All of this prosperity that we see all around us is just an illusion. It is a false prosperity that has been purchased by the biggest mountain of debt in the history of the world.
Did you know that if you added up all forms of debt in the United States and divided it up equally that every single family in the country would owe more than $683,000?
We are a nation that is absolutely addicted to debt, and the U.S. debt crisis threatens to destroy everything that our forefathers built.
Yes, everything may seem fine for the moment, but what do you think would happen if the federal government suddenly adopted a balanced budget?
1.3 trillion dollars a year would be sucked right out of the economy and we would be looking at an "economic readjustment" that would be mind blowing.
Enjoy this false prosperity while you can, because it is not going to last.
Debt is a very cruel master, and our day of reckoning is almost here.
The following are 34 shocking facts about U.S. debt that should set America on fire with anger....
#3 During 2011, U.S. debt surpassed 100 percent of GDP for the first time ever.
#4 According to Wikipedia, the monetary base "consists of coins, paper money (both as bank vault cash and as currency circulating in the public), and commercial banks' reserves with the central bank." Currently the U.S. monetary base is sitting somewhere around 2.7 trillion dollars. So if you went out and gathered all of that money up it would only make a small dent in our national debt. But afterwards there would be no currency for anyone to use.
#5 The U.S. government spent over 454 billion dollars just on interest on the national debt during fiscal 2011.
#6 The U.S. government has total assets of 2.7 trillion dollars and has total liabilities of 17.5 trillion dollars. The liabilities do not even count 4.7 trillion dollars of intragovernmental debt that is currently outstanding.
#7 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
#8 It is being projected that the U.S. national debt will surpass 23 trillion dollars in 2015.
#9 According to the GAO, the U.S. government is facing 34 trillion dollars in unfunded liabilities for social insurance programs such as Social Security and Medicare. These are obligations that we have already committed ourselves to but that we do not have any money for.
#10 Others estimate that the unfunded liabilities of the U.S. government now total over 117 trillion dollars.