{"id":66148,"date":"2023-11-15T07:49:50","date_gmt":"2023-11-15T12:49:50","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66148"},"modified":"2023-11-15T07:49:50","modified_gmt":"2023-11-15T12:49:50","slug":"doug-casey-on-the-imminent-bankruptcy-of-the-us-government","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66148","title":{"rendered":"Doug Casey on the Imminent Bankruptcy of the US Government"},"content":{"rendered":"
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Doug Casey on the Imminent Bankruptcy of the US Government<\/a><\/h3>\n<\/header>\n
\"Imminent<\/div>\n
International Man<\/strong>:\u00a0Everyone knows that the US government has been bankrupt for many years. But we thought it might be instructive to see its current cash-flow situation.<\/div>\n
\n

The US government\u2019s budget is the biggest in the history of the world and is growing at an uncontrollable rate.<\/p>\n

Below is a chart of the budget for the most recent fiscal year, which had a deficit of nearly $1.7 trillion.<\/p>\n

\"\"<\/a><\/p>\n

Before we get into the specific items in the budget, what is your take on the Big Picture for the US budget?<\/p>\n

Doug Casey<\/strong>:\u00a0The biggest expenditure for the US government are so-called entitlements. It\u2019s strange how the word \u201centitlements\u201d has been legitimized. Are people really entitled to the government paying for their health, retirement, and welfare? In a moral society, the answer is: No. Entitlements destroy personal responsibility, legitimize theft, destroy wealth, and create antagonisms.<\/p>\n

The fact is that once people have an \u201centitlement,\u201d they come to rely on it, and you can\u2019t easily take it away. The Chinese call that breaking somebody\u2019s rice bowl. In the case of the American welfare state, it\u2019s more a question of breaking a whipped dog\u2019s doggy bowl. It\u2019s a shame because many have come to rely on their mother, the State, not entirely through their own fault. The US has become pervasively corrupt.<\/p>\n

The World Economic Forum (WEF)\u2014a pox upon them\u2014isn\u2019t entirely incorrect when it arrogantly calls most people \u201cuseless mouths.\u201d An increasing number produce absolutely nothing but only consume at the\u00a0expense of others. Courtesy of the State.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Doug Casey on the Imminent Bankruptcy of the US Government International Man:\u00a0Everyone knows that the US government has been bankrupt for many years. But we thought it might be instructive to see its current cash-flow situation. The US government\u2019s budget is the biggest in the history of the world and is growing at an uncontrollable […]<\/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":[1361,1099,195,201,6227,12584,6228,827,843,14742,889],"class_list":["post-66148","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bankruptcy","tag-currency-devaluation","tag-debt","tag-deficit","tag-doug-casey","tag-government-spending","tag-international-man","tag-united-states","tag-us-government","tag-wef","tag-world-economic-forum"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66148","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=66148"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66148\/revisions"}],"predecessor-version":[{"id":66149,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66148\/revisions\/66149"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}