We Are Broke!
On April 15, 2021, the Truth in Accounting website updated it’s “Financial State of the Union 2021.” The website reported the financial condition of the United States deteriorated by almost $10 trillion dollars in one year.
Our government has around $6 trillion in assets to pay $129 trillion in bills. We Are Broke! And yet we go on with little concern. The new information shares that we owe $55 trillion for Medicare and $41 trillion for Social Security and we have $21 trillion of publicly held debt.
WHERE WILL WE GET THIS MONEY?
In my opinion, surely they will increase taxes. You are seeing the beginning of that now with Biden’s (and others) proposals. I’m sorry, I don’t believe that will be enough.
Probably they will also employ the “stealth tax.” They will destroy the purchasing power of the money. All of us will be seriously impacted by the coming changes.
The website doesn’t stop there. It also provides financial information for all 50 states and the 75 largest cities in our country. We owe money everywhere.
Ask yourself:
- Will they get this money from people who have money or people who don’t have money?
- If you have money, don’t you have a big target on your back?
- Do you want to be in control of how much they take, or do you want the government and the Internal Revenue Service to be in control?
You still have time to make a decision.
We still have time to employ the strategies needed to mitigate some of the future changes and preserve your wealth.
