34 Facts On The Debt

h/t http://conservativeblogscentral.blogspot.com

Today is the 1000th day since the Democrat-controlled Senate passed a budget.  Obama’s last budget was voted down 97-0.  Democrats have absolutely failed in leadership as the debt goes up:

The U.S. government’s debt is bad. How bad? It’s so bad that liberals don’t even pretend to have an answer any more. They used to shrug it off. “We’ll grow our way our of it.” In a recovery this weak? With 8.5% unemployment? They know better.

But Congress does nothing about this. It has no intention of doing anything.

#1 During fiscal year 2011, the U.S. government spent 3.7 trillion dollars but it only brought in 2.4 trillion dollars.

#2 When Ronald Reagan took office, the U.S. national debt was less than 1 trillion dollars.  Today, the U.S. national debt is over 15.2 trillion dollars.

#3 During 2011, U.S. debt surpassed 100 percent of GDP for the first time ever.

#4 According to Wikipedia, the monetary base “consists of coins, paper money (both as bank vault cash and as currency circulating in the public), and commercial banks’ reserves with the central bank.”  Currently the U.S. monetary base is sitting somewhere around 2.7 trillion dollars.  So if you went out and gathered all of that money up it would only make a small dent in our national debt.  But afterwards there would be no currency for anyone to use.

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Dear Grandma And Grandpa…

…I’m just going to say it.  We love you, but you’re being incredibly selfish and unrealistic.  You are responsible for this mess too.

YOU voted in a bunch of politicians that sold you Ponzi schemes called Social Security and Medicare; you allowed politicians to stay in office and let them spend that money; you let them enrich themselves off that money; in 2010, 57% of all Federal Revenues went to pay for Social Security / Medicare; that amount is growing to enslave our countrymen.

You have to help!

You can’t just say, “No, I paid into Social Security, I get ‘retirement'”.  It’s incredibly selfish and unrealistic.

I didn’t start voting until Reagan was in office.  So, everyone else from 1935 – 1984 is also responsible for the Social Security / Medicare laws and debts created during those times and the affect of those laws since.

Why do you think you’re entitled to take my money and my kids money because you gave politicians your money, you didn’t watch them, and they spent it?

At the very least, take a look at how much you paid into Social Security/Medicare, add a compounded 4%, and strive to use only that much in your retirement.

That is not too much to ask.

Graph is from here

h/t thearc.org