America's Financial Armageddon

Short History of U.S. National Debt:
-1835 Zero national debt
-1864 $2.7 billion
-1920 $25.9 billion
-1930 $16.2 billion
-1940 $43 billion
-1950 $257 billion
-1960 $290 billion
-1970 $389 billion
-1980 $930 billion
-1990 $3 Trillion $233 billion
-2000 $5 Trillion $674 billion
-2008 $10 Trillion $24 billion
Monetary figures above are from here

Observations from figures above:
1. U. S. national debt for all Presidents until Reagan
less than $1 Trillion dollars
2. USND for eight years of Reagan and a little of Bush 41
$3 Trillion $233 billion
3. USND for eight years of Bush 43
$10 Trillion $24 billion
4. Ronald Reagan and George W. Bush were the two
Apostles upon which the current massive U.S. national
debt is founded.
5. George H. W. Bush and Bill Clinton were disciples of
the first Apostle, Ronald Reagan.

A 30 Minute Video Bombshell On America:
Among people featured in the video Bombshell:
Presidents Ronald Reagan, George H. W. Bush, Bill Clinton,
and George W. Bush as well as, among others,:

Robert Rubin, Bill Clinton's Secretary of the Treasury
1995-1999:
"We suffer from a fiscal cancer...
if we do not treat it we could have
catastrophic consequences for our country".

Paul O'Neil, George W. Bush's Secretary of the Treasury
for 23 months 2001-2002 (and in reference to any nation
including America):
"when you get extended to the point you can't service
your debt your finished".

Some Other things you will hear and see on the video:
1."This issue represents the potential fiscal meltdown of this nation".

2. America as of Feb 2007 has actually "dug itself into a
$53 Trillion dollar hole".

3. The six pillars of the 2008 U.S. budget:
-Social Security-$610 Billion
-Military-$607 Billion
-Medicare-$330 Billion
-Money interest on the U.S. Debt-$244 Billion
-Medicaid-$204 Billion
-Everything else-$936 Billion
Total Debt=$2.9 Trillion
Total 2008 Federal Revenue=$2.5 Trillion
Total Budget Deficit=$410 Billion

4. U.S. personal savings rate as % of disposable income
-1960's=12.4%
-2000's=2.9%
-Alan Greenspan, Chairman of the Federal Reserve, 1987-2006:
"Without savings their is no future".

5. 2007 figures ranking the world's Trade Balance of
244 nations in order from the largest Trade Surplus to the
largest Trade Deficit.
-#1 China-surplus
-#244 The United States-deficit (the very worst in the ranking)

6. The #2 foreign holder of America's debt is China
-America's debt to China in 2007 was $477 billion and
rising

7. The foreign holder of a nation's debt can wage
financial war on the debtor nation in the context of
forcing the military policy of the debtor.
-The video points out that in the 1950's America waged
financial war on England. America then owning a large
part of England's debt threatened to do something to
England that would have effectively destroyed England's
currency. The threat was made to get England to do
something militarily that America wanted very badly.
The result of the threat was that England militarily
did what America wanted.

8. Political Solutions to the grave American financial problems?:
1. Stop monetary fraud, waste, and abuse in government?
2. Cancel the Bush tax cuts?
3. Stop the war in Iraq?
4. The first three points combined would barely begin
to curtail the financial bombs falling in America's
Financial Armageddon

Concerning the 30 minute video:

1. The video is 30 minutes from the I.O.U.S.A.
85 min. documentary that had a theater release in 2008
but as of this writing is not released yet on DVD.

2. Reviews for the theater version of I.O.U.S.A.:

--"Equal parts enlightening and alarming, "I.O.U.S.A."
highlights our unwise preference for short-term reward
over long-term planning." NY Times

--"For anyone seeking a clearer understanding of the
financial state of the union -- and strong enough to take
the sobering news --[I.O.U.S.A.] is a good place
to start." LA Times

"I.O.U.S.A. is a clear, cogent and compelling primer
on contemporary American economics and the not-so-small
matter of how we ended up at the edge of a precipice."
-- Toronto Star

3. There is a book version of I.O.U.S.A. written by
two people, the executive producer and one of the
writers of the film, Addison Wiggin, and one of the
associate producers of the film, Kate Incontera.


Final Conclusions:
Future Democratic and Republican American Presidents
starting with Barack Obama will do one of three things:

1.Become an Apostle along with the two Apostles upon
which the current massive U.S. national debt is founded

2.Be a disciple of the first two Apostles

3.Courageously start a different course that:
(1)doesn't produce U.S. federal budget deficits but
rather surpluses
(2)helps reduce America's National Debt

I sincerely hope those future Presidents will be #3
type Presidents because any future President that
is otherwise will be contributing greatly to
America's fall not America's safety in the American
Financial Armageddon that I believe the United
States now is in.