By: Michael D. Jacobsen
I am sure just about every citizen of the United States has heard a little about the deficit and our national debt. Every year our budget is not about how we will be living within our means, but how much more money we need to borrow from the Federal Reserve to pay for everything we want. And every year people pay less and less attention to how we are going to pay for the national debt.
The simple fact is that we can never fully pay off our debt. That is the very nature of the Federal Reserve, a private company that creates money then lends us that money which we have to pay back with interest. So if the reserve lends our country 500 billion dollars and charges a small amount of interest, the only way we can pay that is by borrowing more money from the Federal Reserve. The fact that we keep borrowing money from the very entity that undermines our country is very telling.
In a previous article I had mentioned the book The creature from Jekyll Island. I still strongly recommend you read it to understand exactly how our monetary system is used to enslave our country. The basic idea of the book is that our economy can only continue as long as we keep borrowing money. The main way we do so is to prosecute wars on other nations. We can borrow to destroy a nation, then have them borrow to rebuild. Then we need to continue the cycle.
As of this writing our National Debt stands at 21.6 trillion dollars.This number may or may not mean much to you. But what should mean a lot to you is that in the past year we payed 310 billion just on interest alone for the National Debt. That is 7.4% of the nations budget, it is the fifth biggest expenditure on our budget, ranking below Social Security Benefits (987 billion), military spending (874.4 billion), Medicare (582 billion), and Medicaid (400 billion).
The sad reality is that as long as we keep borrowing money this is only going to get worse. Soon enough the interest on the debt will outrank medicare and medicaid. As it stands billions are just being thrown away to pay debt on our own currency. None of this money goes to help our country, it just helps to line the pockets of the bankers that really control us.
No matter who our president is, regardless of their political affiliation, if they keep borrowing money and not balancing a budget, we all lose. This has been known for years but as long as the American citizens can be kept ignorant of the effects of borrowing, the scam continues. This also proves that no matter which political party is in power, neither really cares about helping this country , or its citizens. They gladly sell our countries future while telling you they are making our country a better place for your children.
Not only will continued borrowing become harder and harder to pay just the interest on, but inflation will also continue to rob the average citizen. When a small nest egg that person has put aside loses value by ten to fifteen percent in just a few years. As we continue to borrow money and more is created from nothing, the value of our savings, even the money we earn per hour of work becomes worth less and less, in fact wage gains in the last ten years have been wiped out due to inflation.
It is time we as a nation woke up to this elephant in the room, it is only going to grow bigger. The more we feed it the harder it is going to be to get rid of it. How long before we decide it is too big? How much more can we really afford to pay before we realize that we need to balance our budget and try and lower this debt. Rather than reap the temporary benefit and pass the bill to our kids? We all need to realize that any administration that continues to borrow is counting on us to not know how they are destroying our future.
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