By Johnny Liberty

Anyone with basic arithmetic skills can understand that in a debt-based “fiat (Ø)” paper currency system, one can never balance the budget or pay the “debt (Ø)” . One can only expand the economy by expanding the debt, thus giving the appearance of prosperity and progress for all. So what is all the budget balancing fuss in the halls of U.S. Congress really about? A “balanced budget”amendment is an essential requirement if the “money ($)”system is ever to be restored under the U.S. constitution.

DEBT CAN NEVER BE PAID

Burdening the Public with Debt

The U.S. government’s practice of burdening the public with debt was astutely addressed by economist Henry George in 1904. People in debt are told that they are benefiting from their negative asset condition, but it is their children who suffer, he observed. 

“The institution of public debts…rests upon the preposterous assumption that one generation may bind another generation.” George recognized that foisting debt upon the public is an exercise that would involve “a flagrant contempt for the natural and unalienable rights of humanity.”

George wrote that drawing on wealth that has not yet been created not only robs our progeny, but creates dangerously concentrated power in the hands of government and banks that is certain to be abused. The only ones who gain by such an arrangement are “those who get control of governments.” 

These Power structures are able to amass massive sums clandestinely this way, because outright taxation to acquire the prodigious amounts that they want would immediately arouse indignation, resistance and revolution.

EXPONENTIAL DEBT CURVE

U.S. Federal / National Debt

The official tally of the Ø30.4 trillion U.S. federal debt (2022) is actually much closer to Ø168.9 trillion if you include unfunded liabilities and entitlement programs. During government budget crisis shutdowns, the debt ceiling is raised in yet another undeclared bankruptcy of the federal U.S. government. The U.S. Debt Clock provides current statistics online and what “fair share” of the federal/national debt is estimated to be yours. www.usdebtclock.org 

The National Debt (federal deficit) grows exponentially every second, with interest compounded daily. Total U.S. Debt per Citizen is Ø91,319 dollars (2022) or Debt per Taxpayer is Ø242,500 dollars (2022) compared with merely $131 U.S. Debt per Citizen in 1930. Interest on the debt alone is Ø3.7 trillion (2022) while federal spending is Ø6.3 trillion (2022). Keep in mind that the federal/national U.S. Debt does not include personal or household debt accrued from banks and credit cards. 

Dipping Into Social Security Trust Funds

Back in the 1990s, former U.S. Secretary of Treasury Robert Rubin admitted that borrowing funds from the Social Security Trust Fund keeps the government afloat; “a simple electronic entry”, he called it. 

Unfortunately, there is no actual account to hold Social Security Trust funds safely out of reach of government officials. As money funnels into the U.S. Treasury, it lands in a general fund. When that U.S. Treasury fund is empty, anything borrowed from any source is just an electronic entry. Therefore, it is no surprise that so many funds have simply gone missing and unaccounted for.

Investment banker and chairman of the Council of Foreign Relations (CFR), Peter G. Peterson announced on CSPAN in 1994 that the U.S. government had borrowed trillions from the Social Security Trust Fund.

Off Budget Expenses

How many dollars have been raided from the government’s forty-seven (47) trust funds? These are hidden debts which the government cleverly terms as “off-budget” and “unfunded liability” items.

The federal/national debt also rises due to “black budget” expenditures which fund an array of the nation’s huge intelligence and national security apparatus. These enormous budget items are off limits to scrutiny for reasons of “national security”. Not even the U.S. Congress or the U.S. President are aware of these expenditures or where the funds go. Another contributing source of the federal/national debt are underfunded programs such as the federal U.S. government employee pension plan which has been shortchanged to the tune of several trillion dollars.

Do the math, add all these numbers up in a calculator, toss in a hundred trillion or so for waste, theft and corruption and the total federal debt is in excess of $300 trillion or more.

References:

1. Wikipedia | Henry George www.henrygeorge.org/LIFEofHG; Understanding Economics: www.henrygeorge.org; AntiShyster, Volume 6, No.3, p.26 https://archive.org/details/antishyster and https://famguardian.org/PublishedAuthors/Media/Antishyster/Antishyster.htm Reviewed by Estar Holmes, North American News Service, Fall ‘96, p.69. 
2. National Debt Clock www.usdebtclock.org; The Wall Street Journal, Tuesday January 31, 1995, page A-18, A Boon for the Constitutional Bar by Mr. Tofel; From Balancing the Budget…the Facts by John William Kurowski.
3. Wikipedia | Social Security Trust Fund
4. Government Employees Pension Fund: www.gepf.gov.za; Media Bypass Magazine, April 1996.

Source: Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition), Volume 2 of 3, p.60 – 62

ORDER YOUR LIBERTY BOOKS TODAY!

Sovereign’s Handbook by Johnny Liberty 
(30th Anniversary Edition)
(3-Volume Printed, Bound Book or PDF)

A three-volume, 750+ page tome with an extensive update of the renowned underground classic ~ the Global Sovereign’s Handbook. Still after all these years, this is the most comprehensive book on sovereignty, economics, law, power structures and history ever written. Served as the primary research behind the best-selling Global One Audio Course.Available Now!

$99.95 ~ THREE-VOLUME PRINT SERIES
$33.33 ~ THREE-VOLUME EBOOK

Dawning of the Corona Age: Navigating the Pandemic by Johnny Freedom 
(3rd Edition)
(Printed, Bound Book or PDF)

This comprehensive book, goes far beyond the immediate impact of the “pandemic”, but, along with the reader, imagines how our human world may be altered, both positively and negatively, long into an uncertain future. Available Now!

$25.00 ~ PRINT BOOK
$10.00 ~ EBOOK