Friday, January 26, 2007

Debt Slavery

The United States government is bankrupt, period, end of story. Our political class has bankrupted the USA, and squandered our future and the future of our children. In this essay we will examine not only government debt, but the debt slavery the American people have gotten themselves into through consumerism, fast credit, and massive personal debt.

Government Debt: a Cancer on the Body Politic

Right now the US Government is roughly 10 TRILLION dollars on debt. This debt, a product of the two party fraud, continues to grow through every administration, Republican or Democrat. This debt is a ticking time bomb that will eventually bring down the American Empire. When this debt defaults, and it will, it will bring down catastrophic consequences for the what is left of freedom and democracy in America. Some say it will bring down the American Empire. Maybe, maybe not. It could very well be the glue that seals the fate of liberty and freedom in American forever. This depression will cause a worldwide depression that will rock this planet the likes that have never been seen. The Great Depression of 1929 will look like a minor economic disruption compared to the coming catastrophe. And it is COMING.

Government Entitlements: A Ticking Time Bomb

One of the main reasons the US Government is bankrupt is the large, bloated welfare/ warfare state. Massive Defense Spending, Social Security, Medicare, AFDC, Disability Insurance, corporate tax loopholes, and government agencies of every conceivable type are feeding at the public trough. Sadly, most Americans do not realize that these"entitlements" are increasing their taxes, and mortgaging their future and the future of their children and grandchildren. The more debt, the more taxes there will be to feed the bureaucratic beast. The more taxes, the bigger and more powerful the IRS and other tax agencies will be. The more debt that accumulates, the more the American people will be selling themselves into bondage. These entitlements are a ticking time bomb. To fund Medicare and Social Security massive tax increases will be necessary. Tax rates will skyrocket, and the government will also borrow more money. Some day, in the near future, the American people will be either unwilling or unable to pay the taxes needed to support the US welfare/ warfare state. When that time comes, the end of the Republic as we know it is near.

Consumer Debt: A Cancer on the American Family

Along with the massive government debt there is also a gigantic rise of consumer debt. Credit cards, refinancing of homes, Home equity loans, education loans, etc are a noose around the neck of the American family. Most families in America must have two incomes to sustain life due to massive debt loads. These debt loads are a form of bondage that sucks the enjoyment right out of life. Life is spent worrying, fretting, and complaining to keep afloat. Hours are spent worrying about the next bill or debt coming due. This cancer destroys families, and is a major contributing factor to the high divorce rate in the US. As the American family structure breaks down, calls for more government intervention in family life is heard. As the government creeps into family life, the sanctity and liberty of family life is lost. This massive consumer debt will wipe out millions of peoples fortunes in the coming crisis.

All of the above examples are part of the larger picture of Debt Slavery in the USA. The piper must be paid sometime, and when he demands his money our future will destroyed. The next question is what do we do to solve this tremendous problem? Is it insurmountable? The answer, in my opinion is no. Actually it's "HELL NO!" Now how do we do it? We will examine our way out in the next essay. To assist the reader in seeing the truth our our government debt, I have added a debt clock with the actual debt to the second. Very enlighening, and frightening.

Next week: How we solve our problem.

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