{"id":24437,"date":"2017-07-13T18:53:06","date_gmt":"2017-07-13T23:53:06","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24437"},"modified":"2017-07-13T18:53:06","modified_gmt":"2017-07-13T23:53:06","slug":"is-this-the-generation-that-is-going-to-financially-destroy-america","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24437","title":{"rendered":"Is This The Generation That Is Going To Financially Destroy America?"},"content":{"rendered":"
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Is This The Generation That Is Going To Financially Destroy America?<\/span><\/a><\/h3>\n<\/div>\n
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\"\"<\/a>Did you know that the federal government is going to spend more than 4 trillion dollars this year?\u00a0 To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.\u00a0 So when you are talking about 4 trillion dollars you are talking about a huge chunk of our economy.\u00a0 But of course the federal government doesn\u2019t bring in 4 trillion dollars a year.\u00a0 At the beginning of Barack Obama\u2019s first term, we were 10.6 trillion dollars in debt, and now we are nearly 20 trillion dollars in debt<\/a>.\u00a0 That means that we have been adding more than a trillion dollars a year to the national debt.\u00a0 When you break that down, that means that we have essentially been stealing more than a hundred million dollars from future generations of Americans every single hour of every single day<\/a> to pay for our debt-fueled lifestyle.\u00a0 Even Federal Reserve Chair Janet Yellen is warning that this is not sustainable<\/a>, and yet we just keep on doing it.<\/p>\n

Nobody can pretend that what we have today is the kind of limited federal government that our founders intended.\u00a0 When federal spending accounts for more than 20 percent of GDP, it is hard to argue that we haven\u2019t moved very far down the road toward socialism.\u00a0 As I mentioned above, total federal spending will surpass 4 trillion dollars for the first time ever<\/a> in 2017\u2026<\/p>\n

Both the Congressional Budget Office and the White House Office of Management and Budget project that federal spending will top $4 trillion for the first time in fiscal 2017, which began on Oct. 1, 2016 and will end on Sept. 30.<\/p>\n

In its \u201cUpdate to the Budget and Economic Outlook: 2017 to 2027<\/a>\u201d published last week, CBO projected that total federal spending in fiscal 2017 will hit $4,008,000,000,000.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Is This The Generation That Is Going To Financially Destroy America? Did you know that the federal government is going to spend more than 4 trillion dollars this year?\u00a0 To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.\u00a0 So when […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15502,15503,15504,15505,14714,15506,29,7344,1035,195,15507,7346,9735,15508,15509,15510,14713,1782,15300,3461,15303,6069,15304,15306,6061,317,15308,341,364,7349,4901,6231,549,11187,15511,12720,15512,15309,15310,11188,15513,15514,11960,12026,11189,14726,15515],"class_list":["post-24437","post","type-post","status-publish","format-standard","hentry","category-economics","tag-20-trillion-dollars-in-debt","tag-a-debt","tag-about-debt","tag-accumulating-debt","tag-adding-to-the-national-debt","tag-any-more-debt","tag-apple","tag-cant-pay-debts","tag-cash","tag-debt","tag-debt-2017","tag-debt-bomb","tag-debt-ceiling","tag-debt-ceiling-crisis","tag-debt-ceiling-crisis-2017","tag-debt-limit","tag-debt-slaves","tag-debt-spiral","tag-debt-free","tag-debts","tag-depressions","tag-economic-collapse-blog","tag-economic-pain","tag-endless-debt","tag-financial","tag-financial-system","tag-forever","tag-future","tag-global-debt","tag-global-debt-bomb","tag-michael-snyder","tag-michael-t-snyder","tag-national-debt","tag-pay-off-debt","tag-paying-off-debt","tag-pile-of-debt","tag-running-out-of-cash","tag-shut-down-the-federal-reserve","tag-shut-it-down","tag-the-debt","tag-the-debt-ceiling","tag-the-debt-limit","tag-the-fed","tag-the-federal-reserve","tag-the-u-s-national-debt","tag-u-s-national-debt","tag-world-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24437"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24437\/revisions"}],"predecessor-version":[{"id":24438,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24437\/revisions\/24438"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}