Our Broken Clock

 

 

"To you my children and grandchildren, I bequeath the following - nada, zip, zero, nothing"

 

 

Hey! What in the world? Who hijacked ye old Debt Clock? I guess someone did not like the time it was telling so that person(s) just hijacked the clock. Whoever said "time does not stand still", was not talking about the Debt Clock. I guess since $17B is considered to be a bad number, we will keep it just under that number for political purposes. Its okay - nobody will probably notice. That is, nobody except those who are paying attention.

 

This brings me to a side note. As you can see from the chart at the top of this page, the projected interest to service our debt by 2020 (a mere 7 years down the road), could be 28%. However, it is the Federal Reserve Board, that group of unelected bureaucrats who control the nation's purse strings, that can make that number move. In other words, just the hint of Quantitative Easing (forever) coming to an end at the end of the year, sent the market heading south faster than a snowbird in January. When the Fed decrees the days of "free money" have come to an end, head for the bunker. At the end of every party comes the hangover - and this one is going to be a doozy.

 

So what is the interest rate on a mortgage of $17B? A number with a whole bunch of zeros behind it. If you want a small example of what is coming, go out today and max out your Visa card. When the next bill comes, look to see what the interest charge will be for just one month. Some charge cards will also tell you how long it will take to pay off the balance if you choose only minimum payments. If you max out your Visa card and only make minimum payments, it will end up being your kids or grandkids to finish off.

 

Again looking at the chart at the top of the page, we are headed for a place where only 8% of every dollar will be allocated for discretionary spending. Wow! Can anyone predict what the Left will say about that? Hint - WE ARE NOT TAXED ENOUGH! We can ignore the trending and end up taxing like France - or we can cut back on what we have promised and end up with unrest like in Greece. Rather than look at Europe and learn from their mistakes, we have instead decided to follow in their footsteps. Even with healthcare, which is a DISASTER in Europe, has become our roadmap for Obamacare.

 

So here we are kids. In Star Wars, a Jedi mind trick was to say, "These aren't the droids you're looking for." In our world however, the "powers that be" are using other mind tricks to tell us, "Pay no attention to that broken Debt Clock." Meanwhile, the mad spending continues, and nobody seems to care about tomorrow.

I say this to my children and grandchildren yet unborn - I am sorry. You deserved better. My parents did not leave a mess like this for me. But I am leaving a huge mess for you. May you find it in your heart to forgive me and the rest of us, who either by commission or omission, destroyed your future.