Written by David Hopkins — Watch Him @teapartyhd.com
Wake Up America … our Representatives need to GET IT … the biggest war of the United States of America is to cut spending and get the debt in CONTROL …. The current national debt stands at … $13.3 trillion dollars, our total debt is $53.9 trillion dollars our budget deficit is $1.3 trillion dollars and our gross domestic product (GDP) is $14.5 trillion.
The Tea Party HD Team has put a DEBT COUNTER on my screen below to demonstrate the DEBT as it goes up second by second during our broadcast today. Hopefully to put into prospective how out of control our debt is.
Currently the national debt to GDP is 92.13% to put this number into prospective on March 4th 1789 the day we became a union our national debt incurred, during the course of the revolutionary war, was 75 million dollars that was 40% of our GDP. Our nations leader knew even then that this was and dismal number and since we were not yet a wealthy country it needed to be paid of. January 8th 1835 President Andrew Jackson made the final installment of the national debt the first and only time in our history, and we came out with a 35 million dollar surplus. America soon after is plunged into the civil war and for the first time in history we pass 1 billion in national debt but after the war is over again our leaders see this as a huge problem and pay back as much of the debit as possible.
In 1913 enters the creation of the Federal Reserve Bank and the modern income tax under Woodrow Wilson at this time our debt to GDP is only 7%. (SHOW CHART = NEW – I will work with you on this graphic )
World war one would bring that number up to 35% and great depression would raise it to 44%. World War II would push our country to the limit, the war to end all wars would skyrocket our debt to GDP to 122% and we reached over 200 billion in national debt.
After the war the economy got back on track and that number fell dramatically by the Vietnam era our debt was 47% and in came Medicare and Medicaid. By 1980 our budget deficit was 909 billion about 33% of GDP by 1988 that number was 2.9 trillion and 54% of GDP by 1992 we had reached 4 trillion and 64% of GDP. Ten years ago our national debt was 5.6 trillion NOW we’ve more than doubled it.
WHO OWES OUR DEBT IS A MAJOR ISSUE TODAY THOUGH
During, WWII our national debt of over 200 billion dollars was borrowed from the American people to finance the war. The American public bought 235 billion dollars in bonds and securities, America didn’t own anyone but itself.
This is important because 50 years later 22.2% would be foreign debt, and in 2007 that number would be 44.5%. With almost half of our debt held by foreign entities when will real financial warfare begin … It’s happened before … . In 1956 Britain and France, both our allies, were fighting for control over the Suez Canal. As the incident escalated, and America wanted to take no part in military action, we turned to financial warfare. Since we held most of Britain’s debt we threatened to dump most of our British bond holding which in turn would have destroyed most of their economy, France and Brittan DAH … what happened …. They withdrew … in weeks. Don’t think this BRIBERY IS NOT HAPPENING NOW
As of 2007 the top three holders of U.S. debt were Japan, China, and Oil Exporters to the amounts of 623 billion, 477 billion, and 133 billion, respectively. COULD WE SOON BE AT A POINT THAT these countries could effectively destroy America without ever firing a single bullet.
So what is the SOLUTION … we need to drastically change not only the government including how the STATES control there destiny … as expected when the 10th Amendment was instituted . JUST LISTEN TO JOE MILLER FROM ALASKA … they have a SOLUTION but the Government CONTROLS THE STATES RESOUCES
Around the 1960’s and 70’s our personal savings rate was around 12.4% of our annual income in the 2000’s that number had fallen to -2.9%. Our personal savings and our personal debt do reflect on our total gross debt, as our personal debt goes down so does the gross total. At the rate we are going our debt to GDP by 2040 will be 244% there won’t be anyone to buy our debt and there won’t be the country we know and love today.
MOST STILL BELIEVE, The American dream is to further our country to give the next who receive it a better quality of life, if this is to remain we must challenge those we send to Washington and hold all those and ourselves accountable for how we spend and what its spent on.
PLEASE type in national debt in your search engine and look up how big of a problem this really … growing daily!
It’s been 8 hours since started writing this show our national debt has gone up 1,851,700,000.
This is Our Biggest War by David Hopkins … For Tea Party HD