De VS mag dan wel het machtigste land ter wereld lijken, maar het is tegelijkertijd ook het armste land ter wereld, gezien de immense schuld dat het heeft. Via Globalcirclenet kreeg ik dit bericht:
'In the late 1990s and up to Fiscal Year 2001the federal government falsely claimed a budget surplus - yet debt increased each year faster than before -
- and for FY 2002, 2003, 2004 & 2005 debt was even higher - - dramatic pictures tell the story
The Grandfather Economic Reports is a series of picture reports of threats to the economic future of families and their children, compared to prior generations. You are now at the chapter on Federal Government Debt trends. Welcome. We hope your visit will find useful information to help you and your loved ones. (see report at http://mwhodges.home.att.net/ ).
This is page 1 of a 2-page mini-report about the high dependence of the economy on government debt, impacting families and the young, presented in an easy-to-understand format with 8 color pictures. (GIVE it a CHANCE to LOAD those neat color graphics)
Our younger generation is being loaded with a historic debt burden, caused by run-away consumptive social spending 1965 to present - with zero plan by the generation that created it to take the responsibility of paying it off.
Our generation has allowed a federal 'government credit card' to be used in a run-away manner, to avoid paying for the social spending excesses we allowed government to make - - and we intend to leave the credit card bill to our children and grandchildren to pay off - - lowering their future living standards compared to what it could and should be.
More than half of all federal debt was created in the 1990s, more & more owed internationally, on top of the 2 largest tax increases in history.
In fiscal year 2005 debt increased to $7.9 trillion. That's an increase of $554 billion, equivalent to an added $7,476 per family of four. Each prior fiscal year also had a higher debt than the year before.
How could they claim a surplus in the late 1990s and early 2000s and that they were paying down debt, when total debt increased every one of those years?
"I place economy among the first and most important of republic virtues, and public debt as the greatest of the dangers to be feared." -Thomas Jefferson to William Plumer, 1816.
You will see color graphics on debt dollars, debt per child, debt ratios, and a graphic showing the culprit - along with a short summary. Other graphics on page 2 will show interest costs, foreign ownership, international debt, a summary table of all national debt and a debt reduction plan.
8 QUESTIONS
DO OUR CHILDREN (and grandchildren) DESERVE to inherit an economy loaded with debt, as follows:
Which is the World's largest debtor nation, PLUS an internal federal government debt of $26,750 per child, (half of which occurred just in the 1990's,despite two record tax increases) - plus an additional $10,000 per child of international and state & local government debt?
Where federal debt in 1998, for example, was 80% of national income - - higher than 40 years previously when we were completing the World War II debt pay-off plus covering the Korean War, yet there were zero hot or cold wars in 1998?
Where today's federal debt ratio is double that achieved 20 years ago (meaning excess debt today of $3.6 trillion).
Where the federal government continually siphons-off all social security & federal employee pension surplus trust funds ($1.5 trillion to date) to spend on non-pension items (an illegal practice in all states for private pensions) - - which annually creates more debt pile-up on the back of our young generation, while hastening the day when even more debt (and reduced benefits) is required to cover retirement payments?
Loaded with debt, or be free-clear of $7.9 Trillion in federal government debt not created by themselves?
Where consumer debt payments as a percentage of disposable income are at an all-time high?
Where international debt is expanding at $600 billion annually, due to decades of negative trade performance, and foreign interests now own 44% (or $1.9 trillion) of our outstanding treasury bonds and notes - - double the amount owed just 4 years ago?
AND, is it fair to pass to them an economy where combined nation-wide government plus private sector debt ratio is twice as much as in 1957 (a $17 trillion debt excess to 1957 ratios)?
Does this make us proud ? Shouldn't we fix it, instead of passing it on to our children ?'
Lees verder: http://mwhodges.home.att.net/debt_a.htm
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