Hardly Anyone In Washington Seems To Care About The Future At This Point – Investment Watch

by Michael

Our politicians in Washington are literally destroying our future. But do you see anyone on the street protesting his calamitous policies? By now, you’ve probably heard that the US national debt has reached $31 trillion. To be more precise, as I write this article, the US national debt currently stands at $31,142,591,307,260.01. It is the largest single debt in the history of the world and, given enough time, would completely destroy our economy on its own. Unfortunately, almost no one in Washington seems to care about our rapidly exploding debt right now.

Back in the day, the Republicans at least put on a show for us. They would scoff at the national debt, but then give the Democrats pretty much all the spending they wanted anyway.

But now they have discovered that this charade is no longer necessary, because most of their constituents don’t care.

So most of our politicians don’t even pretend to care about fiscal responsibility anymore. In recent years they have suffered the most borrowing and spending in our entire history, and there is no sign that they ever plan to stop.

They borrow and spend trillions and trillions of dollars, and they expect you and your children and your grandchildren to pay for it.

Of course, that will never happen.

We will never pay back the $31.1 trillion we borrowed.

Instead, we’re just going to push the throttle all the way to the floor until we finally get off a cliff.

In the month of August alone, the US government ran a budget deficit of $219.6 billion…

Some things never change, like the federal government spending more money than it has month after month after month.

August was no different. The US government ran a massive $219.6 billion budget deficit last month, according to the latest monthly Treasury statement. That made July the second-largest monthly deficit in fiscal year 2022.

Unfortunately, I didn’t hear anyone in Washington making a major speech when this happened, because the national debt isn’t even considered an important national issue these days.

But our entire standard of living depends on the value of the US dollar. Having the world’s default reserve currency has been such a huge advantage for America, and now we are undoing it.

The rest of the world can see what we’re doing.

We are turning our currency into toilet paper and it is only a matter of time before it completely collapses.

Today, our politicians are stealing over $200 million from future generations of Americans every hour of every day.

Just think about it.

The old Washington geezers know they are near the end of the road.

So they know they never have to pay any of that money back.

But they can spend on whatever they want.

Of course, it was inevitable that all this borrowing and spending would end up creating rampant inflation, and now we are facing the worst inflationary crisis in our history.

Yes, even worse than the Jimmy Carter era of the 1970s.

The Federal Reserve is rapidly raising interest rates in a desperate attempt to control inflation, but this is causing all sorts of problems.

For one thing, interest payments on our national debt will soon exceed a trillion dollars a year…

According to the Congressional Budget Office, that’s exactly what will happen. Interest payments are projected to triple from nearly $400 billion in fiscal 2022 to $1.2 trillion in 2032. And it’s worse than that. The CBO made that estimate in May. Interest rates are already higher than those used in your analysis.

Unfortunately, I don’t think the current system will survive until 2032.

Previous generations handed us the keys to the world’s reserve currency and the greatest economic machine the planet had ever seen.

Unfortunately, we took these precious gifts and completely destroyed them.

As a society, we have lost all regard for long-term consequences.

Let me give you another example. Joe Biden just announced that he will release more oil from the Strategic Petroleum Reserve…

“At the president’s direction, the Department of Energy will release an additional 10 million barrels from the Strategic Petroleum Reserve to the market next month as part of the historic release of 180 million barrels the president ordered in March. And the president will continue to direct SPR launches as needed,” he said.

What an incredibly stupid thing to do.

It’s only supposed to be used in the event of a national emergency, and what Biden has decided to do is absolutely unprecedented.

The fact that things aren’t looking good for his party in November isn’t an “emergency,” and Sen. Tom Cotton isn’t amused…

Wow, say critics, including Sen. Tom Cotton (R-Ark.).

“Well, it’s called the Strategic Petroleum Reserve. It’s not the political oil reserve,” Cotton told Fox News’ Laura Ingraham on Wednesday night.

Someday we will need this oil.

But thanks to Biden, most of it will be gone.

If we were in the middle of a major war, the world’s flow of energy supplies would suddenly be severely restricted. This is the type of emergency scenario for which the Strategic Petroleum Reserve was designed.

Unfortunately, thanks to warmongers in the Biden administration, we will soon find ourselves simultaneously fighting wars with Russia, China, North Korea, and Iran.

Most Americans have no idea what goes on behind the scenes. Things are getting very, very tense with North Korea, and a major war in the Middle East could break out at any moment.

World War III has already started, but luckily we haven’t gotten to the part where billions of people die yet.

Unfortunately, our current group of leaders couldn’t care less about the long-term future of humanity.

So they continue to pursue incredibly self-destructive policies, and we will all pay a very heavy price for their folly.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *