Ron is RIGHT By 2040 The US will only have enough money to pay interest on our debts.

[ronpaul.in]

There is a reason Ron is sticking to monetary policy guys, he hit the ball out of the park turning that Regan question towards finance.

Americas Financial Future
David M. Walker, Comptroller General of the United States, speaks about Americas current financial condition and long-term fiscal outlook.

http://videos.recession.org/

Watch the the first video to get a true understanding of the mess we are in.

 

[flahavin]

And will that be paid in Ameros or US Dollars?

 

[Matt23]

shit, right NOW we only have enough money to pay interest on our debts.

 

[billjarrett]

Heres a nice 90 minute one from David Walkers Fiscal Wake Up tour

http://www.youtube.com/watch?v=i-uVw7iXDAk

 

[wildboar]

Watch the Gold Price

Ron has friends around the world. Watch what happens next.

 

[ronpaul.in]

This is important

 

[RonPaulFTFW]

glad im not having kids...

 

[billjarrett]

This is important

I said basically that back here

http://www.ronpaulforums.com/showthread.php?p=988955#post988955

but people wanted to talk about war spending

 

[Goldwater Conservative]

And will that be paid in Ameros or US Dollars?

I don't think you'll be able to pay with an artifact that's locked up under glass in museums.

 

[billjarrett]

I don't think you'll be able to pay with an artifact that's locked up under glass in museums.

That would be nice.. I'll put one away, keep it nice and crisp. Maybe it will be worth more as an antique.

 

[billjarrett]

This is important

Bump

 

[junior_bacon_cheeseburger]

2040?? Our government is bankrupt. 100% of our income taxes go to pay interest. The only way the government can fund ANYTHING is to borrow or print. The time you speak of is NOW,WE NEED SOME FUCKING SANITY IN OUR MONETARY SYSTEM NNNNOOOOOWWWWW!

 

[billjarrett]

2040?? Our government is bankrupt. 100% of our income taxes go to pay interest. The only way the government can fund ANYTHING is to borrow or print. The time you speak of is NOW,WE NEED SOME FUCKING SANITY IN OUR MONETARY SYSTEM NNNNOOOOOWWWWW!

If you watch the videos, that's what they are saying. One of the videos I saw on it had David Walker saying that by 2040, Social Security, Medicare and the interest on those two programs alone would amount to over 90% of our GDP. NOT tax revenues, GDP.

It needs to be taken care of now, but it's not until you calculate the compounding interest going forward to 2040 to realize how important it is to take care of it now.