OWE NO MAN NOTHING!
So says the scripture. Good advice, not only spiritual wisdom, but secular as well. Debt, unrepayable, with its pressure and tension, ruins everyone and everything.
That makes reference to debt which cannot be repaid in the normal course of business or living. Tens of millions would never own a home, or a car, or be able to afford the extreme cost of education today unless reasonable financing was accomplished. Scripture means don’t incur debt you can’t repay in the normal course of living and in the present.
But, my fellow Americans, we have a debt which we know little about, and which only increases daily, and which cannot be repaid in the normal course of living. That debt is the American Federal Government debt which now exceeds the unfathomable sum of, are you ready for this:
$35 TRILLION DOLLARS.
Not millions, not even billions, but now TRILLIONS of debt dollars, owed by Uncle Sam, that is by:
YOU AND ME.
That means, says one economist and accountant, that you and I, American citizens who elect and foster the decision making of this federal government owe the unbelievable sum of, are you ready for this:
$100 THOUSAND DOLLARS.
$100,000! And if we think that is a problem, that number only increases daily, hourly, for this DEMOCRAT GOVERNMENT, the Biden Administration, just loves to spend your and my money and of course without ever asking.
Biden Administration officials now spend and increase this American debt number by:
ONE TRILLION DOLLARS EVERY ONE HUNDRED DAYS.
That, my fellow Americans, my freedom-loving, freedom-from-debt-loving Americans, is an absolutely staggering financial fact and it is absolutely stunning that such a debt, this unbelievably high number is accepted, if it is even understood, by you and me. WHY?
And another absolutely stunning fact. WE THE PEOPLE must now pay one trillion dollars per year, ONE TRILLION DOLLARS PER YEAR just for interest alone on that debt. ONE TRILLION DOLLARS EVERY YEAR JUST FOR INTEREST ALONE AND THAT NUMBER GROWS EVERY DAY! That interest payment alone is more than we spend as a nation on DEFENSE. It is more than we spend on the ever-declining American infrastructure. One Trillion Dollars in interest is more than WE THE PEOPLE spend on Education and more than we spend on poverty programs. It is the worst kind of debt, really unpayable unless there are mammoth and massive new taxes put in place, and the world at large comes calling for the repayment of that debt, demanding that each American citizen pay the one hundred thousand dollars each would owe if the debt were to be repaid. How in the world did we the people ever let our country, our profligate Federal Government ever get to this point, HOW?
President Bill Clinton knew that we had to deal with this big long-term debt problem, but he and his administration did nothing about it. President Barack Hussein Obama knew such fiscal policy was “irresponsible” but did nothing about it. President Donald J. Trump said we’ve got to get rid of this long-term American debt, but he as well did nothing about it. Then comes President Joe Biden, a man given to the lie whenever expedient, and he tells the American people one of the largest lies he has ever told:
“WE LITERALLY CUT THE FEDERAL DEBT IN HALF.”
And no one, especially his supporters, liberal, woke, radical media cohorts ever challenged one of the greatest and largest lies ever told by any American President. Not only was the American budget not cut in half, but it was and is increased by one trillion dollars every one hundred days, President Biden! We Americans don’t need nuclear warfare with Russia or China or any other nation to destroy us, we have become expert at:
SELF DESTRUCTION – FINANCIAL SELF DESTRUCTION!
Small wonder we have had the inflation problems so recently experienced, in the last four Biden years, where the prices of everything have risen dramatically. We are on the verge as a country, of what is known as hyperinflation, an economy out of control, and a nation virtually bankrupt. It was that very hyperinflation which destroyed Germany, the German economy after World War I and produced perhaps the most evil man in all of human history, Adolf Hitler as dictator, promising to solve the hyperinflation problem and restore Germany to its former greatness. Many think there is some possibility that such a thing could happen in America at some time in the future, the end of course of our great nation and our even greater democracy.
No problem says Biden. We will just tax the rich, the wealthy even more. We will get what we need to manage the debt in the present (not reduce it) from the American rich. That of course, as Biden and his cronies well know, is an absolute impossibility. The Federal Government could confiscate all the wealth, all the assets held by the wealthiest Americans, whoever they are and however many of them there are, and this profligate American debt would never, ever be extinguished or repaid. We are, my fellow Americans, a nation painfully out of financial control and you and I, YOU AND I, are responsible for letting that happen.
In ten short years, or realistically even sooner, the debt held by the American public will reach the staggering sum of:
$50 TRILLION DOLLARS.
If so, that staggering number would represent 136%, 136% of the entire American economy. Our nation would be beyond hyperinflation and would be utterly destroyed financially. Why, my fellow Americans, do our elected officials, our politicians with their heads in the sand, never acknowledge or deal with these problems, why?
This ever increasing debt produces ever increasing interest payment demands, and the payment of interest alone will be one of the most destructive factors ever in the American economy. This profligate Federal Government (Biden) spending will destroy our country, utterly destroy it. Our elected officials, our politicians do not seem to really view these critical and crucial financial matters as real problems, and it matters not whether the politician is Democrat, Republican, Libertarian, Independent, or whatever. NO ELECTED WASHINGTON-FEDERAL GOVERNMENT OFFICIAL HAS THE COURAGE TO DEAL WITH THE GREATEST PROBLEM AMERICA HAS EVER FACED!
WE THE PEOPLE know that and we do nothing about it, NOTHING! WHY?
America, the republic, the democracy, is on a path to self-destruct. It will soon be another post-World War I Germany, where hyperinflation destroys the lives, the lifestyle, and the economy of millions upon millions of people. But it seems as though WE THE PEOPLE remain indifferent. We do nothing. We lack courage or demand. We elect and forget. We vote every four years or sooner, and get back to the good life, all the while our beloved America is economically destroyed. Like Nero of old, he fiddles on a balcony while Rome burns, while Rome is destroyed. We just simply don’t seem to care. God help our children and grandchildren, and those young yet to come, for them there will be no America, no nation even close to what we know and in which we have lived.
Instead of owing no man or anyone nothing, WE THE PEOPLE will owe everything we have and that debt will be the end of everything.