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The Dangers of the Deficit
US National Debt
First we must understand what the deficit is.
To my understanding, it means that the United States have printed dollars that they do not have foreign currency or assets to support.
These dollars have been paid to other countries.
If these countries China, Europe, Japan, and Mexico etc. were to want to “cash in” their US dollars, America could not pay them.
America would then owe them, meaning a repayment schedule would have to be set up including interest rates. These payments would have to be paid.
Alternatively, the dollar could be devalued to at least the extent where the ratio of pesos to dollars is reversed. Either way the situation would be similar.
The US, having no foreign currency left and everybody knowing the US dollar had nothing to back it. The US would be unable to buy imports of oil, food or resources.
The oil rich states, such as Texas would want hard payment, even if only in food and resources. The mid west would want oil for their food.
All states would not like to pay the federal governments high taxes to pay back their debts, especially if one state had to pay another’s share.
Some states would want to break away from the union.
The start of the end, for the United States.
This is not a prophecy or even news, it is history repeating itself.
All Empires throughout history and yes, the USA has become a financial Empire, have all fallen because the leaders and wealthy influential, believe no one could or would dare to displace them.
Years ago, the US was popular and nations had trust in their wealth and fiscal management. No one would want their financial meltdown. Today it is a different picture. As it has steadily become less popular some countries would welcome the US’s demise and even those that wouldn’t, have lost faith in their financial stability.
Mr. President and Representatives, the American people are good people, they only want financial responsibility, national pride and safety for their children. They do not care about your egos or careers.
With the population being on the brink of owing $50,000 each, with the prospect of the money in their wallets being worthless, they want you to make the hard decisions now, before they have to take a wheelbarrow full of money to buy a Chinese take away.
If it means your political suicide, then so be it. At least you can console yourselves with the thought that: tomorrow you could be paid more on the lecture circuit, for telling how you saved the US, than you would be in a couple of years, for telling how you contributed to its downfall.
Do not debate and procrastinate, no one wants to hear how you can do it; they want to hear how you WILL do it. Act now to strengthen the dollar, restore national pride and ensure the well being of the children.