The Debt Ceiling

The Debt Ceiling

By Expotera
September 9, 2017

Yesterday Congress put the United States of America one step
closer to, “Bankruptcy” by voting to raise, “The Debt Ceiling”
once again.

The debt limit, also known as, “The Debt Ceiling” is the maximum
amount of money the U.S. Treasury can borrow and by increasing,
“The Debt Ceiling” this allows the Treasury to continue to borrow
even more money to pay for the Government’s current financial
obligations.

On March 16, 2017 the statutory debt limit was reinstated,
freezing the national debt at just under $20 trillion dollars.

Since then, the Treasury has been forced to employ,
“Extraordinary Measures” that enable it to manage the
government’s finances for a limited amount of time.

According to the Congressional Budget Office those, “Extraordinary
Measures” will likely be exhausted in early to mid-October.

Now most Americans say that they put and they place a very high
priority on strengthening the Country and looking out for the next
generation.

Yet the Federal Government is on an highly irresponsible, as well
as highly unsustainable fiscal path with spending programs growing
more quickly than the economy can keep up with and with tax
revenues projected to chronically fall short of all of the spending.

Robert H. Hem­phill is the Cre­dit Mana­ger of the Federal Reserve
Bank of At­lanta and here is how he explains our Country’s current
financial situation:

“Central bank monopoly on the creation of legally recognized
‘tender’ must be maintained in order for the simmer-the-frogs-to-
death-slowly game plan to unfold. The fractional reserve banking
Ponzi depends on this absolute cornerstone for its very survival.
It can’t fulfill its single mandate of creating booms and busts,
repeatedly, to ensure that all the best assets get concentrated
into the fewest hands (and the hands that empower the fractional
reserve banking racket). If all the bank loans were paid up, no one
would have a bank depo­sit, and there would not be a dol­lar of
cur­rency or coin in cir­cu­la­tion. This is a stag­ger­ing thought. We
are com­pletely depen­dent on the com­mer­cial banks for our money.
Someone has to bor­row every dol­lar we have in cir­cu­la­tion, cash
or cre­dit. If the banks create ample syn­the­tic money, we are
pro­s­per­ous; if not, we starve. We are abso­lutely with­out a
per­manent mone­tary sys­tem. When one gets a com­plete grasp
upon the pic­ture, the tra­gic absur­dity of our hope­less posi­tion
is almost in­cred­ible – but there it is. It (the bank­ing prob­lem) is
the most im­por­tant sub­ject in­tel­li­gent per­sons can in­ves­ti­gate and
reflect upon. It is so im­por­tant that our pre­sent civi­li­za­tion may
col­lapse un­less it is widely under­stood and the defects reme­died very soon.”

President Herbert Hoover once said, “Blessed are the young for
they shall inherit the national debt.”

Young Americans now stand to inherit a Country in unprecedented
crisis and debt.

The debt, endless wars, inequality, climate change, corruption
and corporate control of our government and democracy, are
symptoms of interconnected economic, ecological, and political
system failures that show few signs of correcting themselves.

The overarching trends are so grim that some people like
Bob Massie, President of the New Economics Institute have
already thrown in the towel, dismissively labeling the current
cadre of folks under forty as, “Generation Screwed.”

Now over the past 16+ years George Bush and his Administration,
along with Barack Obama and his Administration, have now stolen
well over, “$15 Trillion Dollars” from the United States of America
and the comments below by former U.S Senator John Danforth from
Missouri, pretty much sums up this entire, “Post” as well as what has
now honestly happened to our Country since September 11, 2001:

“I have never seen more Senators express discontent with their
jobs….I think the major cause is that, deep down in our hearts,
we have been accomplices in doing something terrible and
unforgivable to our wonderful country. Deep down in our heart,
we know that we have given our children a legacy of bankruptcy.
We have defrauded our country to get ourselves elected.”
– Senator John Danforth