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The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars

The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars

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.

And even though the federal government is the biggest offender, there are also others to blame for the mess that we find ourselves in.  State and local governments are more than 3 trillion dollars in debt, corporate debt has more than doubled since the last financial crisis, and U.S. consumers are more than 13 trillion dollars in debt.

When you add it all together, the total amount of debt in our society is well above 300 percent of GDP, and it keeps rising with each passing year.

 …click on the above link to read the rest of the article…

FedEx Is Talking As If A Global Recession Has Already Begun – And The Numbers Back That Up

FedEx Is Talking As If A Global Recession Has Already Begun – And The Numbers Back That Up

“Slowing international macroeconomic conditions” is just a fancy way to say that the global economy is in big trouble.  For months, I have been warning that economic conditions are deteriorating, and we just keep getting more confirmation that we are facing the worst global downturn since the last financial crisis.  For the second time in three months, FedEx has slashed its revenue forecast for this year.  In an attempt to explain why revenue is declining, FedEx’s chief financial officer placed the blame squarely on the faltering global economy.  The following comes from CNBC

The multinational package delivery service reported declining international revenue as a result of unfavorable exchange rates and the negative effects of trade battles.

“Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue,” Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer, said in statement.

The use of the word “trends” implies something that has been going on for an extended period of time, and obviously FedEx doesn’t expect things to get better any time soon if they have cut profit projections twice in just the last three months.

And FedEx certainly has a lot of company when it comes to having a gloomy outlook for the global economy.  In one recent article, Bloomberg boldly declared that the global economy is in the worst shape it has been “since the financial crisis a decade ago”

 …click on the above link to read the rest of the article…

America Is Committing Suicide: Over The Past 12 Months, The U.S. National Debt Has Increased By 1.271 Trillion Dollars

America Is Committing Suicide: Over The Past 12 Months, The U.S. National Debt Has Increased By 1.271 Trillion Dollars

If we do not change course, our once great nation will be destroyed by a debt that has grown wildly out of control.  We are facing an unprecedented debt crisis that literally threatens to bring our country to an end, and yet our politicians are almost entirely silent on this issue in 2018.  In fact, Republicans and Democrats just worked together to pass another big, fat spending bill through Congress that is actually going to increase the pace at which we are going into debt.  What the Republicrats are doing is not just wrong.  To be honest, the truth is that they are committing crimes against humanity, and they are completely wiping out the very bright future that our children and our grandchildren were supposed to have.  How in the world is America supposed to be “great again” when we are buried in so much debt that future generations can never have any possible hope of getting free from it?

The fiscal year of the federal government goes from October 1st to September 30th.  During the fiscal year that just ended, the U.S. national debt increased by 1.271 trillion dollars

The federal debt increased by $1,271,158,167,126.72 in fiscal 2018, according to data released today by the Treasury.

The total federal debt started the fiscal year at $20,244,900,016,053.51 according to the Treasury, and finished the fiscal year at $21,516,058,183,180.23.

This is one of the reasons why I wanted to go to Washington.  Our current “representatives” are completely and utterly failing us.

Once upon a time, at least members of the Tea Party would stand up and say something, but these days nobody seems to care that America’s future is being systematically destroyed.

…click on the above link to read the rest of the article…

Debt Nightmare: Does Anyone Actually Care That Our Exploding National Debt Is Destroying Our Future?

Debt Nightmare: Does Anyone Actually Care That Our Exploding National Debt Is Destroying Our Future?

When will America finally wake up?  The borrower is the servant of the lender, and we now have a colossal 20 trillion dollar chain around our collective ankles.  We have willingly enslaved ourselves, our children and our grandchildren, and yet our addiction is so insatiable that we continue to add more than 100 million dollars to our debt load every single hour of every single day.  The national debt is sitting at a grand total of $20,162,176,797,904.13 at this moment, but now that the debt ceiling has been lifted that number is expected to shoot up very rapidly toward 21 trillion dollars by the end of the year.  The national debt had been held down by accounting tricks to keep it under the debt limit for many months, but every time this has happened before we have seen the national debt absolutely explode back to projected levels once the debt ceiling was raised.

But very few of our “leaders” in Washington seem to care that we are in the process of committing national suicide.  There is no possible way that we will be able to continue to be the most powerful economy on the planet if we continue down this road.  During Obama’s eight years in the White House, we added more than 9 trillion dollars to the national debt.  That certainly improved things in the short-term, because if we could go back and take 9 trillion dollars out of the economy over the past 8 years we would be in an absolutely nightmarish economic depression right now.

But even with all of this borrowing and spending, our economy has still only grown at an average rate of just 1.33 percent a year over the last 10 years.

And by going into so much debt, we are literally destroying the future for our children and our grandchildren.

…click on the above link to read the rest of the article…

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