- I hear almost everyone but you talking about how well the economy is doing. Why?
Because I have a different opinion of the economy than most other people.
First off, I don’t look at it with a pre-determined political agenda. Next, I look at “macro” indicators. Those are the really big picture indicators that will show what is happening to the economy overall…not just a single slice (i.e. “micro” indicators). US national debt is one macro indicator to keep an eye on.
National Debt as % of GDP
- Year 2000 (last year of Clinton’s Presidency) % of GDP 55%
- Year 2008 (last year of Bush’s Presidency) % of GDP 68%
- Year 2016 (last year of Obama’s Presidency) % of GDP 104%
- Year 2018 (second year of Trump’s Presidency) % of GDP 105%
Gross $’s of National Debt
- Year 2000 (last year of Clinton’s Presidency) $ 5,600,000,000,000
- Year 2008 (last year of Bush’s Presidency) $10,025,000,000,000
- Year 2016 (last year of Obama’s Presidency) $19,573,000,000,000
- Year 2018 (second year of Trump’s Presidency) $22,776,000,000,000
As you can see our national debt is 100% out of control and will never be brought back to reality…and it will destroy America. And it doesn’t matter who is the President (2 Republicans, 2 Democrats)…they are all spending us into destruction!
Average Annual Increase in National Debt During Presidency
- Clinton $ 157,000,000,000 average annual increase in national debt during Presidency
- Bush $ 550,000,000,000 average annual increase in national debt during Presidency
- Obama $1,193,500,000,000 average annual increase in national debt during Presidency
- Trump $1,601,500,000,000 average annual increase in national debt during Presidency
At the current rate, if Trump is in for 8 years, he will add far, far more to the national debt than Obama at his current spending rate. You can clearly see it is getting worse with each president…and exponentially so with the current President. Based on?
Well, compare another key macro indicator, gross US Government Tax Revenue…
US Government Tax Revenue
- 2000 Clinton $ 2,030,000,000,000
- 2008 Bush $ 2,520,000,000,000
- 2016 Obama $ 3,270,000,000,000
- 2018 Trump $ 3,330,000,000,000
Why is the $ amount of US tax revenue important? Because that shows how much money is being sucked out of the hands of US citizens and US corporations by the US federal government. That means money being forcibly taken from families and companies and placed in the hands of politicians to squander as they want to.
Now, compare the Gross $ National Debt, $ Annual Debt Increase, with the gross US Government Tax Revenue…
Note: Trump has the highest taxes in the history of the country and also the largest annual increases in the national debt. The US government, under Trump, is sucking $60,000,000,000 more tax money annually out of Americans than Obama…and adding 34% more to the national debt than Obama. Not that Trump is a bad guy…he is just another horrible fiscally responsible President in a long line of horrible Presidents.
Now you get a truly terrifying view of what is happening to our federal government spending…we are going down the sewer pipe. And yes, the chart clearly shows that Trump is the absolute worst of the Presidents when it comes to placing our country further into debt. But, the real point is this…regardless of the President, regardless of the party in the Whitehouse, regardless of what any politician says…ALL the politicians (Democrats or Republicans, Congress or Presidents) are destroying the US economy…period. That is an undeniable fact!
It is only a matter of time before the world says…”Ah, no more trust in the US dollar.” At that point the US economy crashes…a hard, hard, crash.
If you weren’t already sick…try this to make it even worse…
And if you aren’t fully aware of what an “unfunded liability” is…
An unfunded liability is a liability that does not have current or projected assets to cover a legal liability; therefore it is said to be unfunded.
Yeah, you getting the picture now? The US Government has legal obligations in the future of $105+trillion with no money or assets set aside to pay them. How do you think that is going to work out for us?
So…GUILTY as charged…I have a very, very pessimistic picture of the US financial condition…the facts and figure show it.
And another couple of real indicators that very few folks pay attention to is the % of wealth among middle class and the % of middle income population compared to low and high income populations.
Why is that important you ask. You hear that the employment rate is at historic lows. You hear repeatedly ad nasuem that we have full employment and times are great for American workers. OK, the employment rate is a “micro” indicator. There are far more important macro indicators.
Now…combine those two facts that are displayed in the charts and you get a DISAPPEARING middle class!!! And you are also seeing a rapid and substantial increase in the rich getting richer. And a large increase in the poor getting poorer.
So let me ask you this…
“If the rich are getting richer, the middle class is getting poorer and disappearing, and the poor are getting poorer, what does that mean to you…in common sense terms?”
I sure hope you are planning to deal with what is coming! What do you think happens when the rich get richer, the middle class disappears, and poor get poorer? If you don’t know that answer to that question…research the Roman Empire. Or any other empire that has ever existed. Then go throw up. Once you rinsed that out of your mouth…start preparing for the inevitable.
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