U.S. ECONOMIC STATE OF EMERGENCY
NATIONAL DEBT HITS 12 TRILLION DOLLARS FOR THE FIRST TIME IN HISTORY
Dear Fellow Patriot,
We’ve all heard about the Federal debt being an immoral burden for our children and grandchildren. But the day of reckoning with our national debt is now here impacting us!
Forget the grandkids, our economy is at grave risk of collapse right now!
Federal deficits are projected to top $1 trillion every year for the next decade. We’ve doubled our debt to foreign countries in just the last four years. Our debt to China rose by almost 40% last year alone!
In 2008, the interest on the national debt was $451 billion. Think of this. We could send 123,000 kids to college, or double the U.S. Border Patrol, or immunize every two-year old in America, with just one-day’s interest on the national debt!
TELL CONGRESS YOU DEMAND A BALANCED BUDGET AMENDMENT
Sign the Petition to Help America Get Deficit Free
http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
We now face economic collapse. The dollar is in near free-fall. Foreign countries are balking at lending the U.S. more money, instead turning to gold for their currency reserves. And that $9 trillion in new debt borrowing that’s planned for the next decade, it won’t happen. There’s just not $9 trillion to borrow anywhere in the world.
Congress will vote in December to extend America’s indebtedness above $12,100,000,000,000, necessitated because our national debt grew last year by more than $1,400,000,000,000 and will grow this year by $1,400,000,000,000.According to the Obama White House estimates, the national debt will continue to grow by more than $1 trillion for the next nine years. Except it won’t – because it can’t. Remember there just isn-t $9 trillion to borrow.
The dollar is in free-fall. The Ponzi scheme Congress calls Social Security is about to collapse. Foreigners are beginning to balk at loaning the US government more money. That grave economic turmoil our debt and deficit will cause in the future, it’s now here.
TELL CONGRESS YOU DEMAND A BALANCED BUDGET AMENDMENT
Sign the Petition to Help America Get Deficit Free
http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
Lets put the 12 trillion dollar US DEBT into perspective:
What is 12 trillion dollars in terms of time and space?
* If you spent $1 per minute it would take 22,816,000 years to spend 12 trillion. Which would mean you would need to have started spending at the beginning of the Neogene Period or 20 million years before the Ice Age.
* If you had 12 trillion frequent flyer miles, you could travel first-class, round-trip to the SUN and back 67,500 times.
Beyond threatening our economic security, our national debt is imperiling our national independence. We now owe foreign entities $3.448 Trillion – 28.2% more than just 12 months ago!
Three of the five largest holders of US debt should cause you sleepless nights.
* We owe China the most, $797 billion — 38.9% more than we did just 12 months ago.
* We owe Oil Exporting Countries $189.2 billion – 11.5% more than just 12 months ago.
* We owe Caribbean Banking Centers (thought to hold billions in narco-terrorist money) $180.2 billion – 35.5% more than just 12 months ago.
Japan and the United Kingdom round out the top five foreign debt holders, with our debt to the UK increasing an astonishing 173% in just the last 12 months.
TELL CONGRESS YOU DEMAND A BALANCED BUDGET AMENDMENT
Sign the Petition to Help America Get Deficit Free
http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
Can we really expect China to increase its lending to the US by nearly 40% next year, and each of the next nine years? Even if it wanted to, the UK doesn’t have the cash to increase its lending to the US by another 173% next year.
Any one of these debt holders could put the US economy in collapse overnight by selling or even just threatening to sell off their US debt holdings.
We owe them…they own us! Clearly, our national independence is in grave risk.
The Federal government also owes Social Security and Medicare $4.5 Trillion. With the economic downturn, Social Security doled out more money than it took from employees’ paychecks for the first time this year. By 2016 – just seven years from now – according to the Social Security Trustees report, Social Security will move from surplus to permanent deficit as the baby boomers retire.
That “lock-box” presidential candidates like to talk about has never existed. The Social Security ponzi scheme makes Bernie Madoff look like a wayward kid shoplifting a pack of gum.
If we do not balance the budget by the time Social Security moves to permanent deficit in 2016, we almost assuredly will not without a cataclysmic economic crisis.
TELL CONGRESS YOU DEMAND A BALANCED BUDGET AMENDMENT
Sign the Petition to Help America Get Deficit Free
http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
Had enough GLOOM & DOOM?
What’s the solution? A balanced budget constitutional amendment.
History has shown Congress simply won’t act responsibly unless the voters force them to balance the budget. With great voter pressure, Congress came within 1 Senate vote of passage of the balanced budget amendment in 1996 – and the Congress passed balanced budgets each of the next four years.
When support for the balanced budget amendment waned, Congress spent like crazy.
A balanced budget amendment is the only cure to a Congress unwilling to control spending. In fact, Germany passed the BBA just last year.
TELL CONGRESS YOU DEMAND A BALANCED BUDGET AMENDMENT
Sign the Petition to Help America Get Deficit Free
http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
Thats why we launch this week DeficitFree.com – a national push for a Balanced Budget Amendment by July 4, 2013, and a balanced Federal budget by July 4, 2016. These would be the two best birthday gifts we could give our country!
Our first and immediate goal is to bring together 5 Million Balanced Budget Amendment supporters by July 4, 2010, with a minimum of 5,000 from each Congressional district. You can join the movement at www.DeficitFree.com. This non-partisan movement is being launched by some of America’s most successful grassroots activists – not Washington DC politicians.
We need 5 million voters to work together to ensure the Balanced Budget Amendment becomes the most prominent issue in the 2010 Congressional races and in the 2012 Presidential contest.
If we don’t, it won’t be our grandkids who will suffer the economic collapse of our country and our loss of national independence.
It will be us!
Defend America,
Tim Mooney
DeficitFree,com
P.S. The Social Security Trustees predict Social Security will move from surplus to permanent deficit by 2016 – just seven years from now. If we haven’t balanced the budget by then, we likely won’t without a cataclysmic economic collapse. That’s why we need a Balanced Budget Amendment passed now! Please sign the DeficitFree.com petition now! http://deficitfree.com/petitions/petition-for-a-balanced-budget-amendment/
Deficit Free – 406 First Street SE, Third Floor, Washington DC 20003