Our Financial Condition
During the past 4 years of the Biden/Harris Democratically controlled Government, they spent $7 Trillion.
Current Debt to GTP is 122%
Debt to GDP is projected to be 172% by 2050 and 200% shortly thereafter and this is not a sustainable situation.
Total debt of the U S economy
- $35T and rising debt subject to debt ceiling
- $12 trillion unfunded liability military
- $78 trillion unfunded liability social security and Medicare
$125 Trillion in Debt
We are spending more on the interest of the $35T than we are on National Defense. As this number continues to climb very quickly, we are on a pace where all our tax receipts we take in will go to paying the national debt.
The current debt is the greatest threat to our national security. Think of this that the $35T we owe is greater than the economies of China, Great Britain, Germany, Japan, and India combined which works out to $266,000 per household or $106,000 per person and if we don’t pay this money now it passes down to our children.
Congress are not good stewards of the purse, there seems to be a culture in Washington of just continue to spend. Congress has been dysfunctional and irresponsible for a very long time. They also do not have the guts to make tough decisions and tell the American people what needs to be done before we continue to destroy our country financially. Many times, when they make decisions to spend Trillions its over 10 years, many think that I will not be here and someone else can deal with it. This is the coward’s way, and I do not know any American household that can run their households like how Washington runs its business. This is also causing us to endure huge inflation and the rising costs of goods and services. Social Security and Medicare will not be around if we do not stop the excessive spending and start cutting costs.
When are they ever going to say let’s get our fiscal house in order. When will they sit and project realistic budgetary priorities for next year. Every company in the private sector does this but only the government does not because they are not spending their own money. This is what happens when you elect nonbusiness minded people to Washington.
How do we change this and cure our problems:
- Grow the economy and drive more revenues and that will only happen when you put businesspeople in power that understand economics.
- Secondly, we need to keep interest rates low so we can pay down our national debt easier.
- Thirdly to make sure other countries will be there to lend us the money.
Jerome Powell the Fed chairman recently said the debt is growing faster than the economy. We need to pay attention to the Fed Chairman.
The problem we have is that congress will never reform itself. It may take states to start this process. We have been downgraded by Fitch from a AAA+ to AA+. In November Moody downgraded us from stable to negative situation and in April IMF blasts us for unsustainable fiscal policy.
Now we have a new VP Harris running for President and she wants to add $Trillions of more spending to the deficit which will cause more inflation and cost more to pay it back. She wants to go after companies that she thinks are price gouging the American people, she is so wrong and shows her lack of business experience on this point as there is only a few % profit margin on groceries. If she does this, we will have stores with no food, and it will be like Venezuela for our company. This has been tried in the past and has failed. I have no idea who is giving her economic and monetary advice, but she needs to change immediately. She wants to give $25,000 to first time buyers, if she gives a million people this money, she will add another $2.5 Trillion to the debt. These people never stop trying to buy our votes and destroy our economy. I am seriously very scared for our country when we have people making decisions that never made payroll or ran a coffee shop. These are not the people you want in power running the largest economy in the world.
The dollar is losing its place as the world currency because of its decline. Countries like Argentina, Brazil, China, India, Bolivia, and maybe Saudi Aribia are losing confidence and are trading in other currencies, and this would be chaotic for the dollar if this keeps happening. It’s very important to have someone in the White House that understands economics and how to financially run our economy. We are on the road to look like Venezuela if we have 2 more years like the past 4 years. We know we have the two most inexperienced people running for President which will continue to make bad decisions every day or they are trying to destroy this country.
Be very careful who you vote for because we all depend on each other to make the right decision to protect our way of life and the survival of our country and the world.
Written by an Immigrant that did it the legal and the correct way.
Author Murphy & Business CEO.
Read more on my thoughts about our last political President in my #1 Amazon best-seller, “Business or Political President“, available through Amazon and Kindle Unlimited.
Watch out for my new book being launched in September!
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