Help! Our nation is on the fast track to a financial disaster. Where is Dave Ramsey when you need him? Our nation needs a “Total Money Makeover”. Let’s enroll our president and all members of Congress, both the House and the Senate, into Dave Ramsey’s “Financial Peace University” and become debt free.
It is so simple:
If spending is greater than revenues—we have a deficit.
If spending equals revenues—we have a balanced budget.
If spending is less than revenues—we have a surplus.
Our Congress can’t even get a balanced budget passed. God forbid—what if Congress actually started having a surplus each year and brought our $19 trillion debt down to $0!
It boils down to each of us as voters. Our country needs to turn around and solve this $19 trillion debt issue. We need elected officials who are willing to put the needs of the country ahead of their own agenda. POLITICS must take a back seat. The ultimate power over the U.S. Government lies with the people and we have the right and responsibility to choose our elected officials by voting, and to hold them accountable. Let’s do it!
What are the negatives to this growing national debt?
- We are mortgaging the future earnings of our kids and grandkids.
- Debt payments, borrowed dollar plus interest, will negatively impact economic growth.
- In 2015 the public debt per taxpayer is $154000. As taxes are raised the standard of living decreases. The middle class is shrinking quickly. With higher taxes and a shrinking economy at some point we hit a death spiral.
- America’s debt-to-GPD ratio was 35% in 1980. Today the ratio is over 102%. This cannot be sustained.
- Get ready for a financial crisis—all it takes is for China to call in their loan.
A few facts and figures:
Our government has had a shortfall in 45 of the last 50 years.
The massive debt is a symptom of government waste and unsound economic policies.
The debt was $43 billion is 1940, $908 billion in 1980, $17.5 trillion in March 2014, and over $19 trillion in February 2016.
Immediate action is required on the big entitlement programs. Ready for this? 50% of Americans rely on the government for part or all of their subsistence—this includes all mean-tested programs, pensions, unemployment, social security, and Medicare. This is clearly not a sustainable situation—we are critical mass! Maybe it should be called socialism?
Social security and Medicare are rapidly approaching insolvency.
What has happened during the seven years of our present administration? $431 billion was thrown at failing financial institutions along with an $831 billion stimulus package. How did that work out? Remember Solyndra??? Total gross public debt was $10 trillion in September 2008 and is now over $19 trillion in February 2016.
Can all this be stopped? Or are we committed to driving the ship into a total disaster? Let’s get busy and save the greatest country on earth.