National Debt – curtandtheotherguy.com

Does the National Debt Matter?

Curt — Fri, 04 Oct 2024 17:45:57 +0000

The short answer is yes—and quite a lot. The US government has accumulated over 35 trillion dollars. To put that into perspective, 1 trillion dollar bills would stretch almost from the earth to the sun. Another way to think of 1 trillion is to imagine a jet flying at the speed of sound, dispensing a roll of dollar bills behind it. It would take that jet 14 years to reach 1 trillion. Finally, the US economy produces about 29 trillion dollars per year—that is our entire economy, not our government! (As an aside, governments literally do not produce anything. Governments only consume what’s produced by individuals and businesses.)

The largest budget category is Social Security at 21%. It is followed by four categories each at 13%. One of those four is interest on the national debt. Think of that—tied for the second largest expenditure of the federal government is interest. The larger problem is that it will only increase unless we begin to rein it in.

Finally, the largest issue with our debt is that it is being serviced by printed/ digitally created currency. The currency creation is of the utmost importance because the ability to create currency out of thin air gives our Federal Government virtually unlimited power. The ability to create currency is quite literally the single greatest threat to our individual freedoms.

What thoughts do you have?

Government is Always the Cause of Inflation

Curt — Tue, 02 May 2023 11:36:25 +0000

Stop listening to the lies. Government is ALWAYS the cause of inflation—both parties, Biden and Trump. More spending without increased revenue coupled with the creation of more dollars is the cause of inflation.

Thoughts?

The Cause of Inflation

Curt — Tue, 21 Mar 2023 16:09:38 +0000

https://www.facebook.com/reel/3473024539649836?mibextid=0NULKw&fs=e&s=TIeQ9V

What say ye?

Federal Reserve

Curt — Wed, 24 Nov 2021 12:31:06 +0000

From 2017–things are much worse today:

Let me try to simplify the National Debt and unfunded liability concept:
OUR National Debt is almost 20 Trillion; OUR GDP, or yearly income as a nation for 2016 was almost 19 Trillion. That’s like me making 19,000 a year and having 20,000 in credit card debt. Do you think I’ll ever pay it off? No, I’ll likely declare bankruptcy.
OUR unfunded liabilities are in excess of 100 Trillion dollars. Remember we “earn” about 19 Trillion. We haven’t paid off OUR debt since at least 1913 (for two years under Clinton we spent less than we took in, but the accumulated debt increased).
Hard decisions HAVE to be made, or one of three things will likely happen:
1. Taxes will increase
2. The US Government will create a new monetary system. Can you say chaos (at least temporary)?
3. The FED will continue to create “money” out of thin air, and you and I will scratch our heads wondering why the cost of living increases faster than our incomes, and OUR Nation’s debt and liabilities will increase exponentially. That will force 1 or 2 to happen.
Comments Please.

For more information:

Federal Revenue: Where Does the Money Come From (nationalpriorities.org)

National Debt

Curt — Wed, 17 Nov 2021 11:35:43 +0000

I’ve been thinking a lot about the greatest threat to our nation and our liberty–the National Debt, coupled with unfounded liabilities. I have a skeleton, 10-point plan. Please comment.

Here are the facts: 2015 Figures
1. 3.8 Trillion budget
2. 439 Billion one-year deficit
3. 20 Trillion accumulated debt
4. Over 100 Trillion in unfunded promised payments
Here is my plan:
1. Cut military spending by 20% = save 120 billion
2. Cut international affairs by 50% = save 25 billion
3. Cut rest of budget by a combined average amount of 15% = save 540 billion
Total savings = 689 billion
4. 439 billion = balanced budget; 250 billion to pay down debt and pay off 20 Trillion debt in 80 years
5. Guarantee Social Security benefits and Medicare at current levels, but do not guarantee increases.
6. Separate Social Security and Medicare from the general budget and have all receipts go into their respective accounts and be used only for those programs. Consider some gradual privatization.
7. Eliminate corporate taxes.
8. Simplify personal taxes to 0 deductions and revenue neutral status.
9. Consolidate and eliminate redundant departments.
10. Allow attrition to reduce federal employees.
What thoughts do you have?