The American Whore consists of all 330 million of us. We hate taxes; we hate when “the other guy” gets handouts, but we demand handouts for ourselves. The joint greed of all of us has created The American Whore. If you throw money at us, then politicians can do whatever they please, and we will lay still and we will love you for it, except when you give more to the other guy.
Obama blamed Bush for the massive Debt build up. Trump lambasted his predecessor, Obama, for the debt build up. Biden blames Trump for this debt. And We the People, the 330 million American Whores stand idly by waiting for our hand out.
We preach capitalism but can never survive to our standard of living with capitalism alone. Ever since 1913 Capitalism has eroded. When President Woodrow Wilson signed the law creating the US Central bank, known as the Federal Reserve Bank (FRB), it was an admission that Capitalism will not work the way it was conceived. Sure, you get the economists of our time, preaching how great American Capitalism is. But then why don’t they let Capitalism prevail? Answer: Capitalism will not produce sufficient economic vitality.
If not for the corrupt manipulation by the FRB (which most Americans are totally clueless about) which pumps billions, if not trillions, of dollars into our annual economy, our economic production would be far inferior to today’s standards. And this would not be a bad thing. Without the US government Debt build up-which will never be repaid-prices would be half of what they are; people that have 2 or 3 homes and many luxuries of life may have one home, less luxuries and more basics-but the young couple starting out today would likely be able to afford their first home.
As it stands now a couple starting their adult lives usually cannot afford to buy a home in most cases. But that is ok, as long as we have mega millionaires/billionaires who profit from corrupt manipulation of our economy by the FRB and US Treasury by borrowing for debt never intended to be repaid. And those in the lower economic classes are taunted for the handouts they want, when it is the upper echelon that reap far more social program benefits than the lower class.
Here’s the harsh reality. Just examining the last 10 years or so. The US Government added about $1 trillion in debt, per year-even more during the Covid years. WHY? To stave off economic chaos. This $1 trillion in annual debt increase equates to about 4 percent of the US economy (based on 2021, $23 Trillion in Gross Domestic Product). And since our economy grows perhaps at about 4% per year, in many years, we would have no economic growth
Recall the night (November 2016) that Donald Trump was about to win the presidency. Based on his campaign interview, with Leslie Stahl, of cutting the National Debt, the Dow Jones premarket price fell by about 800 points. That is because the Wall Street tycoons were afraid Trump would actually follow through on his debt cutting promise, being that he had practical business experience etc. But it was merely an aberration. Trump quickly realized he did not want his legacy of debt cutting to be associated with the ”R” word-Recession. But that is exactly what debt cutting would do-and rightfully so. It would plummet the US economy into Recession.
However, the logical way to look at it is not a Recession, but it would recapture the excesses we all benefited from with the increases in US Debt. All the excesses of growth the FRB created from printing “Monopoly ®” money etc.
Let’s look quickly at a few examples of how people actually characterize this government spending of “your fault, not mine”. On 5-11-2022; at 7:20 am (Radio 770 AM)-Mark Levin castigated “present politicians” for putting our country into debt it will never repay. Yet he ignored a main instigator of TAW. Levin used to work for-President Ronald Reagan. Reagan, as one would know with some simple research, is the only US president to triple the National Debt since WW2. National-Debt-increase-by-President.pdf (nxcli.net)
Reagan threw money (hundreds of billions of $$$$) at Americans, especially Defense Contractors, to stimulate the American economy. Sure, TAW loved Reagan. He gave many free money, which people 100 years later will still wonder how it will be repaid. About ¾ of Reagan’s economic stimulus was this debt build up that will not be repaid. So, I guess we can name Ronald Reagan a True American Whore winner. But the main point here is that no one takes blame for the Debt; we only want our share and “F” anyone else who stands in our way.
Then let’s visit Jon Stossel and his Tweet: https://twitter.com/JohnStossel/status/1522651912977494018
“Corporate welfare is everywhere, but farmers get special deals. They say they need handouts to ensure that America has a stable food supply, but that’s bunk.”. Again, the point Stossel makes is the same as above in that the big corporate farmers only want our share and “F” anyone else who stands in our way.
The Congressional Budget Office, the agency charged with trying to keep Congress informed of the Debt “problem” projects the National Debt to be about 195% of the US Gross Domestic Product (GDP) by 2050. https://www.cbo.gov/publication/57038#:~:text=In%20current%20estimates%2C%20federal%20debt,to%20195%20percent%20in%202050. As of 2022 the National Debt was about 129% of the GDP.
So as America chugs along with each political party blaming the other for the National Debt, it is evident that future generations will piss on our respective cumulative graves for being The American Whore and leaving them to clean up our mess. But that is ok, just if we, The American Whore, keep getting our handouts.