17 Statistics That Prove We Have Sold Our Grandchildren Into Perpetual Debt Slavery Read more: http://www.busin
30 years ago the U.S. national debt was a bit under one trillion dollars, and at that time it was considered a huge national crisis. Today, the national debt is 14 times larger and the years ahead look apocalyptic at this point.
We have accumulated the biggest mountain of debt in the history of the world, and our children and our grandchildren will be burdened with it for the rest of their lives. All of our politicians keep talking about how it is vitally important that we do something about all of this debt “soon”, but they just can’t seem to stop wildly spending our money. They keep telling us that now is not the time for deficit reduction because it would harm “the economic recovery”, but the “right time” for deficit reduction never seems to come along.
According to a recent U.S. Treasury report to Congress, the U.S. national debt will reach 19.6 trillion dollars in 2015.
If the federal government began repaying the national debt at a rate of $10 million dollars a day it would take approximately 3,800 years to pay off the national debt.
We have literally stolen the future.
The America that we have all been enjoying so much today is going to be wiped out by all of this debt.