…we can’t afford to pay our bills. And I’m not referring about the many American households who have difficulty paying their monthly bills. I’m writing about our US government. From about third grade on the teachers, parents and others would preach that America is the greatest. That is to be expected-pride in one’s country.
But when you analyze exactly what the “great” is referring to, it makes you wonder? But I’m only focused on America’s financial health, or lack thereof. Obviously, the U.S. Government is the biggest contributor to the American economy, annually spending way past $6 trillion these days.
And when you spend all those trillions of dollars you obviously have a main impact on the overall economy. The problem is what American government spends is money they do not have. When one looks at the US Gross Domestic Product (GDP) everybody thinks that America is so great and that we flourish economically. But when you look at the chart related to this Article, you’re going to notice something very disappointing.
For the first 22 years in this century the analysis is quite gloomy. For 15 of those 22 years, we had no increase in the GDP if you removed the debt that the US government borrowed, because there is no intent to repay any of the added debt. Even more horrific, once you remove the increased US Debt for each year, this century, there’s only ONE year the US GDP increased by more than 2%. One might say, “Well doesn’t government always borrow”? Of course, all governments borrow money. But that borrowing should be associated with the intent to repay.
America has a phony economy, a phony GDP because the extra trillion or so, on average, that the government has borrowed in just about every year this century has led to the only way we have increased GDP. This simply means that the money the government borrowed with no intent to repay is the only way we have a positive GDP. Hence, this is a FRAUD on the American society. So, when you say America is the “greatest”, well greatest compared to what? The rest of the world is real crappy itself if we’re the greatest and essentially only have economic growth via deception and fraud.
The truth is we’re probably the least worst of the rest of all the world’s countries. The focal point here is that America has NO growth without debt being tacked on, which is debt accumulated by fraud. This is what the US government has done to stave off economic chaos.
In essence, it’s like someone going into business and they’re trying to pay their bills and grow the business and the only way they can have a positive cash flow to meet their expenses is through additional borrowing and not from revenues that they create in their business. So how would any business stay afloat under that situation.