political advantage for cheap shots at the other party or to appear like the national security hero.
So what about this “bankruptcy” in our future. Our national debt is hovering around $14 trillion dollars and many projections show the current president driving that debt up to $19 trillion if he follows out on his campaign promises or new wars erupt in the middle east or elsewhere. We have $30 to $50 trillion in unfunded liabilities from Social Security and Medicare, both popular programs but unsustainable long term none-the-less. Where is the money going to come from to pay for this? There is no lock box for Social Security, the population is aging and the people receiving Social Security gain much more in benefits than they paid into the system because they live much longer.
When can the US no longer handle the debt?
How long before the US can’t handle their debt anymore? This is completely dependent upon how the government and out elected officials act. They are not doing anything to address this ticking time bomb while they are out chasing monsters to slay abroad and expanding government programs to help people that the government policies are harming through unemployment.
The United States of America has as little as 2 or 3 years to get this debt under control and change their spending habits because the US is for all intents and purposes bankrupt. We spend money that we borrow from foreign lenders on foreign projects. It is absolutely insane. The solution that the government traditionally falls back on is printing massive new quantities of money that is inflationary and an invisible tax on responsible Americans who actually saved money. This debt will never fully be paid for and that’s terribly unsettling for Americans who actually understand economics to admit. The governments plan, spurred by the Federal Reserve is to liquidate the debt by destroying the US currency through inflation. Does that sound like a good plan to you? That’s what all governments historically do when their debt runs a muck.
If the US dollar loses much of its value then the debt owed becomes much cheaper because it remains the same “price” plus interest. Ultimately, hard working Americans foot the bill with their savings. The same way the US taxpayers took the bad debt from the big banks that were “too big to fail” and completely footed the bill for the banks irresponsible lending.
This not only destroys our savings, it destroys the value of our assets including our homes, businesses and investments and it is morally repugnant for a republic.
The only hope is you, the people of this great nation. Wake up and stop pretending fake promises from politicians will make life easier for you. They are destroying the nation. The young people of this country are starting to hear the message, and they will carry the torch of fiscal responsibility all the way to Washington if Washington doesn’t financially destroy us first.
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