analyticsbox | Jan 05, 2022
Few in Washington are Hearing the Alarm Ring!
$130,000,000,000,000 / $394,000 per person
What’s this? It‘s the Federal Debt - $130 Trillion or $394 Thousand for every person in this country. How did this happen? I’m glad you asked.
The current debt is 30 Trillion (and rising), and the unfunded liabilities are about 100 Trillion (and rising - some estimates are much higher). Unfunded liabilities are promises the government has made which exceed the assets available to pay them (see Facts No Spin #6 for further explanation).
There are no plans by the Federal government to deal with this. Is this ok? I don't think so! And the Congressional Budget Office sees large and growing deficits indefinitely.
THIS IS UNSUSTAINABLE! AND NO POLITICAL PARTY IS WILLING TO DEAL WITH IT. This is not a focus on party, but policy. Neither party has balanced a budget in the last 20 years.
One senior military official, when asked what is the biggest danger to this country, he surprisingly said, ‘The Federal Debt’.
This will have a devastating impact in the future for you and your family if we continue down this road. There are solutions - the best one is to reform entitlements (which are most of the unfunded liabilities and the annual deficit) and cut government spending. This is the best way to grow the economy (the formula for growth is explained in Facts No Spin #16). But however we balance the budget, we must get to fiscal responsibility (see Facts No Spin #20).
THE BOTTOM LINE
Send a message to your representative to fix fiscal policy and balance the budget over time. If they don’t get it, then vote for someone who does, one who cares about our future and will pledge to fix this problem before it is too late.
UNDERSTAND ECONOMICS, THEN VOTE SMART