For all you pinheads who have never given any thougth to the precarious position we live I hope this little diatribe will help you.
First the national debt is not what Obama spews or $20trillion of which he is PERSONALLY responsible for $10trillion. Something to be REAL proud of!!!
Back in the 80’s the Feds needed money so they put an “IOU” in the treasury for Social Security and Medicare to the tune of $44trillion, so our actual debt is more like $64trillion, not 20.
Okay, debt by its very definition suggests you plan to pay back the monies owed. Any ideas how we are going to pay this money back? Any ideas whatsoever? Just make guess. Well here is the REAL STORY.
This is the Obama debt bomb… a little light on debt but accurate.
Debt can only be paid off 3 ways: 1.) you pay the amount borrowed off like on dows a mortgage, 2.) print money so fast you deflate the dollar. If I give you a dollar today and it is worth 100 penny’s, but in 5 years it is only worth $0.50, then you paid the loan back, but you did so with cheaper money thus you actually made money… and 3.) bancruptcy. I can’t see how we could realistically do items 1 or 3 leaving only item 3 as a solution. I am of the opinion, Obama is secretly imploding the country so he can “shag” he debt by paying back the debt with lower dollars.
And the insidious part of all this, must like the trust thing we’ve talked about” is that the next time you need money you are not going to be responsivle. If we file bankruptcy, as long as you are gainfully employed and keep working hard but you must be vigilant.