Dan Ferris – What could really happen if Congress doesn’t raise the debt ceiling
Posted July 20, 2011on:
- In: American Crash 2011 | Deficit Reduction Proposal | Economy/Money | Know the enemies of America | national deficit, taxes, national budget | Politics 2009 | Politics 2010 | Politics 2011 | Privatization of federal projects | Progressives Movement to Destroy America | Redistributing wealth | Subverting America by Uri Bezmenov
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Check out the two facts below and then you decide. BB
The U.S. government has about $2.88 trillion of total assets. It appears to have about $1 trillion in cash, stocks, bonds, mortgage-backed securities, and other liquid assets it could use to pay off Treasury debt. If that takes us through the end of September, we’d be able to go another few months, running the total debt back up to the debt ceiling of $14.294 trillion.
in the weeks and months that follow August 2, something unexpected would happen… something nobody in government wants you to know. You’d find out how much you don’t need the government.
For example, you’d find out that the Departments of Commerce, Energy, Interior, Agriculture, and a few others are completely unnecessary and a total waste of money. They’d spend only a couple hundred billion dollars out of a $3 trillion budget, but it would be a huge start on the way to showing you how unneccessary government is. Once that ball got rolling, it’d get harder and harder to stop.