Attack of the National Debt

        Hold onto your debit card!

       Here is what NASA says about our national debt which will increase if the Democrats get their spending bill passed. It is already almost 29 Trillion and Democrats want to spend several trillion more, with no end in sight.

 https://www.grc.nasa.gov/WWW/K-12/Numbers/Math/Mathematical_Thinking/how_big_is_a_trillion.htm         

How Big is a Trillion?     In the U.S., one trillion is written as the number "1" followed by 12 zeros (1,000,000,000,000). One year of clock time = (60sec/min) x (60 min/hr) x (24 hr/da) x (365.25 da) = 3.16 x 107 sec     One trillion seconds of ordinary clock time = ( 1012 sec)/( 3.16 x 107 sec/yr) = 31,546 years!     Six trillion seconds equals 189,276 years. Now, as an aside, along with the nearly six trillion miles in the light-year, you might be interested to know that there are nearly five trillion dollars in the current U.S. national debt. (It is now 6 times that) Is it any wonder that our Constitutional Republican politicians in Washington are concerned? Editor's Note: That is 6 dollars for every mile light travels in a year! At 186,000 miles per second. (An interesting bit of trivia: If one were to count the national Debt at the rate of one dollar per second, he or she would have to use a mechanical counter to click off the digits. Why? Because, if he or she counted in the usual way, saying "one, two, three, …" etc., there would be numbers whose names are so large, that it would take more than a second of clock time to pronounce them. For example: "Nine hundred and ninety nine billion, nine hundred and ninety nine million, nine hundred and ninety nine thousand, nine hundred and ninety nine," takes about 8 seconds to pronounce.) https://usadebtclock.com/

Here is a list of debts that are running out of control.

https://www.pgpf.org/national-debt-clock

• August 31, 2012: $16 trillion
• Oct. 17, 2013: $17 trillion
• Dec. 15, 2014: $18 trillion
• Jan. 29, 2016: $19 trillion
• Sept. 8, 2017: $20 trillion
• March 15, 2018: $21 trillion
• Feb. 11, 2019: $22 trillion
• Oct. 31, 2019: $23 trillion
• April 7, 2020: $24 trillion
• May 5, 2020: $25 trillion
• June 9, 2020: $26 trillion
• Oct. 1, 2020: $27 trillion

The Debt Clock Warning

     The debt clock's warning is even more critical today than before. Two factors that allowed the U.S. debt to grow safely are now being withdrawn. First, the Social Security Trust Fund took in more revenue through payroll taxes leveraged on baby boomers than it needed.

     This money should have been invested to be available when the Boomers retire. But, the Fund was "loaned" to the government to finance increased deficit spending on Socialist Green New Deals. This interest-free loan helped keep Treasury Bond interest rates low, allowing more debt financing. It's not really a loan, though, since it can only be repaid by increased taxes when the boomers retire, as they are doing now.

     Many of the foreign holders of U.S. debt like China are investing more in their own economies. Over time, diminished demand for U.S. Treasuries could increase interest rates, thus slowing the economy. Lessening of demand puts pressure on the dollar. As U.S. dollars and dollar-denominated Treasury securities become less useable, their value declines. As the dollar declines, foreign holders get paid back in currency that is worth less, which further decreases demand.