In 2009, it was a massive international affair that neared scandal when the US government, spearheaded by Barack Obama, pushed a $700 billion bailout to keep the American economy from tanking.
At the time, outlets like CNN kept extremely detailed trackers showing where every penny had gone. Many of these trackers made sure to note companies that had failed to repay the money they had been given to keep them afloat. It was a big deal. Nothing that extreme, or with that dollar amount, had been spent so quickly since the Second World War.
With that in mind, try to wrap your head around this:
That's right: In a single day, the US government spent $250 billion in money it doesn't have, and is on track to surpass $34 TRILLION in a few weeks after reaching $33 trillion in debt just TWO WEEKS AGO.
It's the end of the government's fiscal year, and between Social Security and other failing programs, they are shelling out big time.
I know the average person tunes this kind of news out. There's lots of big numbers and you are scrambling to pay bills. I get it. But when this kind of spending gets away from a corrupt government, it directly affects all of us.
Remember when Zimbabwe's government tried to address inflation with more spending and the dollars became so worthless that they created trillion-dollar bills but people were still using WHEELBARREL-FULLS to buy food?
Their economy was saved (-ish) because they had the US dollar to fall back on.
But since the dollar hasn't been backed on anything except fairy dust and the promises of Jerome Powell for three generations, what happens when the dollar falls??
This is why, love them or hate them, politicians like Matt Gaetz are starting to make a whole lotta sense:
The #1 economic trend of 2023 is de-dollarization, globally.
Other countries see the writing on the wall. They know they need a safety net for when, not if, the dollar crashes. The BRICS alliance is proof of this.
The average American may not understand what is happening until it is too late. We've had so much prosperity for so long that we don't get how most of the world has lived for all of history.
The next time you see politicians racing to spend $200 million a DAY on a far-off war in Ukraine with some hare-brained idea that it's going to stop Russia or China from further aggression, understand this: The economy determines a nation's ability to fight and win a war. America's ability to outspend everyone else made our victory in World War 2 assured, and while the USSR was able to push for 4 decades after that to try to compete for us, they had to do so at the expense of their people and the whole thing collapsed on them. Russia now has the GDP of Florida, one U.S. state, and its people generally live below what the U.S. would consider the poverty line.
Russian annual salary:
So if our politicians really wanted to get the most bang for the buck and not just live out a Cold War fever-dream (looking at you, Lindsay Graham)...
... then the best thing you could do is stop blowing out our spending and start CLEANING OUR DANG HOUSE.
As a taxpayer who is already struggling to pay the IRS their blood money and feed my family, I am telling you: The American people are close to breaking. When the dollar goes, there will be nothing left in the war chest. You were elected to steward our money for our protection, and by spending it beyond our means for DECADES, you have destroyed it. When the nation is bust and our kids are starving, our enemies are going to have a heck of an opportunity.
So stop warmongering and balance the budget. Stop the spending. Cut the glut. Starve the Swamp. Get it done. Now.
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