National debt – our disgrace
The National Debt
Let’s run some numbers.
First, for some, we need to explain the difference between the National Debt and the Annual Deficit.
- The Annual Deficit is the amount of money the government spends, each year, more than they take in from the tax payers.
- The National Debt is the accumulation or running total of debt the government has accrued. It’s not the money the government has spent, it’s the money they spent that they did not have. This debt must be paid to bond and treasury holders, both foreign and domestic.*
The trillion number is so large it is impossible for people other than engineers and mathematicians to comprehend it. This may be one reason why the American people have not rebelled over this outrageous spending. Of course the other big reason is based in greed and slothfulness. At the higher end, billionaires are made richer and the lower end includes a growing class of people taking instead of producing. A recipe for a cataclysmic future.
To help visualize just how immense the trillion number actually is, we decided to run a few calculations which will hopefully help many to see and understand just how egregious, destructive and irresponsible your government has been and continues to be.
So let us begin:
The national debt by the numbers
As it stands right now our National Debt is close to $17,600,000,000,000 (That is $17.6 Trillion). This number is not static. It grows by the month, by the week and by the day. Want to know just how much it is growing?
- Every single day the debt grows by $2,000,000,000.00 (That is $2 Billion)
- More than $83.3 Million every single hour.
- More than $1,388,000.00 per minute.
Looking now at the scope of the National Debt.
Try and wrap your thoughts around just how huge that 17 Trillion number really is. The number is so gargantuan, comprehension of it is difficult. That is why, when we lay out comparisons below, your first thought will be, impossible. But unfortunately, these calculations are quite correct.
If by some miracle, the United States balanced it’s budget and stopped spending money it did not have, and was able to put a hold on the massive amount of interest on it’s debt – neither of which is even remotely possible – but if it were and the government began paying off this debt to the tune of $1,000,000.00 every day, the National Debt would not be paid off for over 48,219 years.
How about one more visual?
The circumference of the earth at the equator is about 24,900 miles. If one were to lay $100.00 bills, end to end at the equator and continued around the world until the $100 bills totaled the $17.6 Trillion you would have circled the planet 667 times !!!!!
Consider now, the effects of saving that proposed $23 Billion over a ten year period, which is the amount that Democrats call outrageous cuts and the RINOs call effective cuts.
Breaking this down and comparing it with actual spending, this proposal would cut spending by $1.3 Billion annually, which is less than the amount this government expands it’s debt every single day.
This $23 Billion over 10 years represents .0073% of the existing debt. If one compares this ratio with the average American individual income of $63,000.00 per year and that individual considered cutting his spending by the equivalent amount as a percentage equal to that of the government proposed cut, that person would be required to spend one cent less over the next 10 years. That’s 1/10th of a penny a year. How’s that for biting the financial bullet?
As a side note, whilst you read and comprehend these astronomical numbers, recall if you will how Obama closed National Parks, Veteran’s Memorials and left our dead soldiers laying on the tarmacs of foreign countries because he was concerned America had no money. Is it any wonder, as a Veteran myself, that my first reaction when I see or hear Obama, is to hurl my latest meal?
Reprinted from TPATH
* The only way for the entire amount of this debt to be not paid is for the US Dollar to be “reset”. This would mean that, based upon the reset assessment, the National Debt would adjust to the percentage of that adjustment. Which means that a 75% reset would change the debt to 25% of the previous amount.
This would be devastating to everyone except the super rich, who would remain super rich. On the other hand if the average citizen had $100,000 in a bank or mutual funds or treasuries or bonds the reset would, over night reduce the value to $25,000.
This would destroy the poor, the lower and middle income as well as the economy. The likelihood of this happening is very small, but you had better know, it is seriously being considered.