Barack Hussein Obama borrowed about $10 trillion dollars to operate his U.S. Administration over eight years, 2008-2016. Barack Obama was the first President in U.S. history to borrow that much money. Excluding George W. Bush who responded to September 11, 2001 terror attacks, the second largest amount borrowed by a President was less than one-third. Democrat William Jefferson Clinton borrowed about $3 trillion dollars.
A problem is that $10 trillion dollars worth of U.S. currency does NOT exist. Disregarding U.S. Laws and international conventions it’s absolutely impossible to collect that much American cash at one time, according to the U.S. Federal Reserve Bank.
In The United States, Americans’ public debt crisis is always in the future. Normally routine, as recently as eight years or two presidential terms ago Congress unprecedentedly debated raising the government’s ability to borrow, the debt ceiling. There was a debt ceiling debate eight years before that too, in 2003.
The next debt ceiling debate is now.
The debt ceiling is the total amount of national debt the U.S. can owe. Debt-to-GDP is the ratio between national debt and the total value of goods and services produced in one year. The ratio is supposedly useful. Economists claim it is an instrument to gauge solvency indicating whether or not a country is producing enough to make payments on its debts.
In February of this year CNBC reported U.S. National Debt hit $22 trillion. Although CNBC reports in the same article that U.S. debt rose to the ratio 103.6 percent of GDP when Obama left office, Fox news claims U.S. debt surpassed 100 percent of gross domestic product after the government’s debt ceiling was lifted in 2011. Closer analysis reveals GDP has kept pace.
But a country’s ability to repay debts depends on taxes, investor confidence (bond ratings), monetary policy (interest rates), Congress (law), and ROI (gains minus inflation). Several things could happen if it doesn’t payoff creditors, war (foreign held), inflation (reserve bank), and poverty (peoples’ social security). Though GDP grew significantly since 2010 from $14.53 trillion to $21.06 March 31, 2019 resulting in significantly NO CHANGE to the indicator, American public debt is actually misconceived.
If Americans’ debt crisis is in the future then how does a public debt-to-GDP ratio increasing from 104% to 121% affect time?
Americans’ ability to repay costs associated with their election of public goods largely depends on their income after sustenance, net income, at times including food, shelter, clothing, heat, education, and transportation. Americans reside in U.S. states subdivided into municipalities that provide public services like police, fire, and roads. U.S. state and local deficits contribute to American public debt while goods and services Americans produce are included in GDP. U.S. state and local debt was $3.11 trillion in 2019. Thus, Americans debt-to-GDP ratio is 121%.
Eight years since the last Congressional debt ceiling debate of 2011, it’s time again in 2019 to debate how much Americans can repay.
Friends have complained society is being controlled by the imposition of martial law. In western nations, under constant surveillance, I certainly understand what these friends perceive yet find their definition misfired at people who protect freedom.
Martial law is rule by military forces. Police detect crime. Politicians rule what is criminal. Politics determines what crimes, if any, have been committed and thus, police are politicians’ muscle.
In The United States the politic is supposed to be representative of the people yet politicians have militarized their police forces. Today we live under po-litical and po-lice rule, not martial law. Let me show you the contrast.
Two pictures contain soldiers. They are dressed in fatigues. The other two photos are police. Those photos bear the word police. See if you can find the photo some politicians have called terrorists. It’s unbelievable!
So what’s wrong with permitting peers to call living inside a militarized police state martial law? Simply that it’s a false label, detrimental to heroes who’ve served or sacrificed for common good, and counter-productive to the majority of people’s goal. There’s a difference between military forces and militarized police. But if I point out all the differences then actors might change their roles, police will start wearing fatigues and terrorists will start flashing peace signs, the people and their politicians start to confuse them again .
View it this way: The line between soldiers and police are locations they’ve slept. Cops get to sleep at home in local communities while soldiers sleep in conflict zones. Look at all four pictures again. As our societies increase their domestic security programs don’t be fooled into thinking that’s martial law, it’s not. In a Political Mobocracy the powerful use police to control powerless. Welcome to the party.
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