Is It Even Possible To Pay Off Our National Debt?

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Is there any way out other than collapse?

By Blaze and Spitfire AMERICA’S FREEDOM FIGHTERS –

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Simple question. Why does the government have to borrow from a private financial institution, aka “the Fed”, in order to spend more than it takes in in taxes and thereby place this debt’s liability on future generations? Was not the government able to, at least at some point in our history, simply print Treasury notes off the federal printing press and incur no consequential debt?

Michael Snyder / The Economic Collapse reports:

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Did you know that if you took every single penny away from everyone in the United States that it still would not be enough to pay off the national debt? Today, the debt of the federal government exceeds $145,000 per household, and it is getting worse with each passing year. Many believe that if we paid it off a little bit at a time that we could eventually pay it all off, i don’t think thats the answer. It has been projected that “mandatory” federal spending on programs such as Social Security, Medicaid and Medicare plus interest on the national debt will exceed total federal revenue by the year 2025. That is before a single dollar is spent on the U.S. military, homeland security, paying federal workers or building any roads and bridges. So no, we aren’t going to be “paying down” our debt any time in the foreseeable future. And of course it isn’t just our 18 trillion dollar national debt that we need to be concerned about. Overall, Americans are a total of 58 trillion dollars in debt. 35 years ago, that number was sitting at just 4.3 trillion dollars. There is no way in the world that all of that debt can ever be repaid. The only thing that we can hope for now is for this debt bubble to last for as long as possible before it finally explodes.

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But even now things are a giant mess. We are told that “deficits are under control”, but that is a massive hoax that is based on accounting gimmicks. During fiscal year 2014, the U.S. national debt increased by more than a trillion dollars. That is not “under control” – that is a raging national crisis.

I’m not sure who has a better deal in this day and age-the prudent man who has no debt, or the debtor who totally throws caution to the wind and goes into hock up to his ears and takes out credit cards on his cat’s name, too. When the house of cards collapses, the prudent man with the bank account full of savings will probably see his money seized to pay for a state of emergency, while the debtor will probably be bailed out by the government using the prudent man’s money, either way if things don’t change an economic collapse is inevitable.

It seems that America is using the Roman Template of self destruction. Over spend on your military and run up large debts, what next? Well Rome turned on its own people for cash which has happened many times in different societies. This leads to less freedoms and economic totalitarianism. These are scary times we live in and in many cases America has been compared to the Roman empire for obvious reasons. I pray we can turn things around and not fail like they did. In my opinion it’s up to “we the people” as much as anyone to make sure that doesn’t happen.

Dean James AMERICAS FREEDOM FIGHTERS

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