National Debt Will Destroy America
Written By: TheEconomicCollapseBlog.com | Posted: Thursday, August 2nd, 2012
The U.S. government has stolen $15,876,457,645,132.66 from future generations of Americans, and we continue to add well over a hundred million dollars to that total every single day. The 15 trillion dollar binge that we have been on over the past 30 years has fueled the greatest standard of living the world has ever seen, but this wonderful prosperity that we have been enjoying has been a lie. It isn't real. We have been living way above our means for so long that we do not have any idea of what "normal" actually is anymore. But every debt addict hits "the wall" eventually, and the same thing is going to happen to us as a nation. At some point the weight of our national debt is going to cause our financial system to implode, and every American will feel the pain of that collapse. Under our current system, there is no mathematical way that this debt can ever be paid back. The road that we are on will either lead to default or to hyperinflation. We have piled up the biggest debt in the history of the world, and if there are future generations of Americans they will look back and curse us for what we did to them. We like to think of ourselves as much wiser than previous generations of Americans, but the truth is that we have been so foolish that it is hard to put it into words.
Whenever I do an article about the national debt, Democrats leave comments blaming the Republicans and Republicans leave comments blaming the Democrats.
Well you know what?
Both parties are to blame. Both of them get a failing grade.
If the Republicans really wanted to stop the federal government from running up all this debt they could have done it.
If the Democrats really wanted to stop the federal government from running up all this debt they could have done it.
So let's not pretend that one of the political parties is "the hero" in this little drama.
The damage has been done, and both parties will go down in history as being grossly negligent on fiscal issues during this period of American history.
Sadly, neither party is showing any signs of changing their ways.
Neither Barack Obama nor Mitt Romney is promising to eliminate the federal budget deficit in 2013. They both talk about how the budget will be balanced "someday", but as we have seen so many times in the past, "someday" never comes.
I didn't mean to get all political in this article, but the truth is that the national debt threatens to destroy everything that previous generations have built, and our politicians continue to give us nothing but excuses.
As the U.S. economy continues to crumble, even more Americans are going to become financially dependent on the federal government.
For example, spending on food stamps has doubled since 2008. Millions of Americans have lost their jobs and have needed some assistance from the government. Since Obama became president the number of Americans on food stamps has gone from 32 million to 46 million.
But the Obama administration believes that a lot more Americans should be enrolled in the food stamp program. The Obama administration is now spending millions of dollars on ads that urge even more people to sign up for food stamps. In fact, their efforts to get even more Americans to sign up for food stamps have become very creative….
"The government has been targeting Spanish speakers with radio "novelas" promoting food stamp usage as part of a stated mission to increase participation in the Supplemental Nutrition Assistance Program (SNAP), or food stamps.
"Each novela, comprising a 10-part series called "PARQUE ALEGRIA," or "HOPE PARK," presents a semi-dramatic scenario involving characters convincing others to get on food stamps, or explaining how much healthier it is to be on food stamps."
I'm all for helping those that cannot feed themselves, but do we really need to run ads urging more people to become dependent on the government?
Of course Obamacare is going to cause our debt to balloon in size as well. It is being projected that Obamacare will add more than 2.6 trillion dollars to the U.S. national debt over the first decade alone.
So where are we going to get all this money?
We can't keep spending money that we do not have. We have got to prioritize. Every single category of government spending needs to be cut.
But instead we feel like we can keep ripping off future generations of Americans and that we will always be able to get away with it.
What we have done to our children and our grandchildren is beyond criminal.
The truth is that we should have listened to the warnings of our founding fathers about government debt. For example, Thomas Jefferson once said that if he could add just one more amendment to the U.S. Constitution it would be a complete ban on all borrowing by the federal government….
"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing."
Where would we be today if we had taken the advice of Thomas Jefferson?
That is something to think about.