I’, going to tell you a dirty little secret that the US government doesn’t want you to know. Of course if you’ve ben to the grocery store lately you know something is not right. How long has it been since you could afford a steak? It’s not just food, everything costs more. Why is that?
The government tells us the “inflation rate” is 5% which is bad enough. BUT in computing the inflation ra the government doesn’t include some minor things like – wait for it- the cost of food, energy, cars, and homes. And home prices are soaring. So the real inflation r ate is about 20%. What does 20% inflation mean to you? It’s simple 4th grade mat, folks. It means your dollar is NOT worth 100 cents. It is only worth 80 cents. So it takes more dollars to buy anything. And you intuitively know that if you buy food for your family.
But there is an even more insidious and tragic consequence to the fiscal irresponsibility of Democrats AND Republicans who are supposed to be working for us. Our nation is already in debt by 28 TRILLION dollars. Keep in mind, without spending another penny your government adds a TRILLION DOLLARS to that debt. every year with their ‘normal” budget. And that is EVERY year on into the future. Where does the debt go from here? 40 trillion? 50 trillion? We can’t even pay the INTEREST on the 28 trillion now. America is bankrupt. And yet the politicians want to raise the limit on their “debt credit cared.” This is insanity.
Please understand. This NOT “paper” debt. This is real debt just like the debt on your car, your house, your credit cards. This debt NYST BE BE PAID to those who “loaned”: this money to us, the bond holders around the world.
Your taxes are going up. But no amount of taxation willl pay off this gigantic debt. So even if we used ALL of our Gross Domestic Product (that’s all the money created by business and industry) as payment on this debt it would take upwards of a HUNDRED YEARS to pay off this massive debt .If you’re under age 35 you can forget retiring at 65 with Social Security. You’re not going to ever retire, and you and your children and your grand grandchildren and their children will be paying off this debt.
Our government spending is out of control. What do you get for all the taxes you already pay, other than funding the military? The answer is nothing unless you are on welfare, free housing, food stamps and free health care. You do we understand, don’t you? – NOTHING is FREE. You pay for everything the government gives away. I wish I had better news for you young people but because of profligate politicians you are not going to own a home, a new car, a vacation, and no college for your kids. YOU are on the hook to pay off 30 (or more)TRILLION dollars of US debt.