It Is Now Mathematically Impossible To Pay Off The U.S. National Debt

February 5, 2010

A lot of people are very upset about the rapidly increasing U.S. national debt these days and they are  demanding a solution. What they don’t realize is that there simply is not a solution under the current U.S. financial system. It is now mathematically impossible for the U.S. government to pay off the U.S. national debt.

You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt. And if they did that, obviously American society would stop functioning because nobody would have any money to buy or sell anything.

Original Story

U.S. May Lose It’s “AAA” Rating Because of Large Amounts of Debt

November 12, 2008

CNBC reported this week that

The United States may be on course to lose its ‘AAA’ rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.

It goes on to say,

the bankruptcy of the government is not out of the realm of possibility,

oh, that makes me feel better

Then Theres this story

about the same thing, but from early this year, saying if we don’t change things in 10 years we could loss our “Triple A Rating”

so in 10 months we have gone from having 10 years, to now we could loss our “AAA” rating any time. We have successful taken on 10 years worth of debt in 10 months!

Whats even more disturbing though is this line towards the end on CNBC story

In order to solve or stem the economic slowdown, Hennecke suggested the US would have to radically reduce spending across all sectors and recall all its troops from around the world.

You mean we would have to do the things that congressman Ron Paul has been saying for 15 years. The same things that he campaigned on for the Republican nomination in 2008, the same very things that he was laughed at, and told he was crazy for by the other completely uninformed Republican nominees including McCain.

It’s amazing that financial experts are saying the only way to say our economy is go back to the conservative fiscal policies of our founding father, and the not the fake conservative policy of Bush and Cheney, and Romney, and Mccain and the rest of the majority of the republican is so sad.

It’s sad we have drifted so far away from real conservatism. Not all of congress is corrupted, there are good people who have spent their lives trying to serve our country for the better. Number one example is Ron Paul who has been on the United States House Committee on Financial Services for years! screaming that we are headed towards a brick wall, and no one wanted to listen…. most of all the media.