The nationwide debt stands at several trillions, while the federal finances shows in the neighborhood of even more. To get an idea of what these liabilities mean, consider that this funding is what must be contractually paid out in entitlements over the lifetime of those presently enrolled in these programs, say, from now and over the next 20 to 30 years. And that will become progressively larger as the Baby Boomers begin checking into the systems.
This is merely the highlighted treatment of the issues and doesn’t take in figures on the levels below the federal programs and subsidies: state, and related deep concerns over inflation, tax increases, brain drain, not to mention the industry handouts/loans, funds to individuals and non-governmental organizations under Acts in force, such as new mortgages and existing mortgage relief.
When you imagine Medicare supplement Plans 2019, like those found at https://www.medisupps.com/we see, and hear the word “untenable”. Another phrase is the degrading of the currency. More so another is “breaking the buck.” Are these figures actually important to us? Well, yes. One example will suffice: the interest alone on just the national debt is billions of dollars a year. And that is going to get much higher. Just recently on CNBC, a professor of finance designated the U.S. Dollar as fiat currency, which it is. Watch just about any television station and note all the advertisements about gold. Yet, many Americans just roll on as if everything is going to be just fine. Let’s hope for that miracle. The American People have been through some very difficult times over the past 250+ years and have managed to rebound. This could happen again. This time, however, things are quite different and difficult.
This does not mean that Americans should just roll over, play dead, and let the federal government take care of everything. As a nation, will we file for default and a kind of national bankruptcy? This may be a legitimate scenario; and it could be solved through establishment of a new currency sometime in the future, after everything gets paid off in near worthless U.S.
currency. But, nations and the people in them get hurt badly. Russia, Panama, Argentina, Germany, Cuba, all went through this, and the people there know just how bad this is: a national nightmare from which one cannot awaken. In this event, it almost seems like aging is a thing to be concerned about.