If you have worried the Democratic Party has ruined America, your fears are well founded. The United States is bankrupt and the twenty-first century will pay the price. [i]
The federal government’s debt of $210 trillion, created by a failure to set aside funds for social security and Medicare, is more than two times greater than all of the personal wealth of all Americans combined. [ii]The debt is eleven times greater than the debt of a country in bankruptcy. [iii]The debt is more than 20 times greater than the mortgage debt on every American home.[iv]
The debt is gargantuan and cannot be repaid except through bankruptcy and failure.
The Democratic Party, led by the progressive Big Media, whose signature legislation is social security and Medicare, has bankrupted the wealthiest country in the history of the world. The “social justice” initiatives of President Roosevelt and Johnson will end by creating the greatest financial crisis in world history. The Roosevelt-Johnson global depression will spread poverty, misery, and violence far and wide.
Proof will be given again that Socialism bankrupts host countries. America is going to learn the hard way. The world will be forced to go with us for a very long ride.
The Democratic Party, led by Big Media, will bury the monumental failure of its progressive economic policies until the cities are burning; when the fallout of their disciplined lies, perfected incompetence, and ambitious vanity will be trivialized by anarchy. Their infamy will be preeminent in the 21st Century.
The financial bill is already so high that every person in America could sell everything they own, not once but twice — every house, car, bicycle, tent, stock, bond, blanket and kitchen sink — send all the money to the federal government, and Medicare and social security would almost be in good standing.
We are very deep underwater and we can’t pay our bills. We are dead broke. Plan B is now our destiny.
The community organizers promising social justice have purchased America’s bankruptcy. The progressive arc of history leads to destitution. Now all Americans are poor. All we are waiting for is the explosion.
If a typical American family buys a $100,000 house and pays off the mortgage they have $100,000 of wealth. If you add up the wealth of all Americans it is equal to $90 trillion dollars. If you add up all the money the federal government should have in the bank to pay for social security and Medicare it is equal to $210 trillion dollars.
The current typical debt of an American family is about $125,000. If our federal government debt for future obligations is spread out evenly to each American family, then every family would each owe $1.8 million to the federal government; including 23 million families who live on food stamps.
Federal debt per family is 15 times greater than personal debt per family.
Add up the mortgages, the credit cards, the school loans, the car loans, total it all, and that debt is $125,000 per family. Federal government debt per family is $1.8 million. We work every day to pay the first debt back. We do it slowly over time using a life of work. The second debt? There’s no way it can be paid back. Meaning what? The progressive Democratic Party, with Big Media leading the charge, has bankrupted the United States and covered up the failure of their signature policies. (Please see chart above: “Every American’s Unpayable Debt. Every American’s Bankruptcy.”.)
Here’s a better way to see the numbers. You are a typical American family with $125,000 of debt. Estimate you pay $1,000 a month on that debt. Now, in our hypothetical example, you are required to pay your fair share of the federal debt every month. Your monthly payment for the federal government debt is $15,000. You need to take home $16,000 every month to break even on your debts — personal and federal. It’s not going to happen, except by bankruptcy.
The default on our federal debt will be a great explosion heard all around the world. It will be the most important macro-economic event of every person in every country alive at that time. To be topped in the 21st Century only by world wars, catastrophic meteor collisions, or some unknown world-ending event.
The progressives’ creation of America’s bankruptcy, with their perfect incompetence in designing social security and Medicare, will unleash the most powerful global initiative ever seen to increase poverty, misery, food riots, burning cities, starvation, crime, political imprisonment, murder, and dictatorship. If you are dedicated to “social justice” and the progressive dream, this is the joy you bring to the world. These are the means you use to create equality. The ends you bring are misery, poverty and death.
If Big Media can cover up the bankruptcy of the United States, could they frame an innocent for the assassination of a president?
[i] Federal debt: the fiscal gap = $210 Trillion. 1. “total government indebtedness”. America’s Hidden Credit Card Bill, July 31, 2014, Laurence Kotlikoff, New York Times. 2. The present value of the total amount by which future federal expenses exceed federal revenues. See “America’s Fiscal Insolvency and Its Generational Consequences, Testimony to the Senate Budget Committee.” Laurence J. Kotlikoff, Professor of Economics, Boston University, Feb 25, 2015.
[ii] Total wealth all Americans: $88.087 Trillion. Household Net Worth. Federal Reserve Statistical Release. June 9, 2016. Rounded to $90 trillion. “two times greater than all of the personal wealth of all Americans”: $210 trillion federal debt / 90 trillion total wealth = 2.3 – rounded down 2.
[iii] “11 times greater than a country in bankruptcy”: Assuming a country has reached the sustainable limit of debt when debt equals 100% of GDP. $210 trillion debt / $18.2 trillion GDP = Debt 11.5 times greater than GDP. Rounded down to 11. Loosely based on “This Time is Different” by Carmen Reinhardt and Kenneth Rogoff.
[iv] Total home mortgage debt: $9.994 Trillion. Federal Reserve Statistical Release. June 9, 2016. Rounded to $10 Trillion. “more than 20 times greater than the mortgage debt on every American home.” $210 trillion federal debt / $10 trillion total home mortgage debt = 21 times. Rounded down to 20.