Wake
up America
A
Gift from the Banks to You
Because
The National Debt belongs to You
Please feel free to copy and pass the information along
The Bureau of Public Debt is a unit of the Department of Treasury, to visit the
current government site for debt and interest click
In the Bible is a section titled Proverbs, I
prefer to look at it as the book of cause and effect, this book explains that
when people make bad choices bad things happen; when one looks at the debt and
what it’s going to take to repair the mess is basically the epitome of politicians (both the Asses and
Elephants)
making bad choices and the rest of getting to suffer the consequences of their
actions.
This
nation is $ 34.85 Trillion in the hole
(debt). Last year this nation spent $2 Billion 418 Million every day on interest
payments of that debt ($ 882,625,000,000).
We The Little People
&
our kids are about
to get hosed
President Trump decided to bail out the BANKSTERS (March 2020) to the tune of at least $1.5 Trillion who will be buying up more houses as happened in 2008 the last time they were "bailed" out only this time it will be worse because the greedy SOB's wrecked the economy. We have exceeded the $1.5 trillion increase in the National Debt (over $7.8 Trillion debt increase since elected) which we were told would take 10 years to reach that point; it would appear that We the American People have been fed another line of crap again; this one courtesy of President Trump.
“Extraordinary Measures” on Debt
Just
“Cook the Books”
Why be Disingenuous
From the Congressional Budget Office (CBO)
Extraordinary Measures
have become
Standard
Operating Procedures
Lets not forget Social Security still has problems & insanity still rules in D.C.
Budget
surplus must first go toward debt reduction; Jan. 1998
Our Government rules when it comes to
cooking books;
The
Associated Press, July 2002
From USNews & World Report - And Pigs Will Fly; Oct 2002
The looming national benefit crisis; Unfunded Obligations USA
TODAY; Oct 2004
Congress can cancel or cut Social Security and Medicare any time; USA TODAY Aug 2006
The coming Financial Crisis, Who will Pay the U.S. Debt Sept 2006
Sundown
in America;
Social
Security report buries crucial statistic; system is $34.2 Trillion in the red; Seattle Times July 2017
There are a large number of people who do not understand the correlation between debt and deficit, the definitions for those words have been included.
DEBT: how deep the hole is: the total amount
of money that has been borrowed.
DEFICIT: how fast the hole is being dug:
how much more the government has spent (like a credit card) during the year
then the government has received.
Look at the national debt as if it were an ARM, (Adjustable Mortgage Rate) and
we the people as the homeowner. When the Federal Reserve Bank raises the rates
in the future our financial problems; because we are the homeowner with the ARM
(Adjustable Mortgage Rate,) will become catastrophic.
Doubling the interest rates on
U.S. National Debt would raise that interest rate to 4.5% (currently 2.25%**); our interest payment would go from
$882 Billion per year to $1.250 Tillion per year, thereby rendering the United States, financially, little more than a
glorified third world country.
Stopping this runaway debt and interest serves the “Common Good”
Was talking to a business major a while back who had never heard of Amortization schedules so went online to a mortgage calculator and ran the numbers using our National Debt, first one $19.8 trillion (our debt Nov 2016) using 2.25% interest, total interest will equal $7,446,500,000,000 ($7.446 Trillion) second one debt as stated $19.8 trillion with interest rate doubled to 4.5% total interest will equal $16,316,530,000,000 ($16.316 Trillion). Stopping this runaway debt and interest really does serve the “Common Good”
Amortization schedule #1 $19.8 Trillion @ 2.25%
|
Debt Amount |
$
19,800,000,000,000 |
|
Term |
30
Years |
|
Interest Rate |
2.25% |
|
Monthly Payments |
$ 75,680,000,000 |
|
Total Payments |
$
27,244,800,380,000 |
|
Total Interest |
$ 7,446,500,000,000 |
Amortization schedule #2 $19.8 Trillion @ 4.5%
|
Debt Amount |
$
19,800,000,000,000 |
|
Term |
30
Years |
|
Interest Rate |
4.5% |
|
Monthly Payments |
$ 100,320,000,000 |
|
Total Payments |
$
36,115,200,000,000 |
|
Total Interest |
$ 16,316,530,000,000 |
Would be Monthly Payments if we were paying down the Debt
but
not happening, we have gone another $15 Trillion in the hole instead
We as a nation are in a bit of a bind.
From 1945-1971, the period of the "gold exchange standard",
the US fixed the dollar to gold at $35 an ounce. Doubling the
price to $70 per oz equals a 100% increase; at $350 an oz that is a
1000% price increase.
The total amount of gold owned by
the U.S. Treasury is 261,498,926 ounces.
For the United States to go back to the gold standard each ounce of gold
that the Federal Government owns would have to be priced over $135,000 (Oct 2022) that would qualify as Hyper-Inflation; Leaving
the gold standard in 1971 so that paper money without a standard could be
printed to pay for the Vietnam War started the slide that let our elected
officials in United States run up this disastrous National Debt.
** The 2.25% listed above is the Treasury Department’s
nominal Interest Rate, the averaging of 3-month T-bill, 6-month T-bill, 52-week
T-bill, 2-year T-note, 5-year T-note, 10-year T-note, & 30-year T-bond.
The Federal Funds Rate has been set
by the Federal Reserve Bank at between 0-00.25% since December 16,
2008; when the rates increase and it has started (Fed Funds Rate
1.50-1.75 March 23, 2018) is
when our Interest on the National Debt will start climbing.
WASHINGTON D.C. WE WAVE A PROBLEM
What happens if history repeats, During
the last year of the Carter Presidency (1980) the Federal Reserve Bank pushed the Prime Rate
to over 20%; on a $34.85 Trillion National Debt the Interest Payment would easily exceed $3
trillion per year.
I realize that this is the United States and not Russia but on
December 15, 2014 the interest rate in Russia increased to 17%
effectually wrecking their ecomony.
Now that The Federal Reserve Bank has absconded with $7 Trillion from the Treasury Dept to buy Bonds (where did you think the money for "Quantitative Easing" came from, yes, that money was "loaned" by the Treasury Dept to the Federal Reserve Bank) it is time for the Federal Reserve Bank to raise interest rates.
PROBLEM LOCATED, THE HOUSE & SENATE WASHINGTON D.C.
A Bible search using lend*, borrow*, debt*, bribe*, and *justice* was performed
using a computer (* is a wild card symbol when doing computer searches). If the
Old Testament is any indication of what happens in the future, there should be
a large number of Capital Hill employees (elected officials) working overtime
to rectify the problems they manufactured because of the injustices that were
created pandering to special interest groups and by writing unfunded feel good
legislation.
That was then
Front page Seattle P.I.
Seattle
P.I.
Associated
Press
April
4, 1990
A
cool $3 trillion: That’s a lot of 0’s the nation owes
That’s $3,000,000,000,000. Count them: a
three and 12 zeroes.
A person counting a $1,000 bill each second
would take 133 years just to reach $1 trillion.
And when the nation debt reached $3 trillion,
it meant that it would cost every man, woman and child $12,000 to pay it off.
“The debt subject to limit did go over $3
trillion on Monday” confirmed Peter Hollenback, public affairs officer for the
Treasury’s Bureau of Public Debt.
The actual level of public debt subject to statutory
limit at the end of the day was $3.023 trillion. That’s just $99.59 billion
under the statutory limit of $3.123 trillion. The national debt stood at $2.989
trillion last Friday.
Hollenback said that despite a growing number
of income tax receipts at this time of year he expected the debt to continue to
grow as long as the budget was not balanced.
Congress enacted the current debt limit last
November.
The debt reached $1 billion in 1916 during
World War I, climbing to $278 billion at the end of World War II.
It reached its first trillion on Oct. 1, 1981
and rose to $2 trillion on April 3, 1986.
The rapid growth in the debt is the result of
the government’s huge deficits for the past decade. Democratic opponents often
pointed to the fact that President Reagan ran up more public debt in his eight
years in office than all his predecessors put together.
The federal deficit has continued to grow
since then and totaled $152.1 billion during the fiscal year ended Sept. 30.
By the end of February, the deficit had
reached $97.52 billion, just $2.48 billion less than the Gramm-Rudman deficit-reduction
target for the entire year. Interest on the deficit during February totaled
$17.32 billion and is expected to reach $254.85 billion for the year.
Analysts have said the target for fiscal 1990
has all but been abandoned, with some suggesting the actual imbalance for the
year will total $160 billion to $165 billion.
U.S. Treasury
(Figures in millions)
(Add 000,000 to each #)
|
Total
public debt April 5, 1990 |
3,030,157 |
|
Statutory
debt limit |
3,122,700 |
|
Operating
balance April 5 |
9,383 |
|
Interest
fiscal 1990 thru Feb |
111,727 |
|
Interest
period fiscal 1989 |
100,493 |
|
Actual
deficit fiscal 1989 |
151,988 |
|
Actual
deficit fiscal 1988 |
155,151 |
|
Receipts
fiscal 1990 thru Feb. |
393,477 |
|
Receipts
period fiscal 1989 |
372,761 |
|
Outlays
fiscal 1990 thru Feb. |
490,995 |
|
Outlays
period fiscal 1989 |
465,410 |
|
Gold
assets thru February |
11,05 |