Today I was thinking about how over 50% of the people in America now get some kind of government check every month. Sure, people can justify that they deserve the money, sure. But at some point, the checks will have to stop. And what will happen then? The United States is BANKRUPT. I know it’s hard to fathom, but it true. Seriously we are not even running on fumes. We have been this way for a while. The US’s own financial statements show that the government’s ‘net worth’ is NEGATIVE $17.7 trillion. The US is already borrowing money just to pay interest. Social Security and Medicare? Well, the US government’s own numbers estimate these obligations at nearly $42 TRILLION, completely dwarfing what they owe China, or anyone else.
Check out the US National Debt Clock
Fun Fact : Babyboomers are now retiring at the rate of 10,000 per day.
I invite you to fact check this blog post. I sincerely hope I’ve got this all wrong.
