Thread: Total U.S. government liabilities far exceed total assets of all Americans

Total U.S. government liabilities far exceed total assets of all Americans

• 2 hrs ago

When Congress returns from yet another of their extended vacations, one of the responsibilities they will likely sidestep is the federal debt ceiling.

While the ceiling itself has essentially become a charade, the money spent and owed by government is of very real financial consequence to American citizens — and the world at large, for that matter.

Equally important, without money, none of the government’s unconstitutional bullying is possible.


Politicians often mask the abdication of their fiduciary duties by claiming to have passed a “budget.” Even that fiction was abandoned during Obama’s rule.

A budget is defined as “an itemized summary of estimated or intended expenditures for a given period along with proposals for financing them; a systematic plan for the expenditure of a usually fixed resource, such as money or time, during a given period” (TheFreeDictionary.com).

When we use the term “budget” in reference to business or our families, the application is the allocation of expenses/spending priorities so that they do not exceed income.

In order to spend more than we make in any given period (e.g., the expansion of a business or the purchase of a home), we must borrow money based on the ability to repay it, plus interest, over time.

If there is no demonstrable proof of the ability to repay it, we must forego the excess spending.

If we commit to the repayment and later are unable to uphold the payment plan, the asset is repossessed and/or we are forced into bankruptcy.

Obviously, politicians do not bind themselves to such constraints.

The billions of dollars in increased deficit spending — including the 40 percent of Tennessee’s “budget” from federal “transfers”, i.e., deficit spending — double-counting, increased fees/taxes and wasteful/unconstitutional spending illustrate politicians’ aversion to legitimate budgets.

Politicians lust for spending plans. They plan to spend and spend and spend without end.

Nowhere in the recent annals of Congress has there been any realistic plan to balance expenditures and debt with a feasible plan of repayment.

The reality is politicians have no plan to repay — or even reduce — the current $20 trillion “official” deficit, much less the $44 trillion in unfunded Social Security and Medicare liabilities, or the additional $107.1 trillion in other unfunded liabilities (see www.usdebtclock.org).

That doesn’t even factor the other houses of cards (e.g., unfunded pension plans), much less the fact that the total government liabilities far exceed the total assets of all Americans.

The truth is, like a business or a family that has no viable repayment plan, the federal government already cannot get enough in legitimate loans to fund this ongoing fiduciary tsunami.

That is why the Federal Reserve has churned out untold trillions of dollars unsupported by economic activity as they “buy” federal government debt obligations.

Think of it as a game of Fed Monopoly with no rules for taking money from the bank — only, the bankers, crony-capitalists and politicians keep the cash and we get stuck with the bill.

As demonstrated at both the federal and state levels, Establicrat politicians continue to spend our economy (i.e., our families’ livelihoods and security) toward bankruptcy and collapse.

They do so with the primary assumption that the vast majority of the citizens — the ones who will eventually pay the devastating consequences of a government that engages in irresponsible deficit spending without consideration of repayment (e.g., inflation, collapse of legitimate government, social unrest) — are either not paying attention or are stupid.

Despite a few transient spikes of awareness, unfortunately, both assumptions appear to be born out by the non-response of most Americans to the politicians’ ongoing malfeasance.

While Establicrat spending plans increase overall spending in each of the coming years, the values of the Establicrat Party are clearly reflected in the details of where money is both spent and not spent.

One of many examples is the despicable disservice to the members of the military despite their serving at great sacrifice and to whom definitive promises were made.

The Establicrats repeatedly cut military readiness and benefits — including denying medical care to dying veterans.


Perhaps veterans and their families would be more understanding of this additional sacrifice if it weren’t for the fact that the Establicrats also created government benefits for illegal aliens.

When it comes to choosing between supporting our servicemen and women and their families and other hard-working Americans versus supporting pork and payoffs, politicians typically choose the latter.

It is fair to say one of the main reasons the political and media Establishment so despise the Tea Party is that prior to the Tea Party movement, there was no sustained grass-roots effort focusing attention on the actions (versus rhetoric) of politicians.

Politicians could “vote for it before they voted against it” — especially regarding cloture and committee votes — then publish campaign propaganda claiming whatever position “polled best.”

For example, our own senators, congressman, governor, state senator and representative are quick to tout their opposition to unconstitutional programs like Obamacare and their theatrical votes in opposition, yet repeatedly vote to fully fund the implementation of such programs.

It is not unfair to say they are against unconstitutional spending unless they are for it.

If politicians would abandon the charade that they can continue to recklessly spend without destroying our nation; eliminate every single program, law and regulation not supported under the enumerated powers of the U.S. Constitution; and restore the liberties they have stolen from the American people — then Americans might be able to grow our way out of the current morass.

However, if politicians continue to violate their oath of office and push the deficit/unfunded liabilities cliff higher and higher, when we do finally shoot off the inevitable edge, economic gravity will have its way.

Our nation, as we know it, may not survive the fall.

Call our elected officials; let them know you’re on to their machinations and will hold them accountable.

http://www.parispi.net/opinion/colum...5376ed9d8.html

Just me, but I believe this unbelievable debt is the biggest threat to our country.

We need to stop all the stupid giveaways -