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Protect Yourself: FutureMoneyTrends.com/Obama2015
Transcript
11.5 Million Americans have left the work force since 2009, we have fewer Americans working than in the year 2000, despite a population increase of 31 million people. Yet, due to data massaging from the BLS, we have a falling unemployment rate, even as the U.S. is spending more on Welfare than ever before.
In a recent report published by Robert A. Moffitt, a professor of economics at John Hopkins, it was noted that welfare spending has shifted to married parent families earning up to $47,700, increasing government dependence and further expanding the welfare class.
In the year 2000, 17 million Americans were enrolled in the U.S. food stamp program, today that number is 46 million. According the Congressional Budget Office, interest payments on our debt will take up 36% of the budget in 2030, 58 percent in 2040, and 85% in 2050.
However, these projections assume that rates will stay relatively low for the next 3 decades! In fiscal year 2014, the U.S, paid out $431 Billion in interest payments, this includes U.S. treasury bonds, social security debt, other U.S. bonds.
During the same period the U.S. have revenues of about $3 Trillion, with 1.7 trillion of this number coming from income taxes, putting U.S. debt interest payments in fiscal year 2014 at 14% of total revenues, and 25% of all income tax receipts. In 2014, the U.S. grew its revenues from $2.8 trillion to $3 trillion, a net gain of $200 billion, however, our national debt grew by nearly $500 billion. More than 2X the rate of U.S. total revenues.
CBO is projecting by 2024 the U.S. will have revenues of $4.8 Trillion, with every single year, our national debt burden rising by more than double. The CBO expects trillion dollar deficits to return by 2022, however this is assuming, the U.S. won’t have a new war or a financial crisis.
The U.S. hasn’t been able to go without a new war for more than a few years, and another financial crisis is almost certainly in the certainly in the cards. Instead of including realistic projections, the CBO actually factors in…
- Economic Growth
- Higher tax revenue as a result of economic growth
- And are you ready for this…Budget Cuts
Currently 24% of spending goes to Social Security, 22% to Medicaid, and Medicare, and another 12% to welfare programs, 8% to Federal pension plans, 7% to service our debt, and 20% to U.S. defense. Leaving about 7% of spending for education, transportation, and other federal programs.
***Tire Screeching***
Wait, debt service is 7% of spending, but didn’t we just say earlier that debt service was 14% of incomes, yep we sure did, you see you have to remember, that even though the U.S. grossed $3 trillion in actual revenues, it’s still spent about $3.5 trillion.
All the more reason to see that the CBO is being reckless when they project ANY cuts out of Washington D.C. Despite forecasting economic growth, the CBO continues to use historically low interest rates when making annual deficit and interest payment projections. Further adding to a false projection of our future.
With the manipulation of our inflation rate, GDP, unemployment, and interests rates, we seriously doubt that anyone can accurately project the future of the U.S. However, we can use some basic arithmetic, at $18 trillion in debt with a 2.5% interest rate, the interest on our debt is $450 billion
When our debt in just 4 years crosses $20 trillion, the interest will be $500 billion, assuming the U.S. can still borrow at ultra low interest rates, if this rate rises to even 5%, the U.S. is looking at $1 trillion in interest payments. A rate closer to a historical norm puts this annual interests payment at 1.5 trillion. Our interest will now significantly balloon our national deficit and pile on top of our already unsustainable debt.
What happens when our deficits and interest payments explode?
- 401k Nationalizations…
- Higher Taxes…
- Socialism…
- Class Warfare…
- Civil Unrest…
- Loss of Property Rights…
- The End of America
Which is why I have personally taken my money out of the banking system, safely and securely with businesses that have been helping the worlds wealthiest individuals for centuries. You have to government proof your money now, before a crisis erupts…
After discovering that Ex-CIA Director, the Clinton’s, Vice President Biden, and the worlds largest corporations were exiting the U.S. banking sector, we realized we had to get this information to the public, to learn more immediately, visit FutureMoneyTrends.com/Obama2015
