{"id":8363,"date":"2015-05-22T05:56:18","date_gmt":"2015-05-22T10:56:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8363"},"modified":"2015-05-22T05:56:18","modified_gmt":"2015-05-22T10:56:18","slug":"it-is-mathematically-impossible-to-pay-off-all-of-our-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8363","title":{"rendered":"It Is Mathematically Impossible To Pay Off All Of Our Debt"},"content":{"rendered":"

It Is Mathematically Impossible To Pay Off All Of Our Debt<\/a><\/h3>\n

Did you know that if you took every single penny away from everyone in the United States that it still would not be enough to pay off the national debt?\u00a0 Today, the debt of the federal government exceeds\u00a0$145,000<\/a>\u00a0per household, and it is getting worse with each passing year.\u00a0 Many believe that if we paid it off a little bit at a time that we could eventually pay it all off, but as you will see below that isn\u2019t going to work either.\u00a0 It has been projected that \u201cmandatory\u201d federal spending on programs such as Social Security, Medicaid and Medicare plus interest on the national debt will exceed total federal revenue by the year 2025.\u00a0 That is before a single dollar is spent on the U.S. military, homeland security, paying federal workers or building any roads and bridges.\u00a0 So no, we aren\u2019t going to be \u201cpaying down\u201d our debt any time in the foreseeable future.\u00a0 And of course it isn\u2019t just our 18 trillion dollar national debt that we need to be concerned about.\u00a0 Overall, Americans are a total of\u00a058 trillion dollars<\/strong>\u00a0in debt.\u00a0 35 years ago, that number was sitting at just 4.3 trillion dollars.\u00a0 There is no way in the world that all of that debt can ever be repaid.\u00a0 The only thing that we can hope for now is for this debt bubble to last for as long as possible before it finally explodes.<\/p>\n

It shocks many people to learn that our debt is far larger than the total amount of money in existence.\u00a0 So let\u2019s take a few moments and go through some of the numbers.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

It Is Mathematically Impossible To Pay Off All Of Our Debt Did you know that if you took every single penny away from everyone in the United States that it still would not be enough to pay off the national debt?\u00a0 Today, the debt of the federal government exceeds\u00a0$145,000\u00a0per household, and it is getting worse […]<\/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":[195,286,536,954,549],"class_list":["post-8363","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-exponential-growth","tag-money","tag-money-supply","tag-national-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8363","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=8363"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8363\/revisions"}],"predecessor-version":[{"id":8364,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8363\/revisions\/8364"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}