We are Broke.

What happens when a company runs out of money? When it doesn’t have enough money coming in to pay its bills, what happens? Everybody knows the answer to that. Let me rephrase that -, every SANE person knows the answer – the company goes bankrupt and out of business. Here is something you may not know. America is bankrupt.

America has a debt of almost 30 trillion dollars. And with the HR-1 bill in congress it will go past that mark. Well, john, why should that worry anyone? This country has always had a debt, why is this different?

Two reasons. Our national budget for a year is 4 trillion dollars. It is only March, and the government has  already spent 4 trillion dollars. So what? We’ll just print ,ore money, right? Unfortunately that is true. We will just keep running those US Treasury presses going full speed night and day and print more money. Here is reason number Two: The GDP or Gross domestic Product is the dollar-amount value of all purchased goods and services over the course of one year. and it is only 21 trillion dollars. (That’s for 2019 the latest info we have.) And, simply put, it is the amount of money America generates in a year.

I’m not an economist (and I don’t play one on TV), but simple math tells me hat we are spending 10 TRILLON dollars a yar more thatn we have and even if we cut government expense to the bone (which will never happen – government gets bigger every year) we are NEVER going to get this country out of debt. Let me put it another way. Every family in America would have to cough up over $280,000 to pay off this debt. I don’t know about your family but mine is a little short of that amount.

Should you worry about this? You’re damned right you should. Because it means that America is bankrupt, and what happens when ANYTHING goes bankrupt? America is going out of business. And printing more meney will just csause inflation to go up and your dollar grow less. Venuuela is bankrupt. Their $1 MILLION Bolivar note (the equivalent of our dollar) is worth – 53 CENTS.

The government tells us the inflation rate Is 1.4%. Obviously the government hasn’t been to the grocery store lately. If it had, that decimal point would be removed because the actual inflation rate is about 12-14%. That means your dollar is really only y worth about 86 cents. And the more money the government prints, the less value you dollar has.

In Germany before WW-II  inflation was so high it took a wheelbarrow full of Deusche Marks to buy a loaf of bread. Get your wheelbarrow out. America is rapidly going down the tubes. To see our problem take a look at the National Debt Clock http://www. U.S. National Debt Clock : Real Time (usdebtclock.org)

About johnbeckmanbooks

John Beckman, a retired meteorologist, was known as “Johnny the Weatherman” in a career that spanned forty years. He forecasted the weather on WSJS-TV in Winston-Salem, NC, at WFGA-TV in Jacksonville, FL, and for thirty-three years in Atlanta at WSB-TV and WXIA-TV. Also a well published author Beckman now devotes full time to writing fiction. He currently has several eBooks on Amazon.com, "Tropical Knights," first in a series of adventure/mysteries about a sailor and his lovely CIA cohort on a mission to save America. Now available the sequel, and second in the series: "Tropical Daze." The third Jack & Amy adventure is "Tropical Rage" which became available on 30 April 2014. All of his books are highlighted on http://johnbeckmanbooks.com and available from Amazon.com. . .
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