Skyrocketing Debt Puts America in a $20 Trillion Hole [Video]

Craig Huey Economics, Government, Congress, and Politics Leave a Comment

Do we want to be another Greece?

Or maybe Japan?

Portugal? Spain? France? Italy? Canada?

These are countries with some of the worst Debt-to-GDP ratios.

These are unsustainable debt loads … and America is nipping at their heels.

The U.S. national debt shot over $20 trillion. We are somewhere in the middle of the pack of debtor nations.

This is shocking, considering what it can mean to you and your family.

It means we are paying China, the banks and Wall Street massive interest payments.

This money should be used for paying for our military and security, justice and infrastructure.

Our national debt is $20,203,700,000,000 … and by the time you read this figure it will be even higher. CLICK HERE to see our debt in real time.

To get Hurricane Harvey relief spending quickly, President Trump, Democrats and Republicans got the spending they wanted by suspending the debt limit.

This is a bad deal for taxpayers and our children. This allows the debt ceiling to rise even higher.

In America, right now you are born into more than $61,000 in debt. That’s your share.

Our debt now exceeds the value of everything that America produces in a year!

To get what we WANT now with a promise to pay more money for it LATER just doesn’t work.

This kind of debt will lead to economic recession and depression. And to inflation and maybe hyperinflation.

Just how big is $20 trillion?

If we could round up all the U.S. currency in existence – every dollar bill, quarter, penny, everything – we would still need another $18 trillion.

All the gold that has ever been mined couldn’t cover half our debt.

Like Greece, we will be forced to make sudden cuts because we cannot borrow more to finance our spending addiction.

Whoever said money doesn’t grow on trees underestimates our politicians.

One proposed idea is to reduce future spending increases to the rate of inflation. Nope, Congress won’t even do that.

I wish Congress could see the big picture. This year we will pay more than $250 billion just on interest payments alone! That’s money wasted.

Hey, political leaders, are you listening?

Cut spending now!

Here is an eye-popping 2-minute video that visualizes our $20 trillion debt in stacks of $100 bills.

What do you think? Write me at [email protected]

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