Two Words, Four Presidents: How America Became the Poorest Nation in the World
Op-ed by TheWiseOldFart Most Americans ignore what the content of this story is all about. Terms like “the national deficit,” or “national debt” are a mystery to most Americans and therefore not an issue of great importance. The simplest way to explain this situation is to use household economics. If your household income is $5,000 each month, but your family’s expenses are $6,000 a month, you have a very serious problem. Our nation has a deficit of about 37 trillion dollars. That’s right, $37,000,000,000,000.00. Our great grandchildren will inherit this debt, and likely pass it on to their children. POLITICIANS ARE BLOWING SMOKE UP YOUR ASS WHEN THE CLAIM THAT AMERICA IS THE “RICHEST COUNTRY IN THE WORLD” If your monthly bills exceed your gross income, you are worse than poor. There is no feasible way to reverse the situation without removing all wasteful spending immediately, or find a way to increase your income. It’s the same with a country. For the first time since 1946, our natio...