For the most detailed
real time snapshot of the country's balance sheet, US Debt Clock.org
has eye opening figures that our Government, and individuals, must
confront. Click here to go there.
For the most accurate
daily accounting of the public debt, The Bureau of the Public Debt,
United States Department of the Treasury, generates the Public Debt
Outstanding for the previous day which is posted daily to their website at Treasury Direct.gov by 3 PM. Click here to go there.
Proverbs 22:7 (KJV): “The rich ruleth over the poor, and the borrower is servant to the
lender.”
At the end of the U.S. Government's 2010 fiscal year on September 30, 2010 this is who they owed
the money to:
•U.S. individuals and primarily, U.S. banking institutions, which includes the Federal Reserve
(owned by the banks), pension funds, retirement plans, etc. 42.1%
•Social Security Trust Fund 17.9%
•All other foreign nations 11.7%
•China (and Hong Kong), 9.5% The Federal Reserve's debt holdings were approximately
7.1%, which indicates that the U.S. Federal Reserve owns less of the U.S. National Debt than China
does.
•Japan 6.3%
•U.S. Civil Service Retirement Fund 6.0%
•United Kingdom 1.4%
•U.S. Military Retirement Fund 2.1%
•Oil exporting nations 1.6%
•Brazil 1.3%
According to the
Congressional Budget Office the fastest growing portion of the U.S.
National Debt is the interest on the National Debt.
Digital clock courtesy of http://oilprice.com/
The U.S. National Debt
marches on, growing in cadence with the steady and relentless pulse beat
of time.
The U.S. National Debt
is now in the trillions of dollars. This is how $14 trillion dollars is
expressed in English speaking countries:
$14,000,000,000,000
The U.S. National Debt has continued to increase an average of $4.08 billion per day since September 28, 2007. (Click on link for updated figures.)
Based upon that average and rounding to the nearest dollar the National Debt has increased:
Every Second: $47,222 (47 thousand, 222 dollars)
Every Minute: $2,833,333 (2 million, 833 thousand, 333 dollars)
Every Hour: $170,000,000 (170 million dollars)
Some of you have to work
an entire year to earn $47,000. Some of you have to work an entire year
to earn half that amount. Others, of course, may earn more. But it
certainly puts money matters into perspective, doesn’t it?
The Congressional Budget
Office predicts budget deficits of $768 billion annually for the next
10 years.
Because of increasing
government spending, government debt and interest rates, plus out of
control household debt, total government, consumer and business debt
exceeds our GDP.
Because our factories
keep shutting down, and jobs are shipped overseas, we have more and more
unemployed Americans. And they stay unemployed longer.
As the value of the U.S.
dollar continues to decline, the Federal Reserve prints more and more
money, causing inflation.
As a result, Federal,
state and local governments are bankrupt and we can expect a great
economic collapse.
With this collapse of
the dollar, the dollar will be valued near zero, which will cause a
depression in the U.S. and economic turmoil globally. Investors will
seek other currencies to replace the dollar, which will drive up
interest rates.
The dollar may not
collapse as China, Japan and other nations who trade in dollars, know
it’s not in their best interests. Not at the moment, that is.
However, the dollar will
continue to decline and the U.S. National Debt will continue to grow
and accelerate beyond the amounts stated above.
It is generally
acknowledged that it is impossible to pay for this huge amount, and that
it will be passed on to our children and grandchildren. Which will
destroy their economic future.
Would you want to have inherited such a burden from your parents?
I said elsewhere that
authority and responsibility are opposite sides of the same coin. If you
have been given authority, then you are responsible for using that
authority. Likewise, if you have been given responsibility, then you
have the authority to see that it’s done.
For decades, Americans
have been lax in using their authority and responsibility, as defined in
the U.S. Constitution, in electing and policing those elected. As a
result America’s political system has become corrupted.
Today, in the world of
truth, we have only one political party composed of several different
entities. They put on a grand show for the American public, with
campaigning, advertising, slander of opponents, attaching labels to
themselves of Democrat, Republican or Independent. Reports of which are
all duly edited, censored and controlled by the mainstream media, which
is, in reality, a part of the one political party. With all of the
activity that goes on with an election Americans say to each other,
“Yes! Democracy is working! Just look at what’s being reported by the
media!” and feel a sense of satisfaction that they are part of “their”
party, which, for them, is the only right choice.
However, in reality, it
really doesn’t make any difference who is elected, does it? This massive
unified political structure of different labels and the mainstream
media continues to dutifully orchestrate and choreograph every move of
the professional politicians and their common agenda. Regardless of how
they identify themselves.
Those who oppose this
one party system are quickly slandered, vilified and discredited by the
mainstream media branch of the one political party. Aren’t they?
The blame for our
corrupted political system and economic disaster must be placed squarely
upon the shoulders of the American voters who have allowed elected
officials to let things get to this state. By not utilizing their
Constitutionally granted authority and accompanying responsibility. In
the broad scheme of things, is a one world economy and a one world
government more of a reality in the not too distant future? And then a
one world religion?
We, the people, voted
these people in. We, the people, must vote for those who will repair our
broken political system.
Our country very badly needs as its President a person who is a:
Patriot
Visionary
Servant leader
Manager and
Motivator
And it should go without
saying that this person must embrace the principles and values of true
biblical Christianity.
Those we elect to
represent us must operate in the spirit of these characteristics. Those
who do not must be voted out.
If we don't then we must
learn to be content to let the rich rule over the poor, and to be
servants to the lenders.
What are you going to do for your children, your country and your conscience?
