The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

The Prepper's Blueprint

Don't Buy Survival Food Until You Read This - If you stockpile the wrong foods, you could be setting your family up to starve. It sounds harsh, but the truth is too many people with good intentions are making critical mistakes with their food stockpiles. Watch this video now >>
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins

Archives

55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know

The future of the United States of America is being systematically destroyed by our politicians, but unfortunately most Americans don't really grasp exactly what is happening.  30 years ago, our national debt had just crossed the one trillion dollar mark.  Just recently, it crossed the 16 trillion dollar mark.  Prior to every election, politicians from both parties swear up and down that they will do something about our exploding debt, but it never happens.  Once again this year, our politicians are making all kinds of grand promises about getting U.S. government finances under control.  But they are also promising all kinds of new plans and programs which are going to cost a lot more money on top of what we are already spending.  For the average American, all of this can be incredibly confusing.  That is why I have put together a list of facts about the debt and U.S. government finances below.  These are things that every voter should know.  The federal government is stealing more than a trillion dollars a year from our children and our grandchildren, and they are spending that money in some of the most foolish ways that you could ever imagine.  We have accumulated the largest mountain of debt in the history of the world, but our politicians just can't help themselves - they appear to be absolutely addicted to spending money.  If we continue on the path that we are currently on, our entire financial system and our entire economy will be destroyed by all of this debt.  Time is running out and urgent action is needed to address this crisis.

Many of our founding fathers attempted to warn us about the dangers of government debt.  For example, Thomas Jefferson once said the following...

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Where would we be today if such an amendment had been added to our Constitution?

How much brighter would our future be if the federal government had been forced to only spend what it took in all these years?

Those are very good questions.

The following are 55 facts about the debt and U.S. government finances that every American voter should know....

#1 While Barack Obama has been president, the U.S. government has spent about 11 dollars for every 7 dollars of revenue that it has actually brought in.

#2 During the fiscal year that just ended, the U.S. government took in 2.449 trillion dollars but it spent 3.538 trillion dollars.

#3 During fiscal year 2011, over a trillion dollars of government money was spent on 83 different welfare programs, and those numbers do not even include Social Security or Medicare.

#4 Over the past four years, welfare spending has increased by 32 percent.  In inflation-adjusted dollars, spending on those programs has risen by 378 percent over the past 30 years.  At this point, more than 100 million Americans are enrolled in at least one welfare program run by the federal government.  Once again, these figures do not even include Social Security or Medicare.

#5 Over the past year, the number of Americans getting a free cell phone from the federal government has grown by 43 percent.  Now more than 16 million Americans are enjoying what has come to be known as an "Obamaphone".

#6 When Barack Obama first entered the White House, about 32 million Americans were on food stamps.  Now, nearly 47 million Americans are on food stamps.  And this has happened during what Obama refers to as "an economic recovery".

#7 The U.S. government recently spent 27 million dollars on pottery classes in Morocco.

#8 The U.S. Department of Agriculture recently spent $300,000 to encourage Americans to eat caviar at a time when more families than ever are having a really hard time just trying to put any food on the table at all.

#9 During 2012, the National Science Foundation spent $516,000 to support the creation of a video game called "Prom Week", which apparently simulates "all the social interactions of the event."

#10 The U.S. Department of Agriculture gave the largest snack food maker in the world (PepsiCo Inc.) a total of 1.3 million dollars in corporate welfare that was used to help build "a Greek yogurt factory in New York."

#11 The National Science Foundation recently gave researchers at Purdue University $350,000.  They used part of that money to help fund a study that discovered that if golfers imagine that a hole is bigger it will help them with their putting.

#12 If you can believe it, $10,000 from the federal government was actually used to purchase talking urinal cakes up in Michigan.

#13 The National Science Foundation recently gave a whopping $697,177 to a New York City-based theater company to produce a musical about climate change.

#14 The National Institutes of Health recently gave $666,905 to a group of researchers that is studying the benefits of watching reruns on television.

#15 The National Science Foundation has given 1.2 million dollars to a team of "scientists" that is spending part of that money on a study that is seeking to determine whether elderly Americans would benefit from playing World of Warcraft or not.

#16 The National Institutes of Health recently gave $548,731 to a team of researchers that concluded that those that drink heavily in their thirties also tend to feel more immature.

#17 The National Science Foundation recently spent $30,000 on a study to determine if "gaydar" actually exists.  This is the conclusion that the researchers reached at the end of the study....

"Gaydar is indeed real and… its accuracy is driven by sensitivity to individual facial features"

#18 Back in 2011, the National Institutes of Health spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.

#19 The U.S. government spends more on the military than China, Russia, Japan, India, and the rest of NATO combined.  In fact, the United States accounts for 41.0% of all military spending on the planet.  China is next with only 8.2%.

#20 In a previous article, I noted that close to 500,000 federal employees now make at least $100,000 a year.

#21 In 2006, only 12 percent of all federal workers made $100,000 or more per year.  Now, approximately 22 percent of all federal workers do.

#22 If you can believe it, there are 77,000 federal workers that make more than the governors of their own states do.

#23 During 2010, the average federal employee in the Washington D.C. area received total compensation worth more than $126,000.

#24 The U.S. Department of Defense had just nine civilians earning $170,000 or more back in 2005.  When Barack Obama became president, the U.S. Department of Defense had 214 civilians earning $170,000 or more.  By June 2010, the U.S. Department of Defense had 994 civilians earning $170,000 or more.

#25 During 2010, compensation for federal employees came to a grand total of approximately 447 billion dollars.

#26 If you can believe it, close to 15,000 retired federal employees are currently collecting federal pensions for life worth at least $100,000 annually.  That list includes such names as Newt Gingrich, Bob Dole, Trent Lott, Dick Gephardt and Dick Cheney.

#27 During 2010, the federal government spent $33,387 on the hair care needs of U.S. Senators.

#28 During 2010, U.S. Senators pulled $72,370 out of the "Senate Restaurant Fund".

#29 During 2010, an average of $4,005,900 of U.S. taxpayer money was spent on "personal" and "office" expenses per Senator.

#30 In 2013, 3.7 million dollars will be spent to support the lavish lifestyles of former presidents such as George W. Bush and Bill Clinton.

#31 During 2011, the federal government spent a total of 1.4 BILLION dollars just on the Obamas.

#32 When you combine all federal government spending, all state government spending and all local government spending, it comes to approximately 41 percent of U.S. GDP.  But don't worry, all of our politicians insist that this is not socialism.

#33 As I have written about previously, less than 30 percent of all Americans lived in a home where at least one person received financial assistance from the federal government back in 1983.  Today, that number is sitting at an all-time high of 49 percent.

#34 Back in 1990, the federal government accounted for just 32 percent of all health care spending in America.  This year, it is being projected that the federal government will account for more than 50 percent of all health care spending in the United States.

#35 The number of Americans on Medicaid soared from 34 million in 2000 to 54 million in 2011, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

#36 In one of my previous articles, I discussed how it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

#37 If you can believe it, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for each and every household in the United States.

#38 In the United States today, more than 61 million Americans receive some form of Social Security benefits.  By 2035, that number is projected to soar to a whopping 91 million.

#39 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.

#40 When Barack Obama first took office, the U.S. national debt was about 10.6 trillion dollars.  Now it is about 16.2 trillion dollars.  That is an increase of 5.6 trillion dollars in less than 4 years.

#41 The federal government has now run a budget deficit of more than a trillion dollars for four years in a row.

#42 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#43 If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#44 Some suggest that "taxing the rich" is the answer.  Well, if Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#45 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.

#46 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain does.

#47 At this point, the United States government is responsible for more than a third of all the government debt in the entire world.

#48 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#49 Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.

#50 The U.S. national debt is now more than 37 times larger than it was when Richard Nixon took us off the gold standard.

#51 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first created.

#52 The U.S. national debt jumped more on the very first day of fiscal year 2013 than it did from 1776 to 1941 combined.

#53 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent.  If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.

#54 A recently revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.

#55 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay.  Kotlikoff speaks of a "fiscal gap" which he defines as "the present value difference between projected future spending and revenue".  His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.

Please share this article with as many people as you can.  Time is running out to fix these problems.

Be Sociable, Share!
  • Vote No to B.O.!

    We can’t afford 4 more years of President B.O. – According to Michael Lombardi, financial expert and lead contributor to Profit Confidential, many Americans are experiencing inflation already when it comes to food prices and gas prices, and these rapidly increasing prices are not properly reflected in the Consumer Price Index (CPI) numbers, meaning real inflation is going to be a bigger concern than it already is for the U.S. economy.Lombardi argues that the prices of goods are increasing, because the U.S. dollar is depreciating faster than ever before. http://www.prweb.com/releases/2012/10/prweb10013859.htm

    • Swiaa Man

      You are absolutely right about concealed inflation rates, and its only going to get worse, but a choice is between 2 extreme deficit spenders!!!????

      There is no savior among politicians.

      Do NOT rely on politicians to save you, YOU MUST take action to save yourself.

      Hyperinflation is a local event. It does not affect foreign currencies. There are several brokerage firms (and fewer banks) that will still allow American clients to open accounts without traveling to the foreign firms office. Many are completely removed from the western worlds unstable banking system. We’re talking well capitalized firms operating in very solid, stable currencies. You could hold your cash there in the local currency, or sometimes have a choice between several currencies, or purchase shares in companies earning their revenue and paying dividends in solid foreign currencies. See swisssolution.webs.com

  • Winston

    OT
    You can get antibiotics off prescription.
    Google Fish-mox.
    Someone on another blog turned me on to it.
    Exact same formulation,same manufacturers,dosages etc,
    just relabeled for fish treatment.
    Vital for any prepper.

  • Anonymous Coward

    I’m not an US citizen, nor do I live in the US. But at least to me the list looks biased. It contains a lot of info about spending, completely disregarding the context.

    A dollar today is a lot less worth than it was 4 years ago, therefore I think that if you do the comparison based on purchase parity power you’ll note that the income of federal employees has not grown that much. OTOH, a state with badly paid employees is an easy target for corruption.

    Also, the Obama administration had to deal with the consequences of the huge financial crisis generated by the lack of regulations during the two previous Bush mandates. It’s always very easy to destroy, but very hard to rebuild.

    Another disregarded fact is that all developed countries, not just the US, had problems of all sorts over the last three years. The US at least seems to be out of the woods, whereas Europe still struggles.

    Last but not least, at the end of the Bush Jr. presidency, the US was extremely badly seen throughout the world, specifically because of the huge military impact of the US accompanied by extremely bad diplomatic performance. This is completely different now.

    The huge military spending of the US is not something created by the Obama administration, it’s inherited – during the Bush era, the military spending was even larger than it is today. Cutting it too fast would cause another social shock – lots of soldiers would suddenly become unemployed, and much of the military technology of the US would land on the black market and end up in the hands of terrorists. Do you really want that? That’s why the military spending has to be reduced gradually, over maybe more than a decade, and a significant reduction cannot be achieved by a single president in just four years. OTOH, a republican president would increase military spending, maybe even start a new war – historically, that’s how republicans always act.

    I don’t mean to say that Obama’s presidency was rightout ideal. What I mean is that you can’t look at things in a simplistic way, and given both historical data and the context in which Obama had to act, I think his performance was better than any of the republican presidents the US had over the last few decades. Indeed, the last really good president given by the democrats was Clinton, but he acted in a completely different context – the world economy was growing, international relations of the US were OK, the cold war was just over, he didn’t have a debt crisis on his hands and didn’t inherit an extremely costly military operation abroad.

    • http://www.facebook.com/wayne.chipman.7 Wayne Chipman

      What kind of Government Kool Aid are You on.

      • Non-koolaid drinker

        His first sentence explains it all.

  • http://www.fredperry-pascher.com fred perry polo

    Absolutely right. Going green is the future in every sense. Because if we don’t go green, then there might not be a future at all.

  • http://www.fredperry-pascher.com polo fred perry

    Thank you for the post, I found it very thorough. After the next five years, do you see a majority of countries embracing (costly) alternative energy, in spite of the developing economic landscape?

  • http://www.moncler2012outlet.org moncler outlet

    stock markets are not as easy to predict, because it takes a lot of statistical analysis, to improve it, so you have to know how it analyzes, and according to the analysis, taking the best measures of the case.

  • http://www.jacketxxl.org moncler sale uk

    The optimism you express in the article seems a little premature if for no other reason that so far the overall economic news is only less bad than previously.

  • http://www.doudoune-outlet.net blouson moncler outlet

    Absolutely right. Going green is the future in every sense. Because if we don’t go green, then there might not be a future at all.

  • Haresh Patel

    The private sector is many times worse in spending habits than the government. Look at 100 million dollar sport contracts, what Kardasians, Gaga, Hilton are pulling in. Look at all the billions the fraudsters in the financial industries are racking in with impunity and you won’t too bad about the Government spending.

  • Bruce

    Time is NOT running out, it has run out!!!!!!!!!!

  • Floyd_Lloyd

    Referencing #20, about th U.S. spending more on the military “than China, Russia, Japan, India, and the rest of NATO combined”, how many European countries don’t even have militaries, or have token militaries, because the U.S. provides for their security via our bases around the world? How many countries, like post war Japan for instance, have had booming economies because they don’t have any military spending thanks to the U.S.’s protection? Even Israel, who has a top notch military, relies on the financial aid of the U.S. in both funding and equipment. And we remain forever the bad guy.

  • RealTalkNOchaser

    yeah now run the same reports for when Bush was in office!!!1

  • nico

    even selling the white house, capitol hill, and the whole washington DC can’t pay for all that.

Emergency Essentials/BePrepared
Agora Financial
Thrive Life
FEMA Hates This

Austin Coins
Family Survival Plan - Check This Out!
The End Of America?
MHAdNew_125x125 copy(1)
End Game Economics
FINCA BAYANO
Survive After Collapse
cheaper to burn dollars than paper
Facebook Twitter More...