EPISODE · Jan 20, 2023 · 53 MIN
Tiktok, Tiktok goes the www.usdebtclock.org, Tiktok, Tiktok goes the US Debt Limit as the American Dream Implodes
from The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism · host Jerry Rhoads
Can You hear the debt clock going tik tok, tik tok, tik tok implosion up to the cliff where the government is shut down, by exceeding the debt limit by $250 billion deficit spending per week. How can that happen to America the Wealthiest Nation in the world. Well, if you have been listening to my podcasts you will know about the debt clock, usdebtclock.org, that tracks the State of Collapse reported every second of every day showing $31.498 trillion in recorded debt and $180.926 trillion in unrecorded obligations at 2:14 PM NY EST, with the debt ceiling of $32 trillion being deferred again until June to keep the government printing press supporting it, with fiat currency and T-Bills issued and purchased for sale to bond market investors, by the Fed. At this minute, Federal, State, Local annual spending is 9.6 trillion. The $4.6 trillion in Federal tax revenues barely covers the payroll, interest ($540 billion) on the booked debt and the $1.4 trillion in deficit spending for the year 2022. The actual budget deficit, on the cash basis of accounting, of $1.5 trillion, plus $1.5 trillion in Medicare/Medicaid spending, $1.2 trillion social security spending, is all borrowed money. Medicare has little cash and a trobe of US securities that have been borrowed money for balancing the general fund budget. There are $7 trillion outstanding T-bills owned by foreign investors, $330 billion in Federal unfunded pensions, $146 billion in fraud and abuse, Agri subdices $268 billion. Total debt to GDP of $26 trillion is 135% ... the largest ever. The States aren't solvent either having $3.6 trillion in spending with $2.2 trillion in tax revenues with the shortfall of $1.3 trillion debt funded by borrowing using revenue bonds underwritten by the Fed banking system. The total Federal, State and Local employment is 24 million costing $1.9 trillion per year with a combined unfunded pension debt of $7 trillion. By not using GAAP, generally accepted accounting principles, our government officials are cooking the books by not recording Federal, State and Local Unfunded liabilities: Social security $22 trillion, Medicare $34 trillion, totaling $180,927,241,506,928 ($541,118 per citizen) ticking and tocking up so fast I can't get it to the cent. How can we run an enterprise on this kind of mismanagement? On top of this insolvency is the loss of trade to our foreign markets to the tune of $1 trillion per year, plus shipping and handling costs, tariffs and waste that is called an operational loss of over $2 trillion per year. That's a trillion dollars average per year for 32 years that totals the $32 trillion operating debt exceeding the debt ceiling in 24 hours. How can this be remedied in the next decade? My ideas are presented in my American Enterprise Party Trilogy. Volume One drain the swamp of woke alligators (bureaucrats), privatize education, health care, energy, transportation, using generally accepted accounting principles (China is doing the same thing with its books), Volume Two a plan of quasi-reorganization to bail the boat before it sinks from debt and operational losses, and Volume three returning the patriotic and ethical work into a dynamo for beating our competitors in global trade by turning the tables on them by bringing the supply chain back to the USA. By shifting all shipping and handling costs to China and the Asian producers thereby putting then out of business and returning the related businesses back closer to the hedgemon Western Hemisphere consumer markets of the world. In five years we cut government overhead that heaps 40% burden on our small to medium sized businesses in half, and in ten years covert our Defense Department to the Offense Department using trade as our weapon, not the $4 trillion $800 billion per year) spent on weapons of mass destruction that we mustn't use.
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Tiktok, Tiktok goes the www.usdebtclock.org, Tiktok, Tiktok goes the US Debt Limit as the American Dream Implodes
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