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America’s Future: Growing Deficit, Shrinking Economy, Imploding Dollar and Exploding Inflation
Posted by Lorimer Wilson
The new debt ceiling deal legislation will add $2.4 trillion to the $14.3 trillion national debt in a little over a year – and we don’t even start saving money until after the debt reaches $16.7 trillion! This bill doesn’t even cut the deficit. It just slows the growth of government spending to around 8% a year! So, even if Congress cuts $2.1 trillion out of the budget over the next 10 years, we will still be running annual deficits of more than $1 trillion…That means that in addition to a deficit that will continue to grow we can look forward to a shrinking economy, an imploding U.S. dollar and exploding inflation. Some future! Let me explain.
Things have turned so negative recently that there is increasing chatter on mainstream media about a third round of quantitative easing, or money printing (QE3) which would surely mean an imploding U.S. dollar and exploding inflation. What is happening today? The dollar is tanking, gold is on a tear, and the economy is headed for another fall.
What do you think will happen to tax receipts coming into the federal government if the economy tanks? If you guessed the government will collect less money in taxes, you are correct. Not only will the deficit grow, but the $2.4 trillion that is supposed to last through the 2012 election is going to be used up at a much faster pace.
I hate to break this to Congress, but America does not have 10 years to get its house in order. There have been recent predictions by financial experts of another economic meltdown by the end of 2012 or beginning of 2013… Something has to be done now, and we just lost an opportunity to truly turn the ship of state around.
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Short URL: http://www.veteranstoday.com/?p=129658
Posted by Veterans Today on Aug 9 2011, With 0 Reads, Filed under Economics & Markets, Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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Yes, these are the numbers that I came up with also. America is still going to be running up deficits of $1 trillion dollars a year; it does not have the political will to live within its means. Thankfully the Europeans know they have to have austerity in order to survive and they will come out looking good – eventually. The Europeans are long term players this is the reason why the market still have confidence in the Euro.
I listen to CNBC and one of the guys on that says America has to grown it ways out of the recession, but that can only be done by causing a bubble which will have to burst. America has to start living within its means. Kicking the can down the road is not going to work.
It’s not a matter of “political will”, it’s a matter of criminal insanity. Havinv fully subverted our society and our political process, Jewish supremacists now run “America”, and they run it with an iron fist. And they have an agenda. Their agenda is to rule the world, and U.S./NATO is their hammer.
What do they care about social security for the Goyim? What do they care about the collapse of the dollar and the possibility of WW3. They care not at all. We’ll either have Jewish world rule or we’ll have no world. That’s our situation.