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Who cares about the National Debt - Right?

Updated on January 26, 2014

What does out Debt Buy Us?

The National Debt is 12 Trillion Dollars and climbing. The debt is increasing at a rate of about $2.5 billion per day. The Congressional Budget Office is predicting the debt to Grow to $20 Billion within the next decade.

How does the average person put the National Debt into perspective? Well it just depends on how you want to look at it. Take the speed of light for example. The speed of light is 186,000 miles per second. That’s pretty fast. At that rate how far can light travel in a year? The answer is 6 Trillion miles. Seems like a pretty far distance doesn’t it? When you consider that it only takes 8 seconds for a photon of light to travel from the Sun to the Earth it really starts to seem like a long way doesn’t it? So when you start to think of Trillions the way you think of them becomes overwhelming.

Now For Some Really Crazy Fun Looking to the Future of Debt

I’m not going to attempt to verify these numbers with any real accuracy because that simply isn’t important. Why? Because ultimately it just doesn’t matter because the numbers are so large. So go ahead and criticize me in the comments section for not having perfect numbers.

  • Our National Debt is larger than China's entire economy, plus the United Kingdom's Economy, plus Australia’s economy – combined.
  • Foreign debt holders are owed approximately $3.3 Trillion.
  • By 2019 which is just 10 years away the National Debt will increase to 82% of our Gross Domestic Production. GDP is the total value of all goods and services produced over a specific period of time usually year to year. Think about that for every $1.00 of Production we will owe 82 cents just in debt.
  • The current debt load per person is now in excess of $35,000

Who do we owe this money to? That’s a great question. And the answer is way to complex to discuss here. But if you think about who we borrow from then you have a much better answer.

Now for an even bigger wake up call. The personal debt load in this country exceeds $14 Trillion.

How you going to spend your way out of that Mr. Obama?

The country is Bankrupt and the people are slaves to the Banks. Not a pretty picture is it? But there is a solution. And it’s not going to be easy but it MUST happen. The perpetual debt machine has got to be destroyed. The currency has to be put back on a precious metal standard. Banking practices that allowed this debt to be created have got to be stopped.

The bottom line is Growth is not exponentially sustainable. People have got to realize we live on a planet of limited resources. Everyone is not entitled to a car, an iPod, a new pair of shoes just because they want it. Americans over consume and waste to an extraordinary degree. Our society is built around consumption and consumption is choking away our quality of life.

People are working two jobs just to get by as our demand for consumption of material goods drives up prices beyond what a single wage earner can afford. People are spending all their time chasing the “American Dream” which is the accumulation of wealth, except what they have acquired is debt, not wealth. Taxes are going up again, the standard of living is going down again.

If you want to blame someone you only have to look in the mirror. Because it’s our own pursuit of materialism and our lack of education that has created the problem and it’s up to us to fix it. Sure it’s easy to place blame… Corporate America, the Federal Reserve, and Politicians that are bought and sold are to blame no doubt. But they could not pull it off if we didn’t allow them to.

So we can talk about the problems and we can blame people, but outside of educating ourselves to the real problems nothing is going to happen until we take action. And the only action we can take is to DEMAND our Politicians correct the system that created the problem. If we can not do this then all is doomed.

What is so important that we have to borrow our future to get it right now?

How much Stuff do we Really Need?

Americans are over consumers and paying the price for their desires.
Americans are over consumers and paying the price for their desires.

Comments

Submit a Comment

  • profile image

    apartments 

    8 years ago

    amazing how much money we owe and yet everyone wants to blame someone instead of just fixing it

  • KingDrew profile image

    Drew Bobbitt 

    8 years ago from Atlanta, GA

    Great hub Mike. It boggles my mind that more Americans aren't concerned about the massive amounts of money this country spends and owes. This country needs to stop trying to help save and police everybody outside our borders and start focusing on Americans. We have our own problems to deal with, but I feel like when we as a whole realize that it will be too late to do anything about it.

  • ethel smith profile image

    Ethel Smith 

    8 years ago from Kingston-Upon-Hull

    The UKs national debt is frightening. We look set for a bumpy ride, to say the least.

  • Carol the Writer profile image

    Carolyn Blacknall 

    8 years ago from Houston, Texas

    I give this a thumbs up. Our country is in so much trouble. Thanks for writing this. - Carol

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