America Is Broke | Letters | Salt Lake City | Salt Lake City Weekly
We need your help.

Newspapers and media companies nationwide are closing or suffering mass layoffs since the coronavirus impacted all of us starting in March. City Weekly's entire existence is directly tied to people getting together in groups--in clubs, restaurants, and at concerts and events--which are the industries most affected by new coronavirus regulations.

Our industry is not healthy. Yet, City Weekly has continued publishing thanks to the generosity of readers like you. Utah needs independent journalism more than ever, and we're asking for your continued support of our editorial voice. We are fighting for you and all the people and businesses hardest hit by this pandemic.

You can help by making a one-time or recurring donation on PressBackers.com, which directs you to our Galena Fund 501(c)(3) non-profit, a resource dedicated to help fund local journalism. It is never too late. It is never too little. Thank you. DONATE

News » Letters

America Is Broke

by

1 comment

America is broke. It seems only Ron Paul tells this fact. Alas, and he’s called a “nut” by most folks. Let’s look at some government results. Our so-called national debt now surpasses $15 trillion, and that’s not counting the more than $50 trillion our government owes in unfunded retirement promises.

And with this, our present progressive radical and liberal leaders (both parties) in the Senate agreed three months ago to raise our debt ceiling by $1.2 trillion more, the sixth such increase since President Obama took office three years ago.

In 2011, the government paid $454 billion in interest, a third of this going to our “best friend,” China. In December alone, maintenance on this debt cost us $98.6 trillion. Trillions of our dollars are today flying out of America into other countries. And what do our own leaders tell us? What is their answer? “Put more air in our tires. Tax all the super rich.”? What huge lies! What would it take to actually pay the bills, simply to finance one year of federal spending?

Statistician David Burge, author of the famed Iowahawk website, gives us all one simple suggestion to finance 2012 (one year) of our government spending. Simply take all the profits of every Fortune 500 company (plus global profits); take all the TV ad money spent on all 45 Super Bowls; take all the combined salaries of all the players in the NFL, MBA, NBA, NHL; take all the PGA Tour monies and all the tour winnings plus NASCAR; and take all the household earnings in America in excess of $250,000 and all the money (every penny) from every billionaire and near billionaire— take all their money. Take every dime our nation is spending on our (so-called?) wars in Iraq, Afghanistan; take everything we now give in foreign aid; then make every American man, woman and child, plus all illegals, chip in another $40 each. Voila!

The bad news is that even with all the above, this would only pay our bills for 2012. And the financial wherewithal of our nation would be gutted. So let’s keep on “budgeting” ourselves $1.5 trillion deeper into debt (we’re now broke!) each year. It is lunacy.

I’m so happy for the change our government has awarded us. Are they all such great nice persons? Sure! But sorry, we’re all broke.

Does anyone else get the above truths? We must stop spending our nation out of existence.

If all families that take in $4,000 monthly would spend $6,500 every month, today, we’d all be doing better than our own government. Truth!

Norman Stiles
Ogden

Comments

Showing 1-1 of 1

 

Add a comment