Prepare...OR you Will FEAR!!!!!!!!!!
Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.
The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.
That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.
The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.
"We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it's not backed up by a house," says David Walker, former U.S. comptroller general, the government's top auditor.
President Obama walked into this mess the day he took office...all of this debt was incurred PRIOR to his arrival and he and the rest of us as citzens of the United States must deal with this growing obligation much sooner than many are currently thinking.
And much of the above debt was incurred in the last 10 years!!!!!!!!!!!!!!!!!!!!!!!!!!!
But wait....the above is only half the picture...if you include Private and Non Federal Debt(state and local govt)...the number is much much higher....at least another few hundred thousand per family that MUST BE IMMEDIATELY born by the American consumer and not the printing machine of Washington.
Debt is destroying our economy and under the current zombie bank quantitative easing FU virus injecting policy...our economy will mathematically contract at least 50% over the next few years as American's spend down their saving to pay a debt obligation that's simply impossible to pay back.
Just as you or your children are willing or compelled to die for your country if our government declares war....prepare to hand over every dime you have(NO MATTER HOW RICH YOU ARE) to fight an unsustainable debt burden suffocating every inch of our economic fabric and threatening the economic viability of our existence.
Pick one...America's economic existence or your money??? What do you think your polictians are going to choose.
Look around, your fellow countrymen are suffering everywhere losing jobs by the millions, getting wage cuts, benefits elimiated, families thrown out on the streets with homes foreclosed...and you don't think this is going to affect you?????
As the numbers of the suffering keep rising, so will the burden on the fewer not suffering.....as the scale's balance keeps increasing to the suffering.........the numbers will become so large and system start to crumble that at some point it will affect you and you will have to care.................PREPARE!!!!!!!!!!!!!!!!!!
The FU Virus is now a pandemic....the disease is widespread......tens of millions have been Zombulated....welcome to Zombie Nation as we continue with a Zombie Bank policy which will only accellerate the process.