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Obama's Debt Slaves - 873,846

America's Debt = Moral Failure, p.2

Obama and his liberal friends in Congress have subjected 873,846 Americans to lifelong slavery this year. I'll explain this "new American slavery" in a moment.

An old biblical proverb says that the "borrower is servant to the lender."  And, as all of us know, our deficit (the amount we're spending beyond what we're taking in) was $1.42 trillion dollars in 2009.  Our national debt (accumlated deficits from this and all previous years) is pushing $12 trillion, and there are $55 trillion in entitlement promises yet to be fulfilled.

The proposed fix: "cut the deficit in half over four years."  What?  So you run up a $1.5 trillion dollar credit card bill this year - with the promise that in future years you'll only run it up $750 billion?  That's not fiscal disipline, that's insanity.  And, I might add, it's a lie.  Nothing our government is doing now will lead to a reduction in deficits.  Everything on Congress' agenda is about higher costs, higher taxes, higher spending and more regulations.

There's no intention to repay this debt, which is why I believe it represents one of the greatest moral failures in American history (see p.1 of this series); a national sin akin to the slave trade.

For short-term political gain and to feed the ever-growing entitlement class, liberal politicians are enslaving you and I, and our kids, to mountains of debt that will weigh us down years after their reign of rhetoric-driven spending.  (Yes, yes, the Republicans are guilty too.  The Bush years saw some big deficits and new entitlements, and they are partly to blame for this year's deficit - to the tune of hundreds of billions.  But Obama and Congressional Democrats have taken things to a new level.)  

Consider: this fiscal year (2009), the government sunk $1.42 trillion dollars further in the hole.  Let's imagine that, long term, the interest on that debt is around 4%.  (And that low number could rise if confidence in our government falters).

$1,420,000,000,000 x 4% = $56,800,000,000 ($56.8 billion)

So next year, the IRS will need to collect $56.8 billion more in taxes, representing the hard work of thousands of Americans, just to pay for this year's overspending.  And, sadly, all of that work, sweat, and creativity will be taxed away from thousands of people - and it won't even pay one dime of the principal on the debt.  It will just pay the interest - meaning that the next year, another $56,800,000,000 will be required as well.  

It gets worse.  Obama's deficit for next year will be another astronomical figure, especially if he gets his wishes for vast new government health care, more "stimulus spending," energy and immigration policies.  So, that $1+ trillion deficit in the following year will add another $50,000,000,000 ongoing burden to the U.S. taxpayers.  

And all of this, on top of the $400 billion we're already spending on debt interest.  Within a few years, debt interest will be the largest single expense of the U.S. government, literally, the biggest "bill" in history.  And the bill will keep coming, and keep growing.  And not one cent of our massive payments will pay off the principal.

Where do these mounting billions go? Into the pockets of the debt-owners, the new American taskmasters.  Some of them are private citizens, some of them are banks and holding companies, some of them are foreign governments.  My argument isn't with them - after all, without bond-buyers, the U.S. government would be in real trouble.  But at the end of the day, the result is that tax-and-overspend economics will increasingly become tax-to-pay-interest economics.  The government will require more and more of our money (and thus, our liberty), and will be able to provide less and less in return for it.

Now, what about these 873,846 debt slaves?  

Here's the logic (I pray to God my math is wrong here, so please correct me if you can):

The overwhelming debt and interest numbers don't just represent extra zeros on a government spreadsheet, they represent hard work, the productivity and innovation of American industries, the career dreams of your children - all subjected to the despair of endless debt. It means that the equivalent of nearly a million American citizens will forfeit their income and receive absolutely nothing in return.  I call that slavery.  

An average American worker produces about $65,000 in value annually.  Obama and his friends will need the productivity of 873,846 lifelong, full-time debt slaves just to pay interest on this year's addition to the national debt.  

Realistically, interest rates will probably go up in the future, as the government will need to attract more buyers for its growing debts.  At 5.5% average interest (it was almost 5% in 07-08), we'd spend $80 billion a year on the interest on this year's debt alone, enslaving the equivalent of 1.2 million Americans for the long-term.  And, if the rate were to tick up to 6.5%, we'd be looking at more than 1.4 million debt slaves.

That's a whole lot of slaves, many of whom voted for "hope and change."  

Added to the pile of debt we already have, and the vast projections of debt stemming from Obama's spending proposals, we're looking at ten million+ debt slaves within a couple of years.  And for what?

You do the math.  A new American slavery indeed.

* In the original post of this material, I was working off of projected numbers that ended up being higher than the government's report, issued October 16th.  I corrected the math accordingly in the post above.  And while the "good news" is that the budget deficit was less than I'd figured - thus fewer debt slaves, the "bad news" is the equivalent of 873,846 American workers will labor their entire year away in 2010, just to pay debt interest from 2009.  And then they'll need to jump right in and keep working hard in 2011, and 2012, and 2025, and...

Health Reform: The Constitutional Option

Much has been made of the "public option" that seems unable to die in the current health care reform debate.  I hesitate in using the word "reform" however, because usually reforms involve changing direction, rather than accelerating the pace of the current direction. The goverment role in health care, and the "public options" already in existence, have been growing exponentially throughout my lifetime (Medicare, federally-subsidized state Medicaid, SCHIP, etc.), and from what I understand, are on the path to bankruptcy, endless deficits, and overall gloom.

All that aside, I'd like to propose a dramatic health care reform plan of my own -- an eRevolution-style reform that, while radical, might be just what the doctor ordered (or what he would order, if the government wasn't regulating his business).

Flood America with the Constitution

Could we get every American citizen to read and consider the Constitution in 2010?

As a nation we need to revisit what the Constitution says, what the role of our government is, and what our vision for the future should be.  The security and prosperity of our Republic depends upon such discussion.  In the coming months I'll be posting further ideas and details about how we can flood America with the Constitution in 2010.  Here is a to-do list for now:

Real Answers about Health Insurance

Mark Wagar of Empire Blue Cross offers perspective on the health insurance debate and takes questions from skeptics. It's interesting hearing from someone who actually knows what he is talking about. 

A few points made in this audio (at least, by my interpretation):

>> Insurance prices are admittedly unsustainable - but that has to do with the actual medical costs, not the insurance companies.  Real reform has to address underlying costs, not just mandate lower prices (doing so would bankrupt hospitals, which wouldn't help anyone).

Reforming our Nation's Lawn Care

After months of rigorous national discussion, Congress is putting forth a bill addressing the lawn care industry, in an attempt to control costs and guarantee quality lawn care for every American (and everyone else who lives here).

The Problem:

- This essential service has grown expensive - both the equipment and labor costs of lawn care have skyrocketed in recent years.

- Most U.S.communities have lawn care standards much higher than anywhere else in the world, but this has also led to higher ongoing costs.  

- Some families have complained that richer neighbors have access to better lawn care, resulting in greener pastures on the other side of the fence.  Lower-income lawn-owners need equal access to fertilizers, pesticides, and other other treatments.

The Solution:

First, lawn care providers need to 

Prophecy on Health Insurance Reform

"When men were free."  If you're still one of those five or six Americans out there that think Obamacare is a good idea, let a familiar voice convince you otherwise.  This is probably the most powerful statement I have heard anyone make on the subject - government insurance, the "public option," and all the lies and spin that are swirling around out there.  

Obamath: Multiplication by Division

Here's the fundamental equation of Obamath: OM (/$=+$)      (The division of wealth equals additional wealth).  Think about that for a second.   The basic principle behind Obamath is that we can improve the lives of Americans by forcibly redistributing their wealth.  Taxing one person (or borrowing from their future taxes) and handing cash to someone else (in the form of health care, car rebates, etc.) will somehow add value to the economy, or organize it more efficiently than the free market.  That's the theory, at least. The problem is that it can't work.

Obama's Goal for Health Reform

Currently, the American health care system provides care for all, insurance for some.  Obama's plan will reverse that.

Tomorrow, Fiscal Discipline. Today...

Tomorrow, I’ll start my diet. I’ll start exercising. I’ll go back to school. I’ll get to that “honey-do” list on the fridge. I’ll clean out the garage.

I’ll “restore fiscal discipline.” 

Who does Obama think he’s kidding?  “Fiscal discipline?”  Reflected in a budget that boasts a $1.25 trillion dollar deficit?  (Link to news story)

Think for a moment.  I did say trillion. 

“Oh, but we are planning to make some hard choices.”  Really?  

Alternate American History

It is no secret to Americans that traditional religious and patriotic values are being systematically censored from public places.  Anti-freedom forces are at work to minimize and delete America's true history - replacing it with an alternate version of events that helps to steer the country away from the values that made it great.   More evidence: