CAN YOU SPARE A TRILLION? WE OWE $30 TRILLION IN DEBT!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
CAN YOU SPARE A TRILLION? WE OWE $30 TRILLION IN DEBT!
I was lucky enough [TRANSLATION- MY WIFE DRAGGED ME] to celebrate 2022, New Year’s Eve in Las Vegas watching a Bruno Mars concert. As we celebrated midnight on the Las Vegas Strip, my wife pointed out the below national debt signs:
These numbers have bothered me since that morning. I did not realize how much our national debt grew under Obama, Trump, and Biden. In addition to above numbers we owe another ~$80 Trillion in Unfunded Liabilities (Social Security, Medicare, Federal Pensions and Other Obligations)
I DO NOT HAVE ANSWERS TO THE BELOW QUESTIONS OUR DEBT RAISED
- What does this mean for our country?
- How much additional debt can we afford to add?
- Currently, we are in a low-interest-rate environment, so our government is funding this debt with low-interest bonds. BUT inflation for numerous reasons has shot from about two to seven percent. What happens when the FEDERAL RESERVE increases rates starting March 2022?
- What does this mean for my daughter’s future, my future grandkids?
- Why do our elected politicians say NOTHING about this problem?
- What does this mean for YOU?
CONCLUSION – CAN YOU SPARE A TRILLION? WE OWE $30 TRILLION IN DEBT!
I am disturbed by the above numbers, which increase every second! Even with low-interest rates; we pay >$300 billion on interest payments or about nine percent of all federal revenue collected. This number will continue to increase as Biden attempts to push through Build Back Better- BBB. {I have a different word for the last B.}
The federal government has proven time and again to be incapable at efficiently solving America’s problems. We rank close to 30th globally in mathematics, literacy and science education, while we rank number one in money spent per student.
We destroyed >50% of U.S. manufacturing jobs.
Our middle-class today requires both parents working, while 60% of Americans cannot afford a $1,000 unscheduled bill (HVAC, Car Repair, Medical Etc). We are destroying our future.
BBB will NOT solve the above problems BUT add $3 Trillion to the federal debt.
It took decades to dig this hole, and it is past time we stop digging!
Bruno Mars is an outstanding entertainer and funny. If you are a fan, go next time you get an opportunity. He may cheer you up after contemplating our national debt!
LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED!
YOUR GREATNESS IS NOT WHAT YOU HAVE; I.T.’S WHAT YOU GIVE! – EXAMPLE CHARITIES I SUPPORT
St Jude Hospital: https://www.stjude.org/
Wounded Warrior Project: https://www.woundedwarriorproject.org
Folds of Honor: https://foldsofhonor.org
Wilson’s No-Kill Animal Shelter: https://wcnkas.org
TRUST ME – YOU WILL LIKE THE BELOW BLOGS! {IT’S FREE!}
RELAX ALREADY, YES INFLATION IS HIGHER THAN IN THE PAST 13 YEARS, BUT IT’S TRANSITORY!
“WHAT WE BECOME DEPENDS ON WHAT OUR FATHERS TEACH US AT ODD MOMENTS WHEN THEY AREN’T TRYING TO TEACH US”
CELEBRATING BLACK HISTORY – “EDUCATION IS THE MOST POWERFUL WEAPON WITH WHICH YOU CAN CHANGE THE WORLD” NELSON MANDELLA
LEARNING FROM INTELLIGENT MINDS – MANDATORY!
CALIFORNIA HAS THE BEST PLAN YET – TO WIDEN AMERICA’S RACIAL WEALTH GAP!
BE SMART – PLAY MONOPOLY AND LEARN FINANCIAL LITERACY
MAKE YOUR VOTES COUNT!
LEARNING TO MANAGE YOUR BUDGET LEADS TO WEALTH!
STOP DESTROYING YOUR LIFE! – GET OUT OF THAT DAMN HOLE!
{PART 4 OF 4} THE SOLUTIONS TO OUR COMMON NATIONAL PROBLEMS IMPACTING EVERY AMERICAN
(OUR) GOVERNMENTS (FEDERAL, STATE, AND LOCAL) MUST BE BETTER AND MORE EFFECTIVE. WE CANNOT AND WILL NOT SUCCEED WITHOUT THEIR HELP!
THE REST OF US MUST DO A BETTER JOB TOO!
{Excerpts FROM JAMIE DIMON, CEO J.P. MORGAN CHASE, CEO AND CHAIRMAN OF THE BOARD, ANNUAL LETTER- Public Policy}
{PART 3 OF 4} SOLUTIONS TO THE CRITICAL ISSUES DESTROYING OUR COUNTRY AND YOUR FUTURE
PART 3: “OUR PROBLEMS ARE FIXABLE, BUT WILL HAPPEN ONLY IF WE SET ASIDE PARTISAN POLITICS AND NARROW SELF-INTEREST – OUR COUNTRY MUST COME FIRST!” {Excerpts FROM JAMIE DIAMOND, CEO J.P. MORGAN CHASE, CEO AND CHAIRMAN OF THE BOARD, ANNUAL LETTER- Public Policy}
REAL SOLUTIONS TO THE CRITICAL ISSUES DESTROYING OUR COUNTRY AND YOUR FUTURE {PART 2 OF 4}
PART 2: “WE MUST HAVE A PROPER DIAGNOSIS OF OUR PROBLEMS – THE ISSUES ARE REAL AND SERIOUS — IF WE WANT TO HAVE THE PROPE PRESCRIPTIONS THAT LEADS TO WORKABLE SOLUTIONS” {PART 2 of 4 – Excerpts FROM JAMIE DIAMOND, CEO J.P. MORGAN CHASE, ANNUAL LETTER – Public Policy}
REAL SOLUTIONS TO THE CRITICAL ISSUES DESTROYING OUR COUNTRY AND YOUR FUTURE {PART 1 OF 4}
THE AMERICAN DREAM IS ALIVE – BUT FRAYING FOR MANY! } {Excerpts FROM JAMIE DIMON, CEO J.P. MORGAN CHASE, ANNUAL LETTER- Public Policy} {PART 1 of 4
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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
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I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
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