A Broken Economy
The Economy of the United States is in a shambles. You have the massive federal debt, now 13.2 trillion dollars and increasing by the second. This is crippling our economy. The interest payment on this debt for the last fiscal year 2009 was $383,071,060,815.42 or about 32 Billion dollars per month. Then there is the overwhelming deficit spending, which is underfunded for fiscal year 2010 by 1.3 Trillion dollars, a number that is very likely to rise to a new all time high. Then of course don’t forget the IOU written by the politicians for unfunded Social Security, Medicare and Medicaid. We need to stop this trend before it becomes irreversible. It is now projected by the Congressional Budget Office that by 2020 the interest payment on the National debt will be about $916 Billion per year or more than $76 Billion per month, with a total national debt of about $20.3 Trillion. This was calculated On March 5th before the passage of the healthcare bill so expect these numbers to rise. http://www.cbo.gov/ftpdocs/112xx/doc11231/frontmatter.shtml
Unemployment now sits at 14.6 million people or 9.5% of the available workforce. This is what your politicians would have you believe, even as bad as that number is. Because this doesn’t take into consideration those, who have accepted part time jobs 8.6 million people. Or those that are classified as marginally attached to the labor force another 2.6 million people. These are people who don’t count because they have given up trying to find a job or haven’t looked for work in the past four weeks. So the real number that your government doesn’t want to advertise is 25.8 million people or 16.8%. Now that will start to get your attention. Again for those who wish to see for themselves. (http://www.bls.gov/news.release/empsit.nr0.htm)
Do you start to see the gravity of our situation? We are a Nation that manufactures nothing! One third of all students who enter the education system in the United States never graduates from high school. This is alarming. However, it has always been this way. The difference is that there used to be manufacturing jobs for these individuals to support themselves. If something drastic doesn’t change, unemployment will continue to grow and reach a tipping point that will spell the end of our society as we know it.
We have an economy that is based on little more then people spending money. What makes that worse is that people are typically spending borrowed money. So when you combine personal debt with national debt we are in a hopeless situation, unless we change the way we do business.
Now take into consideration the governments’ deficit spending as a percentage of Gross Domestic Product. For fiscal 2010 it is projected to be 9.2% of GDP now again that is without any additional spending so it is likely to go up. For all of fiscal 2009 it was 9.9% of GDP. So what this translates into is that roughly 9% to 10% of production in this country is nothing more then your government printing money!
It is also interesting that Obama says his healthcare bill will reduce the deficit by $138 Billion in the first 10 years. I find this hard to believe that since the CBO projects that federal deficit spending will be between $550 Billion and $1.2 trillion dollars per year over the next 10 years. So if the government plans on continuing deficit spending . . . How can you possibly reduce the national debt? Mr. Obama, I believe you must be using some kind of new math. Perhaps it is the same math the bankers used to ruin this country and cause our recession! Then of course paid themselves billions in bonuses for doing such a good job of it! http://www.cbo.gov/ftpdocs/108xx/doc10871/BudgetOutlook2010_Jan.cfm
This way of doing business makes every dollar you have worth less. The more money the government prints, the less money in your pocket is worth. If this continues, we will have inflation running wild in this country. You can not just keep printing money to get out of a recession. The only way back is by creating jobs and putting people back to work. This however is a virtual impossibility, unless you start bringing manufacturing back to America.
The Extended Cost of Exporting Manufacturing:
The effect of sending our manufacturing over seas is two fold and works to further ruin our economy and country. The obvious are the loss of American jobs. Moving our citizens from being productive members of society to a drag on our economy as the unemployment roles grow. A Nations greatest asset is its citizens. The government of the United States and it’s lopsided trade agreements have turned our once productive assets into growing liabilities. Those of us that still have a job, are being stretched to the breaking point. We can’t afford to subsidize a free spending government any longer, while trying to help those that are victims of American greed.
The hidden cost of exporting American jobs became one of the biggest taxes on our people not directly imposed by our government. This is the rising cost of energy. By sending most of our manufacturing to third world countries. You took areas of the world where people typically spent most of their time growing food to sustain themselves and turned them into people who thirst for the same natural resources that we do. Manufacturing takes energy. Energy to power it, Energy to get people to it and Energy to fuel the new desire for all the technology that we take for granted and now they all want it too. If you had kept manufacturing here, oil would be $20 to $30 per barrel instead of $80 or more. This is because the worlds thirst for energy would be nowhere near what it is today. If America had taken care of its own, instead of selling us out for a better bottom line, we would all be better off today.
Unemployment now sits at 14.6 million people or 9.5% of the available workforce. This is what your politicians would have you believe, even as bad as that number is. Because this doesn’t take into consideration those, who have accepted part time jobs 8.6 million people. Or those that are classified as marginally attached to the labor force another 2.6 million people. These are people who don’t count because they have given up trying to find a job or haven’t looked for work in the past four weeks. So the real number that your government doesn’t want to advertise is 25.8 million people or 16.8%. Now that will start to get your attention. Again for those who wish to see for themselves. (http://www.bls.gov/news.release/empsit.nr0.htm)
Do you start to see the gravity of our situation? We are a Nation that manufactures nothing! One third of all students who enter the education system in the United States never graduates from high school. This is alarming. However, it has always been this way. The difference is that there used to be manufacturing jobs for these individuals to support themselves. If something drastic doesn’t change, unemployment will continue to grow and reach a tipping point that will spell the end of our society as we know it.
We have an economy that is based on little more then people spending money. What makes that worse is that people are typically spending borrowed money. So when you combine personal debt with national debt we are in a hopeless situation, unless we change the way we do business.
Now take into consideration the governments’ deficit spending as a percentage of Gross Domestic Product. For fiscal 2010 it is projected to be 9.2% of GDP now again that is without any additional spending so it is likely to go up. For all of fiscal 2009 it was 9.9% of GDP. So what this translates into is that roughly 9% to 10% of production in this country is nothing more then your government printing money!
It is also interesting that Obama says his healthcare bill will reduce the deficit by $138 Billion in the first 10 years. I find this hard to believe that since the CBO projects that federal deficit spending will be between $550 Billion and $1.2 trillion dollars per year over the next 10 years. So if the government plans on continuing deficit spending . . . How can you possibly reduce the national debt? Mr. Obama, I believe you must be using some kind of new math. Perhaps it is the same math the bankers used to ruin this country and cause our recession! Then of course paid themselves billions in bonuses for doing such a good job of it! http://www.cbo.gov/ftpdocs/108xx/doc10871/BudgetOutlook2010_Jan.cfm
This way of doing business makes every dollar you have worth less. The more money the government prints, the less money in your pocket is worth. If this continues, we will have inflation running wild in this country. You can not just keep printing money to get out of a recession. The only way back is by creating jobs and putting people back to work. This however is a virtual impossibility, unless you start bringing manufacturing back to America.
The Extended Cost of Exporting Manufacturing:
The effect of sending our manufacturing over seas is two fold and works to further ruin our economy and country. The obvious are the loss of American jobs. Moving our citizens from being productive members of society to a drag on our economy as the unemployment roles grow. A Nations greatest asset is its citizens. The government of the United States and it’s lopsided trade agreements have turned our once productive assets into growing liabilities. Those of us that still have a job, are being stretched to the breaking point. We can’t afford to subsidize a free spending government any longer, while trying to help those that are victims of American greed.
The hidden cost of exporting American jobs became one of the biggest taxes on our people not directly imposed by our government. This is the rising cost of energy. By sending most of our manufacturing to third world countries. You took areas of the world where people typically spent most of their time growing food to sustain themselves and turned them into people who thirst for the same natural resources that we do. Manufacturing takes energy. Energy to power it, Energy to get people to it and Energy to fuel the new desire for all the technology that we take for granted and now they all want it too. If you had kept manufacturing here, oil would be $20 to $30 per barrel instead of $80 or more. This is because the worlds thirst for energy would be nowhere near what it is today. If America had taken care of its own, instead of selling us out for a better bottom line, we would all be better off today.