America owes more money than any country on Earth. Although we owe China a large amount, most of our debt is owed to our very own beloved Federal Reserve who graciously collects interest on its IOU’s. That Ben Bernanke….what a swell guy!
The United States will pay $224.8 billion in interest this year (2012) on it’s $16 trillion reckless debt.
That money could have created 4.5 million “real” jobs at $50,000/yr.
Think about that…. It would bring our unemployment to 4.9%. In addition it would kickstart American production and drive our economy into prosperity, but instead that won’t happen because our congress can keep borrowing as much as it wants from The Federal Reserve and bill you for the interest. How does that make you feel?
Our debt is destroying us and will sure destroy our kids futures. Stop watching American Idol and do something this week. It’s our duty to question our government’s decisions when they are irresponsible.
Where does the government get that $224.8 billion to pay for it’s interest bill? Yep you guessed right, you and me and every other tax payer.
I recorded this video one night while thinking about how ridiculous it is that we allow the Federal Reserve to exist. The United States Constitution says congress prints the money, no one else.