Four gangsters counting cash amid weapons

Twenty-five years of our leaders’ fiscal sabotage

corruption, sabotage, and insanity have nearly bankrupted the USA

We understand that some people who get elected are corrupt and will, for personal gain (PAC donations, lobbyist payments), happily participate in the ruin of America. It is devastating to accept that nearly all of them do.

The clear evidence is no attempts at all to legislate meaningful fiscal change, large or small. It’s not rocket science; it’s easy to understand.

Patriotism means love of your country, not of PACs’ and lobbyists’ money. Defense means defense, not offense. Fair taxation means fair. Entitlements designed to be balanced must be (more) balanced.

Outrageous! Corruption by legal means, deliberate sabotage by our leaders, warmongering constantly. The stupid sucking up to Israel and idiotic move to “merge” with Israel’s military; our constant need to show the world how tough we are (by virtually all our elected leaders); refusal to tax our big earners, or to bring our “entitlements” in balance, less underwater.

Only in the past 25 years has our country gone nearly broke. The USA is now insolvent; bankrupt without filing or acknowledgement. Following the awful “9/11” attack by a small group, with much suspicion of some possible inside help, Congress went insane (and got rich).

At fiscal year-end (FYE) 2001, our country’s 225-year existence had brought our national debt to $5.8 trillion. Only 25 years later, it will hit $40 trillion by our present FYE, September 30, 2026. And it will hit $50 trillion within four more years, FYE 2030. A factor of nearly ten times in just 29 years.

Sickening, disgusting, and totally unsustainable. And the people are powerless to do anything about it.

Already, foreign countries are reducing holdings of our US Treasury debt (“paper”), and it will get much worse. We now must borrow more yearly in order to pay the interest, which is the definition of the “death spiral” of debt. We can never pay it off, and the come-to-Jesus moment isn’t very far away. Our wealthy legislators do not even suggest how to make it less bad to reduce our annual “deficit.” Neither Democrats nor Republicans (all ostriches with heads in the sand).

Countless Wall Street finance managers (big names) write of how we are alarmingly (hopelessly) overextended and need to fix it (at least try). Higher interest rates, constant refinancing plus increasing USA debt, and foreign borrowers’ reluctance guarantee higher and higher inflation, devaluing our dollars, and inevitably a huge financial crash. We are prospectively ruined, not knowing if the crash will be in five, ten, or maybe twenty years.

By comparison, several other large countries are also over-indebted. Our debt-to-GDP ratio is a sick 124%. Other large economies with high ratios are Japan (237%), France (113%), the UK (101%), China (88%), India (88%), Pakistan (80%), Brazil (76%), Germany (64%), and Nigeria (52%). The lowest of the large economies is Russia (17%). Yes, you read it right.

Consider the insanity in three dog-whistle areas cited above: the insanely bloated “defense,” taxing the rich, and balancing entitlements (well, it is not possible, but can be improved upon).

“Defense” –– Actual defense means when a foreign country attacks us in, at, or on American land, we must respond to defend, then go on the offense to put the offender down. This has happened twice: in 1812 the British attacked, so we waged war, and in 1941 Japan bombed our Hawaiian Pearl Harbor base, so we waged war, concurrently agreeing to war on Hitler’s Germany as Britain begged us to help defend Europe.

All our other wars were offensive, fraudulent wars of aggression, and look what 25 years of it has done to our treasury. We should immediately close our 800+ foreign military bases, furlough all our overseas soldiers, and drastically reduce our “War Defense budget” from the present $1.1 – $1.7 trillion to say the size of China’s, around $300 billion. Help the unneeded defense workers (military) find honest jobs. This would save around $1 trillion per year. Let us emulate China, the largest country in the world which never attacks any other country, and has a splendid military/defense for $300 billion/year.

Next, America did best economically when the highest earners paid the highest tax rates. Bring it back! The USA needs the money. The middle class pays tax, so the rich and healthy corporations should pay their fair share and get us out of the ditch. The wealthy and oligarchic interests must get patriotic for real, simply, honestly, and would bring $1 to 2 trillion yearly.

The last huge pot that can be improved upon: entitlements. They were much closer to being “in balance” until approximately 15 years ago. Since then, the bleeding is now around $3 trillion per year. This can’t be totally balanced because big parts are pure welfare. However, the biggest parts were actually designed to be self-balancing.

Social security basic system: workers and employers pay Social Security tax, and retirees receive income. Medicare basic system: workers and employers pay Medicare tax, and medical providers receive payment. With the present system intact, a huge improvement would be to whittle both sides by tiny percentages. For SSI, tax the employee and employer marginally more (say 1.5% more of earnings/salaries) and change payouts yearly by inflation rate less a small percent (e.g. 0.8%).

For Medicare, shave a small percentage off medical payments (e.g. 1%) and require industry to patriotically accept it. Similarly, increase the employee/employer Medicare taxes. This would lessen our bleed by $1 to $2 trillion yearly, depending on size of adjustments.

Sources: OpenSecrets.org for Lobbyists and PAC donations to each USA legislator. Also see RealSludge.com for PAC donations. PGPF.org; Fiscaldata.Treasury.gov; us-debt-clock.gov; Investopedia.com.

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