Aint Congress and the President just something else. They kicked the can down the road again. No guarantee that they will ever negotiate anything to pay off the national debt. Here are some figures I dug up for you guys to mull over. Federal Debt = $16.6 Trillion Total Federal Income from taxes = $6.1 Trillion Total Federal Debt 2014 = $18.2 Trillion Total Estimated Debt 2015 = $19.1 Trillion Total Estimated Debt 2016 = $20.0 Trillion Average Federal Interest on debt = $0.5 Trillion per year ( This figure is fudged by the government, it is actually $1.2 Trillion per year) Per cent of Federal Debt versus Private Capital Stock = 13 per cent We therefore have a $5 Trillion interest bill All revenue of 14 per cent or more will be sucked up by the National Debt iInterest Payments In other words, we are going to go under some day due to the weight of the national debt. The economy will just collapse under the cost and weight of the debt. If we do not go under, it will be because the government has raised the taxes by some 20 per cent above where they are now. There will be fewer jobs and less people working to pay that taxation. How do you like them apples folks? I did some research to find out these figures. We are gong to be worse off than any of the European countries if they get their acts together on controlling spending. Think it is time to get some of those establishment spend, spend Democrats and Republicans out of Congress?
Posted on: Sat, 19 Oct 2013 01:07:59 +0000
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