The Government Deficit

Government Has Borrowed 17.9 % From The Social Security Trust Fund

William Pitt, 1st Earl of Chatham-Prime Minister of Great Britain  Term: 30 July 1766 -14 Oct 1768
William Pitt, 1st Earl of Chatham-Prime Minister of Great Britain Term: 30 July 1766 -14 Oct 1768

“Where law ends, tyranny begins!” Lord Chatham (William Pitt) expressed this concern to the British House of Lords in January of 1770. The full quotation reads; Unlimited power is apt to corrupt the minds of those who possess it; and this I know, my lords, that where laws end, tyranny begins.

Let’s look at the definition of ‘tyranny’--- a. similarly oppressive and unjust government by more than one person, arbitrary; b. unreasonable, or despotic behavior or use of authority, ex: the teacher's tyranny; c. (Government, Politics & Diplomacy) a political unit ruled by a tyrant.

Through the centuries, government leaders have continued to validate this quote. Complete power, does corrupt completely and it begins with the desire for greed and control. Unfortunately, with this type of individual enough, is never enough. Our leaders today flaunt their self-serving attitudes and we the people are suffering the dismal consequences of that mind-set.

We, as citizens, share the blame for our country’s circumstances. Instead of being loyal to individualism, that loyalty is lost in the doctrine of political parties. Personally, my vote goes to the person I feel is most qualified. The one who strongly believes in America's freedoms, the preservation of our constitutional rights, and keeping America strong, safe and financially healthy. Party affiliations should never be the decisive factor when casting a vote. Nor should it retain any elected official when they fail their citizens in lieu of greed and favors.

There are approximately 72 million registered Democrats, 55 million Republicans and 44 million Independents.

Who do the Republicans fight to protect --- the rich! That one percent who own, and control 90 percent of this country’s wealth. Senator Boehner walked out during budget meeting talks and refused President Obama’s phone calls. Why, because Boehner was after big cuts in Social Security benefits, Medicaid/Medicare, education funding for our children, and the list goes on. He was refusing, as all Republicans do, to close tax loopholes and raise taxes on the rich, big business, and corporations. He also opposed new regulations on those who have brought us to financial ruin.

Would someone remind Senator Boehner that his version of the Robin Hood Fairy Tale is wrong? Robin Hood robbed from the RICH and gave to the POOR. Boehner and his cronies ignore the fact that their way of thinking continues to move the middle class into the ranks of the new poor! Understanding the Republican Party’s dogma, I cannot comprehend how the middle class or poor can still declare loyalty to their ideals.

Did anyone besides me notice that Boehner only mentioned the business community in his rebuttal to President Obama’s press statement on the “debt ceiling talks?” Nor did he give any thought to the impact this political posturing would take on our country and its citizens. As Tavis Smiley stated, “One percent of the population, owning and controlling more than 90% of the wealth, is both dangerous and unsustainable.”

By the way, where are all the new jobs due to NOT increasing tax rates on businesses? Oh wait, they are all in India, Mexico, the Philippines etc, etc, etc!

Our national debt consists of the following:

US Holders of Debt
42.1 % -- US Individuals and Institutions
17.9 % -- Social Security Trust Fund
6.0 % -- US Civil Service Retirement Fund
2.1 % -- US Military Retirement Fund

Foreign Holders of Debt
11.7 % -- Oil Exporting Countries
9.5 % -- China and Hong Kong
6.3 % -- Japan
1.4 % -- United Kingdom
1.3 % -- Brazil
1.6 % -- All other foreign countries

(Source)

Still not appearing on the list above is the cost for allowing illegal’s to obtain Social Security benefits, and the continual borrowing by elected officials from this fund. In a recent article, it was confirmed that our government has borrowed more from the social security fund then from any foreign government. These are critical factors that need to be addressed --- not cuts to the middle class (what is left of us) and poor. Counting Social Security as part of the deficit problem is a fictitious sham! It is a scheme crafted by our elected officials to offset the governments default to the American taxpayers and it is morally wrong! Where is our bail out?

Comments 11 comments

Nancy's Niche profile image

Nancy's Niche 5 years ago from USA Author

Jon Ewall, nice to hear from you. I, for a long time, have not believed in the two party systems; it does not work. The Republican and Democratic members of the house, senate and presidential office are different in name only but their dogma, greed, payoffs and self severing attitudes are synonymous. There is more than enough blame to go around when it comes to our country’s decline in all areas.

As my article states, people should be loyal to their individualism and not parties. lf an elected official fails “we the people” in lieu of payoffs and greed then he or she should be voted OUT --- not rewarded with re-election!

http://atypicalguy.wordpress.com/2008/05/04/spendi...

Bush gave us the 9/11 Patriot Act & Obama extended it which cost taxpayers over 1.2 trillion and here’s what it does for us…

http://reason.tv/video/show/former-fbi-agent-mike-...


JON EWALL profile image

JON EWALL 5 years ago from usa

Nancy's Niche

You said ''He also opposed new regulations on those who have brought us to financial ruin. BARACK OBAMA ? The 2007-2008 Democrat controlled Congress( Senator Obama was a member too) or the Obama with a Democrat super control of Congress, 2009 and 2010.Are you aware that the Democrats have had 2/3's control of the US Government since Jan 2007 including 2008,2009,2010 and 2011.

Can you explain your thoughts as to who or whom you apparently blame for the recession and the reasons for your statement.

Looking forward to a response if you would, thank you.


Nancy's Niche profile image

Nancy's Niche 5 years ago from USA Author

shea duane, thanks for you nice comment and taking time to read this hub. I hope you found it informative...


Nancy's Niche profile image

Nancy's Niche 5 years ago from USA Author

You right JamaGenee and I, like the rest of working class, spend money for necessities and nothing more!


JamaGenee profile image

JamaGenee 5 years ago from Central Oklahoma

The spin now being put on the "slowdown" of the economy is that "consumers are choosing not to spend". I could only stare in disbelief that the supposed "expert" on economics could utter that phrase with a straight face. *Investors* may be choosing not to invest, but for the unemployed or minimum wagers, spending or not spending is not a choice these days. Keeping a roof over one's head and food on the table is the priority; buying the latest "hot thing" is not.


Nancy's Niche profile image

Nancy's Niche 5 years ago from USA Author

Thanks everyone for the great comments and I apologize for my delayed response...

HSchneider, I agree, the Republicians are owned by Corporate America!

JamaGenee, You are right; it is simple analogy---no work, no pay, no economy! All our elected leaders care about is the $$$$ filling their pockets…

shibashake, nice to hear from you. It's sad to think that the best our leaders can do is play the "us vs. them" game. What's worse is the citizens keep putting them back in office... :o{

Lady_E,In order for us to stand strong, we will need to clean house in DC and rid ourselves of the self-serving leaders and that includes the elected Tea Party members. The richest people (ex Koch Brothers) in the country back them and that changes nothing!

Good to hear from you...x


Lady_E profile image

Lady_E 5 years ago from London, UK

Very interesting read. It gives one food for thought what is happening in the Government these days.

I hope the US economy stands strong. The world looks up to you guys.


shibashake profile image

shibashake 5 years ago

I really hope that our supposed "leaders" can stop their asinine squabbling and get back to rebuilding the economy. Their latest little "game" has brought nothing real in terms of deficit reduction, but has brought an S&P debt downgrade and now there is a 1 in 3 odds of another recession.

Brilliant leadership. Why do we even pay these clowns?

All I wish for is a party that is *actually* fiscally responsible, but at this moment in time that seems far out of our reach.

Why are we still squabbling and pointing fingers? Things are not looking good for anyone - so shouldn't we be able to unite at the very least on shared misery?

"Instead of being loyal to individualism, that loyalty is lost in the doctrine of political parties."

That is so very well said!!

I sure hope that the clowns we elected get their act together and stop their grade-school nonsense. One more little "game" in Washington and it will mean additional sustained pain for all of us.

This "Us vs. Them" mentality will be the downfall of us all.


JamaGenee profile image

JamaGenee 5 years ago from Central Oklahoma

What Cantor and the folks who pay him to keep the Rethug Party beholden to Corporate America and Big Money fail tp grasp is without a *viable* working class...meaning workers earning more than needed to pay bills necessary to keeping a roof over their head...there will be NO money filtering UP to the corporate coffers or into the portfolios of the uber-rich. Wealth does not and never has filtered DOWN.

A man described as the Repub Party's strategist but whose name I don't recall was on Meet The Press yesterday, and seemed quite proud to boast that corporations and wealthy individuals are "sitting on BILLIONS" amassed from the Bush tax cuts and other loopholes, and they will NOT use hese BILLIONS to create jobs "until the economy recovers".

Sitting next to him, Rachel Maddow's expression could best be described as "What color are the trees in YOUR world, idiot?". He also said that the bursting of the housing bubble caused the current situation, and that the only way to get the economy back on track is to adjust mortgages to be more affordable, so people can begin buying homes again. Hello... People without a job CANNOT get a mortgage under any circumstances.

These are only two examples of how far out of touch Rethugs are with Real Life for those who aren't in the 1% who control 33% of the nation's wealth.


shea duane profile image

shea duane 5 years ago from new jersey

very well written!


HSchneider 5 years ago from Parsippany, New Jersey

Excellent Hub Nancy's Niche. The Republicans are now a fully owned subsidiary of Corporate America. I do think Speaker Boehner was willing to compromise but Majority Leader Cantor cut him off at the knees because he wants his job. He has taken up the Tea Party cause and is basically a political whore. Corporate America created this Tea Party movement to further their agenda of low taxes and less regulation. They want to destroy the social safety net our country has created to protect its working class.

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