Sound Money: The Impossible Dream?
by Floy Lilley
*** begin quote ***
Debt: The US must borrow 46 cents for every dollar spent this year. Outstanding public debt as of 18 August is $11,704,322,903, 918. An estimated population of the United States is 307,209,243, so each citizen’s share of this debt is $38,127. The debt-to-GDP ratio is 82%. This debt will grow by a trillion dollars a year. The debt has to be rolled over every four years. That’s $240 billion a month to be skimmed off capital markets. The four largest budget items are wars, social security, Medicare/Medicaid, and interest on the debt.
*** end quote ***
How does the Republic get out of the mess that the congresscritters have created?
Inflation? Repudiation? What Chapter applies to the nation?
It’s clear we can’t meet our commitments. So what, or rather who, gets thrown under the bus?
Clearly the Chinese, and any one holding our debt. Senior citizens, pensioners, the sick and elderly.
Social security goes broke. What does that look like?
# # # # #