Get Ready To Pay MORE TAXES.....
WARNING: WHAT YOUR BANKER CAN'T TELL YOU SO THEY CAN KEEP THEIR JOBS:
As you know, since QE1 I have been sounding off on the growing Federal Debt......but like homeowners in the housing bubble, some of you saw your investments rise so most of you really didn't care despite the destruction to the real economy, your kids future and millions of your fellow citizens.
Since then our debt, Federal Debt, has grown from $6 Trillion to now approaching $17 trillion in about five years. THIS IS MONEY WE AND OUR KIDS OWE......
In order to accomplish this, interest rates dropped to multi-hundred year lows.
NOW INTEREST RATES ARE RISING AGAIN.
Every 1% rise in interest rates costs we taxpayers about $170 Billion dollars. If interest rates rise just 3% to still historically low levels, just NEW interest obligations will consume half of current income tax receipts and there won't be much money to fund anything else, including our schools.
As a matter of fact, MOST OF YOUR INCOME TAXES will have to double simply to cover the rising interest obligation.
And what if you don't pay more taxes?......well your investments, jobs and businesses (which is now essentially all of them) that are now dependent on Federal Debt and Federal Spending will fail.
Have you kissed your banker today? Because if interest rates rise just a little....your attitudes about the last few years will quickly change.....just like many homeowners a few years ago that got screwed by bankers infecting our system with too much debt.
Read more at http://globaleconomicanalysis.blogspot.com/2013/05/eu-requires-spain-to-raise-vat.html#EZKTSI6bPIJSemiQ.99