*** $16 trillion national debt ***
Posted in the Elizabethton Forum
Since: Aug 12
#1 Sep 6, 2012
The National Debt:$16 Trillion Dollars Of Moral, Cultural And Political Decay
...Obviously, debt weighs heavily on markets, especially the spending which spurred annual deficits exceeding $1 trillion. Government intervention smothers more gainful private pursuits. As Washington nonchalantly politicizes capital the economy suffers. Private actors would invest far better than politicians bribing the electorate.
As resources filter through the state’s machinations, liberty and prosperity are sacrificed to political ends. Massive debt is economically bad, really bad, and perhaps even hopeless; but much, much worse is what this reveals about America’s moral, cultural and political decay.
Our present debt debacle frequents comparison to World War II. We borrowed then to save Western Civilization. That war would end in triumph. Today, we spend subsidizing civilization’s demise with no victory evident and no end apparent. These debts and the moral morass they sponsor will worsen. Acceleration is baked in as baby boomers only begin to retire and taxpayer supported illegitimacy spawns multi-generational dependency.
Washington’s principal endeavor is rewarding recipients to shun work. Entitlements and relief exceed seventy percent of expenditures; social services then cushion the fallout. Increasingly generous handouts and steeply progressive taxes make entitlement reform treacherous. Politicians spout lip service to frugality, but are so beholden to continuing this largesse the Senate cannot even pass a budget...
...Cradle to grave reliance on public support undermines families and the private institutions such as churches which should stand between government and the individual. Weakened communities result from a godless federal Leviathan saturating life. Society withers as individuals succumb by deferring moral responsibilities to government.
Why save for retirement, care for struggling relatives or assist distraught neighbors when politicians furnish freebies? Washington performs what should be private functions bribing obeisance like a frog in boiling water through social security, government healthcare, unemployment insurance and food stamps. According to the Heritage Foundation, reliance on federal assistance has exploded fifteen fold in the last fifty years.
When government takes care of us, who will take care of government? Not a citizenry thus stunted in character.
Daily, more hop aboard the federal bandwagon, leaving fewer to bear the burden. The taxman’s whip stings mercilessly. Adding insult, Washington muddles the path to prosperity with regulatory quicksand. Businesses’ ability to launch life-enriching goods suffocates in bureaucracy. Dodd Frank was 849 pages generating thousands of rules. Obamacare’s implementation surpasses 13,000 pages and counting.
The Constitution required sixteen pages.
If Washington honored the Constitution, no deficits would exist; debts would be quickly extinguished. More government power means more political corruption. As federal authority overflows its banks, an unseemly political swamp no longer warrants the consent of the governed. America has devolved to where, as James DeLong observes,“systemic corruption is accepted as the normal and inevitable way of doing political business.”
A debauched tax code and federal intrusion intensify strife. The 73,608 page tax code and 82,419 page federal register accomplish little save carving nooks for cronies and protected classes. Government permeating society simmers fears of favoritism as lobbyists swarm to the Potomac. When political stakes increase, so does discord. A bloated political system having lost legitimacy lets confusion and ultimately chaos fester...
The Founders forbid the federal authority from tampering with social matters...Decisions made locally will more likely reflect a community’s values and inflict fewer burdens on dissenters...
AMERICANS NEED TO WAKE UP AND TAKE BACK WASHINGTON FROM THE POLITICIANS!!!
Since: Aug 12
#2 Sep 6, 2012
Sorry for the double post. My refresh was slow and I did not think my thread went thru.
Just to give you an idea of what 1 trillion dollars in $100 bills looks like -- and enlarge that by 16.
Since: Aug 12
#3 Sep 6, 2012
To put this in perspective, The United States government took the first 200 years of its existence to reach one trillion in debt. It has now taken less than 10 months to do it because we were at $15 trillion in December 2011.
- 16 Trillion dollars is enough to carpet the entire states of Delaware, Rhode Island, and Florida in dollar bills.
- A stack of 16 trillion dollar bills, laid flat on top of each other, packed down with no space between them would go past Mt. Everest, out of the stratosphere, past the international space station, past the moon, around the far side, and back. Twice.
- 16 trillion dollars laid long ways, end to end with no space between them, would go on past the moon, past Venus, past Mercury, up to the surface of the sun, back to Earth, past Earth, past Mars, around the back side of Jupiter, back past Earth again, and back to the sun. If you travelled this loop, the second time you reached the sun you would still have about four trillion left to toss in the sun.
The 16 trillion hole does not include any entitlements. It is simply the total amount of money that the government spends on its day to day obligations and interest on existing debt. Mark Steyn has estimated that in 2015 our interest payments to China will pay for China's entire military budget.
It doesn't count the roughly 120 trillion in unfunded future liabilities. Why bother counting that? Nobody with an ounce of sense believes it will ever be paid. No reason to even bother. Your retirement plans and your medical plans are in your hands alone. Get used it.
Here is another way to think about the sixteen trillion dollar hole.
You may remember the famous chess competition of 1997, when international chess champion Garry Kasparov was defeated in a six round chess competition by a multimillion dollar supercomputer named Deep Blue. Deep Blue was built by IBM over an eight year period on a virtually unlimited budget. It was capable of processing 200 million calculations per second.
Now, imagine Deep Blue smoking out the vents, straining and grinding its overworked processors for 22 straight hours. That is how long it would take for it to count to 16 trillion, running at its peak capacity.
....in the entire course of human history, we have only in the past 15 years developed the technology necessary to count our own debt. It is bigger than our most gifted human minds can count. Spend it while you can.
#4 Sep 6, 2012
I know, Bush left us a horrible mess didn't he.
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