As I start to peck away on this week’s rant it’s the afternoon of Tuesday, November 3, it’s hours away, perhaps days away from us knowing the fate of the presidency, so in limbo I sit and think. What should I start on while awaiting relief or dread, depending on who wins? I’m deciding go with one of my most frequent go to’s and my greatest concern for my fellow Americans (no matter who is president) and that’s nastier than the virus–$27 Trillion and quickly rising debt.
I know, I can hear the yawns from here, but really and truly I (and many others smarter than me) feel the debt could cause an economic pandemic that will come crashing down hard on us all. Before you yawn even wider, please give it some thought, for one thing I have zero confidence either one of the guys who end up being president or whichever party holds the majority of the House or Senate will even make a whimpering sound about the debt.
With that in mind consider this: The federal government now owes $27 trillion that it can’t pay and the country as a whole, including the private sector, owes Trillions of dollars more that it can’t pay.
The government has basically guaranteed America’s 76 million baby boomers (and others) Trillions of dollars in unfunded pensions, medical, and Social Security benefits that can’t be paid, either.
Have you heard anyone sounding any kind of alarm about this in the mess that is 2020? Me neither, but what have and what will they do about it? Instead of making very difficult decisions to make major cuts on spending, both parties are committed to covering the unpayable debts by printing money, an insane policy that could very well lead to bankruptcy, poverty, depression, and inflation, as well as social and political chaos.
How Bad Could It Get ?
Be reminded of just 8 months ago how you were feeling when being concerned about having enough toilet paper, certain foods and other necessities while waiting in lines.
Read the rest at: Do the LIMBO