US National Debt

us national debt

National Debt

What is the US national debt? Simply, it is the amount of money the government has spent in excess of what they have received from all monetary sources, including tax revenues. It seems incomprehensible that the level of debt is nearly 20 trillion dollars. This number cannot be understood by most individuals since few US high school graduates can even perform basic math computations.

The debt is the least of the problem for most Americans. Getting the message across to the average person is difficult. Everyone has heard of the growing debt but few people care or are concerned. Most people say that the national debt does not matter or why should they care.

How can the complex problem of national debt be of significance for individuals whose greatest concern is how they look on snapchat? Listen to a large number of TV programs or to a group of young people. You would think that party, weed, bong, blow, speed, ecstasy, random, and heroin are among the most important words in the vocabulary. Can you blame them? Our society praises aberrant behavior, rap music, illicit drugs and dangerous habits. Individuals and the government have the attitude of spend and party to the last minute. The last person has to turn out the light. We are racing to financial collapse.

 Politicians To Blame

I think that few individuals consider the debt. A small number of people consider the solution. Politicians will deflect the discussion away from the national debt. For the past 40 to 50 years, politicians have acted irresponsibly. Politicians have made deals and promises with every interest group and with the general population. They are not sustainable over time.

Politicians do not seem to care about the long term result. They are interested in being re-elected, maintaining power, and staying on the gravy train. Look at all the waste of national and state appropriations. This range of monetary waste is incomprehensible. More outrageous is that individual departments submit and get approved budgets that are larger and larger every year, knowing they offer nothing new or usable.

 Spending Insanity

When will this never-ending loop of spending insanity end? The answer is evident. The government has no plans to solve the debt problem. The government fears the end of stability of the financial system. Without the government’s ability to print money out of thin air, this situation would have never occurred.

As long as the unsustainable borrowing by the government continues, the illusion of prosperity continues. The government is on a rapidly accelerating train with no stops until the crash. Everyone in Washington wrings their hands about debt every two to six years at election time and then laughs and attends cocktail parties. I think the average responsible American is overwhelmed by today’s hectic pace, their personal debt, and feelings of hopelessness from an uncaring government.

Responsible citizens could solve the problem, but this will not occur. The solution would require decreased government spending and changes in the spending habits of every individual. No one is willing to give up any part of their good lives. When the eventual debt-related financial collapse occurs, no choices will be available. Your life and financial situation will be determined by the same government that ruined the system.

Americans Overwhelmed

The government is on a rapidly accelerating train with no stops until the crash. Everyone in Washington wrings their hands about the debt every two to six years at election time and then laughs and attends cocktail parties. I think the average responsible American is overwhelmed by today’s hectic pace, their personal debt, and feelings of hopelessness from an uncaring government. Responsible citizens could solve the problem, but this will not occur.

The solution would require decreased government spending and changes in the spending habits of every individual. No one is willing to give up any part of their good lives. When the eventual debt-related financial collapse occurs, no choices will be available. Your life and financial situation will be determined by the same government that ruined the system.

 Government Answer

How long do we have before a more severe debt crisis occurs? No one is sure. The final debt crisis is complicated and will depend on the degree of accelerating government spending, interest rates, and how much of our debt foreign nations are willing to buy. At some point, the amount of interest spent on debt and programs will exceed the money the treasury takes in.

This will induce even further out of control printing of money, or as the federal reserve refers to it, quantitative easing. What a great expression for such a lie. Why do they not say,”we are printing more money and therefore further diminishing everyone’s buying power.” Every time the government prints new money, the government is diminishing the financial future of its citizens.

The government feels they have to continue printing to prolong this present imaginary prosperity. The real fear is recession and depression, followed by a resentful populace which will vote them out. An even greater fear is depression followed by chaos and anarchy. I do not want to be here when that day comes.

 No Solution

What can be done? The easy answer is  NOTHING! The situation is beyond repair. Each person in the US  has a  debt of $143,000 and growing rapidly. An individual would say, ” I did not spend the money. Why am I responsible?” You elected fiscally irresponsible politicians.

The US is on a financial death spiral which cannot be resolved with the present system. No one in government is going to act until the final crisis. The government is always reactive and not proactive. Our present system is crisis management. Pray that the financial disaster occurs after you have passed away. For seniors, this will probably be the case. With future limited resources, life will become very difficult. This financial disaster is not a situation of if, but when.