Doomer Doug
TB Fanatic
One of the dominating economic realities, both here in the USA and the entire world is the debt is not sustainable, much less able to be repaid. It is a simple fact that the USA will, at some point in the future, suffer a debt repayment crisis. It is beyond contention that this will happen. When it will happen, or how it will happen, or what the actual trigger event will be are unknown. Still, at some point the US Government, ie the private banking cartel miscalled as the Federal Reserve, will lose the ability to issue debt. Once that happens, all government spending will have to be based on actual tax revenue. Since actual tax revenue is usually less than one half of the total spending, it will trigger massive cuts in various social programs, including the DOD, and trigger massive social unrest.
The link below gives the scope of the debt problem for the USA. The usual figure of $22 TRILLION in total government debt is misleading to put it mildly. The commonly referred to $22 TRILLION is roughly TEN PERCENT, RIGHT, TEN PERCENT OF THE TOTAL UNFUNDED LIABILITIES OF $222 TRILLION. Clearly, none of this money will ever be repaid, which guarantees total system collapse. When you see the actual numbers, you see why we are doomed here in the USA.
The link is here.
https://www.zerohedge.com/news/2019...ing-unfunded-liabilities-222-trillion-dollars
The True Size Of The US National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars
Profile picture for user Tyler Durden
by Tyler Durden
Fri, 03/29/2019 - 16:45
Authored by Michael Snyder via The End of The American Dream blog,
The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it. According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet. Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year. But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks downright apocalyptic. According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollars in unfunded liabilities, and when you add that number to our 22 trillion dollar debt, you get a grand total of 222 trillion dollars.
Of course we are never going to pay back all of this debt.
The truth is that we are just going to keep accumulating more debt until the system completely and utterly collapses.
The link below gives the scope of the debt problem for the USA. The usual figure of $22 TRILLION in total government debt is misleading to put it mildly. The commonly referred to $22 TRILLION is roughly TEN PERCENT, RIGHT, TEN PERCENT OF THE TOTAL UNFUNDED LIABILITIES OF $222 TRILLION. Clearly, none of this money will ever be repaid, which guarantees total system collapse. When you see the actual numbers, you see why we are doomed here in the USA.
The link is here.
https://www.zerohedge.com/news/2019...ing-unfunded-liabilities-222-trillion-dollars
The True Size Of The US National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars
Profile picture for user Tyler Durden
by Tyler Durden
Fri, 03/29/2019 - 16:45
Authored by Michael Snyder via The End of The American Dream blog,
The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it. According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet. Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year. But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks downright apocalyptic. According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollars in unfunded liabilities, and when you add that number to our 22 trillion dollar debt, you get a grand total of 222 trillion dollars.
Of course we are never going to pay back all of this debt.
The truth is that we are just going to keep accumulating more debt until the system completely and utterly collapses.