The Economic Chart That Kills…DW Ulsterman

[mystery-ak]

http://ulstermanbooks.com/economic-chart-kills/

Just a few media outlets are reporting on this chart, and none are via the Mainstream Media. As the Obama administration makes claims of a better economy, and more jobs, etc., this chart shows what some view as an outright war upon the United States by those too willing to spend ourselves into oblivion. Certainly there is plenty of blame to go around for both political parties, but the fact remains that it has been Democrats and particularly the Obama administration that has pushed deficit spending to levels that could easily lead to the destruction of our current system.

There are readers here who have suggested this years ago. Your concerns are now proving increasingly accurate. We are all in trouble – very big trouble.

 

As for what can be done about the insanity this chart so clearly proves…I simply don’t know at this point.

 

The above graph reflects an overall increase in the national debt of 70% in just the last six years. The United States is now easily on its way to 20 TRILLION dollars in debt by the time Barack Obama leaves the White House and America in tatters.

 

Many have called it irresponsible. To that I say no, this goes far beyond mere irresponsibility.

 

It is an assisted suicide being played out on a national scale.

 

Pray.

Posted byulsterman
January 3, 2015

[Free Vulcan]

The bigger story was quietly reported a month or so back - we are having to sell new debt to retire old debt because we don't have the cash flow into the Treasury anymore to retire it outright.

When you're paying one credit card with another, that's called the Beginning of the End. There are no good roads or painless choices from there.

[MACVSOG68]

Interestingly the US dollar keeps climbing in comparison to most other currencies.  Right now buying US debt by converting foreign currency is a smart move.  And so far, no one has taken US debt because the US is unable redeem a treasury bond.  They see it as a safe investment amid the chaos of world currencies, and fears the stock markets cannot continue at this rate.

But I agree that this continuing growth of debt must be reversed.  Perhaps the new Congress will address it.

[truth_seeker]

Radically reduce the discretionary spending, reduce entitlements, or just give speeches.

Go back and check the number of cabinet departments Reagan closed. Zero.

Tampering with 'Social Security was part of the radical fall in GW Bush's approval.

American voters don't want, what needs to be done. Even the best politicians don't want the risk.

[Fishrrman]

MAC wrote above:
[[ But I agree that this continuing growth of debt must be reversed.  Perhaps the new Congress will address it. ]]

No one's going to reverse it.
Certainly not the democrats.
Nor the Republicans.

Look at the graph above.
With the democrats, the debt will soar upwards and the line will rise at an angle of 30 degrees.
With the Republicans in control, the angle might decrease to 25 degrees. But still going upwards.

None of them will lift a finger to bend it back downward towards reality.

There IS a finger that is going to do that, however.
It belongs to "the invisible hand" some guy wrote about a couple hundred years' back.

The only question now is, when is that "hand" going to apply the pressure?

[MACVSOG68]

MAC wrote above:
[[ But I agree that this continuing growth of debt must be reversed.  Perhaps the new Congress will address it. ]]

No one's going to reverse it.
Certainly not the democrats.
Nor the Republicans.

Look at the graph above.
With the democrats, the debt will soar upwards and the line will rise at an angle of 30 degrees.
With the Republicans in control, the angle might decrease to 25 degrees. But still going upwards.

None of them will lift a finger to bend it back downward towards reality.

There IS a finger that is going to do that, however.
It belongs to "the invisible hand" some guy wrote about a couple hundred years' back.

The only question now is, when is that "hand" going to apply the pressure?

It really started with Reagan.  Everyone gave him a pass because he had to rebuild the military...and he cut taxes.   It continued with Bush-43 and he got a pass because he had to fight a war...and he cut taxes. 

It really got its second wind with Obama, but he doesn't get a pass.  Now many just want to turn it all around by next weekend.  We all wanted the Reagan spending and we didn't really have a problem with the Bush-43 spending as long as we got the tax cuts.  Well, guess what?  Either this generation starts seriously cutting the deficit and then reducing the debt, or we hand it off to yet another generation, and another after that.

One way or another, after all the spending cuts the GOP can muster, just like the average citizen with more debt than he can handle, Uncle Sam will need more revenues.  It ain't gonna come just from growth.  Sooner or later, the people are going to figure it out.