Our Budget is going to take us all down.

If you have credit cards where the minimum payments are more than your take home pay and you are borrowing even more money from your credit cards to cover the payments, then you are in reality --- BANKRUPT!

NO GETTING AROUND THIS ONE FACT.

So what are you going to do. You have three choices:
1) Get a second job and earn your way out of the dilemma you created by spending too much;
2) Find some way to decrease your monthly spending - stop buying some discretionary items.
3) Sell some things to create some extra source of income
AND probably all three.

OR
You will have to declare bankruptcy.

Now we take the US government's budget. The INTEREST on the debt is fast approaching what the total income
of the United States is. Once the debt ceiling is raised and the U.S. borrows more money; and once interest rates begin to move up just a little bit, the total interest on the US debt WILL BE MORE THAN ALL THE INCOME THAT THE U.S. TAKES IN. And as inflation kicks in and we print more money to pay for the interest without ever paying down the principle debt, the US Dollar will become worthless. And worse, the U.S. will be forced to de-value its currency. Time will come when you are asked to turn in 10 old green dollars for 1 new tan/green dollars. Instantly everyone will be poorer by a factor of TEN. If you had 10,000 in the bank, you would then only have 1,000. And the prices of food and commodities would be the same or higher.

GET IT PEOPLE !!! WE DO NOT HAVE TO LIKE IT!!! BUT WE EITHER HAVE TO REDUCE THE U.S. SPENDING AND SOME OF THE PEOPLE WITH GET HURT OR WE CONTINUE TO SPEND AND ALL THE PEOPLE WILL GET HURT.
THOSE ARE THE U.S.A.'s ONLY TWO CHOICES. You do not have to like them. The two choices are there and you have to decide how you will go from here.

It's a choice between very bad and disaster. No one will like it. BUT it will be one or the other choice no matter what side of the political spectrum you are on. So my choice is to begin to cut spending and NOT raise the U.S. debt spending limit.

As the debt is slowly and painfully reduced over several years and as the U.S. economy slowly begins to increase and more people are employed and pay more taxes, then and only then, will the U.S. economy and the U.S. dollar get on firm ground.

And that's the way I see it...
Straight Talk with Jay Clifford

Related articles

• Will America Default on Its Debts? (adamcollyer.wordpress.com)
• The Debt Bomb Is Coming Due (kudlowsmoneypolitics.blogspot.com)

Where is Lincoln when we need him

We had a leader in President Lincoln. A person of commitment. A person of foresight. A person of justice. A person of Honor. Yes, President was all these things and more. And he was killed by the confederates. John W Booth, it turns out, was an officer in the confederate army. But the President was a leader among men.

And what do we have now??? A passive quasi-professor with one foot racial world and one foot in the socialist world. Someone who may or may not be a citizen of the USA. Someone who really never taught at the Univ Of Chicago. He was just a grad student fill-in who worked for free just to be able to say he was a professor on his resume. And he probably never went or Princeton or Harvard. At least there is not one graduate of either UNiversity who remembers him. And did he get the scholarship he applied for as a KENYA resident? Who knows.

And when he was in the Illinois house of Representatives he ALWAYS voted "present". He never was able to make a commitment. OH YES, except to the pastor who hates America - "wright".

Then there is his Senate tenure where he repeated most of his votes as "Present" EXCEPT where he voted exactly opposite the way he acts as President.

And has he every worked? I mean taken a job. NO

And has he every managed a group of employees. NO - He has zero experience as a manager.

In my opinion, he is as weak as President Carter and President obama is doing to America what President Carter did. He is weakening America and hurting alliances with our best allies. obama is embarrassing the USA with all the world. The world now thinks that the USA and obama are weak and not to be trusted. Quite an accomplishment for just two years in office.

And lets not forget how the Democrats and obama are bankrupting the USA. Don't come to me crying that the dollar has been de-valued in a short while from now. Every nation that tried to "inflate" its currency to get out of debt has de-valued their money. The people suffered terribly. That is the Future of the USA unless some one or Some group can stop the spending and reduce the obama and democratic debt significantly.

President Lincoln - President Reagan - we need you now.

And that's the way I see it...
Straight Talk with Jay Clifford