On March 15 our government will be locked in by law to the debt ceiling of $20 trillion.
Our debt now is at $19.850 trillion. We as a nation have very little in reserve funds. We have a House, Senate and deep administration state that will not deal with the real life facts that we must deal with. Our nation is flat broke. No and or buts about it. We have no long term money left.
Our debt is now 104% of our GNP. Our “mandatory” spending is about 60% of the total budget and the Military takes up about 55% of the discretionary spending.
Our debt payment now is being paid at ZERO%. Can you think of what might happen if our rates go to 10 or 15% as will happen when the Fed is forced through market forces to let “real interest rates” take over?
The answer is that most of our discretionary spending will be gone to the international bankers and that cost will be so high that we will not be able to raise the debt ceiling do to that extra cost.
Can you not understand that all federal help, block grants and funding will stop and that the states and people will be out in the cold? No federal money for roads, schools (college grants), law enforcement and disaster aid, etc.
On March 15 this new American world starts and we are looking at a 50+% chance of stock market falling much worse than they did in 2008.
Are you ready? Is our county ready, is our town ready? No one knows what will happen, but we do know one thing and that is it’s about to get much worse before it gets better; if it ever does.
I would ask our town, county officials and law enforcement to get ready over the rest of this year because life in the USA is about to get very busy. Please do your fiduciary responsibility!. Please make the plans necessary that we will need to make it through our next 1929.