The United States of America via both houses of Congress has gone on a 15 trillion dollar and counting spending binge in the past 30 years.
Very SOON the sheer weight of the interest on the interest payments on our national debt will become untenable leading to a GLOBAL financial collapse. Using the current monetary system there is ZERO mathematical possibility of the Western Democracies being able to repay the current fiscal debt.
Democrats always blame the Republicans and the Republicans point the finger right back at their counter parts, but the truth is if the Democrats or the Republicans desired at all to stop or even curve the run away debt spending they could have done it.
Together, the Democrats and the Republicans will be vilified for the dark ages that loom over this impending monetary crisis. The economic pain will have global implications.
1) After, Barack Obama entered the White House, the U.S. national debt has increased by an average of more than $64,000 per taxpayer.
2) Barack Obama will become the first president to run deficits of more than a trillion dollars during each of his first four years in office.
3) During the Obama administration, the U.S. government has accumulated more new debt than it did from the time that George Washington became president to the time that Bill Clinton became president.
4) Today, the government debt to GDP ratio in the United States is well over 100 percent.
5) It is being projected that the U.S. national debt will surpass 23 trillion dollars in 2015.
6) Mandatory federal spending surpassed total federal revenue for the first time ever in fiscal 2011. That was not supposed to happen until 50 years from now.
7) The U.S. government has total assets of 2.7 trillion dollars and has total liabilities of 17.5 trillion dollars. The liabilities do not even count 4.7 trillion dollars of intragovernmental debt that is currently outstanding.
8) If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for last year would have been 5 trillion dollars instead of 1.3 trillion dollars.
9) The Federal Reserve purchased approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.
10) The official government debt figure does not even account for massive unfunded liabilities that the U.S. government will be hit with in the years ahead. According to Professor Laurence J. Kotlikoff, the U.S. government is facing a future "fiscal gap" of more than 200 trillion dollars.
There is a reckoning coming the likes of which no one except the Globalist NWO Elite are prepared for.