Title: There is a Solution

Original CoS Document (slug): [[https://conventionofstates.com/there-is-a-solution|there-is-a-solution]]

Login Required to view? No

Created: 2024-10-02 18:02:10

Updated: 2024-10-09 03:00:00

Published: 2024-10-02 03:00:00

Converted: 2025-04-14T21:33:31.408603133


----




Everybody hears about the US Debt. The number is so large it doesn't register with the vast majority of people or of what are the consequences.

They may complain or talk about it to others, but that is about all that happens. However, the Debt continues to rise.

The Federal Government doesn't care or think that it's a problem. They do nothing about it other than platitudes during election times.

What almost no one knows or focuses on is the unfunded liabilities; Medicare, Medicaid, or Social Security. This is a much larger problem than just the debt.

Consider the following numbers from the US Debt Clock website.

As of October 2nd, 2024:

  * **  $35.4 trillion** in US Debt (123.5% of the GDP (Gross National Product))
  * **$219.6 trillion** of Unfunded Liabilities 

These numbers are so large as to become meaningless to the normal person. But if you look at the numbers as follows, then the impact on each one of us becomes more personal.

  * **$104,960.00** of US Debt per person 
  * **$649,760** of Unfunded Liabilities per person 

This means that every person in the US owes $754,720 as of October 2nd 2024.

===== $3,018,880 for a family of four =====

Here are the numbers for January 3rd, 2024, just 9 months ago!

  *   **$34.0 trillion** in US Debt (123.5% of the GDP (Gross National Product))
  * **$211.6 trillion** of Unfunded Liabilities

Let's break that down per person and per family:

  * **$101,230** in US Debt per person 
  * **$629,930** of Unfunded Liabilities per person 

This means that 9 months ago every person in the US owed $ 731,160

Your debt has increased by $23,560 in 9 months.

I bet you didn't get a raise like that!

===== But wait, it gets worse =====

The bad news is that the increases per year are accelerating. Taking the Debt and the Unfunded Liabilities together they represent over 600% of the GDP. Imagine that you had an annual income of $100,000 and your debt was $600,000 (and growing each year),

No bank would lend you money and if they did the interest rate would be large. Eventually the bill collectors will come for their money. Your only choice is bankruptcy. The US economy is heading for the cliff that is getting higher and higher, and the only question is not if but when it will go over the cliff and crash at the bottom of the ravine. It will make the Great Depression of the 30s pale by comparison. I mourn for our children.

One last bright note to leave you with. Most people are not aware that the current law for Social Security has a clause that by law everybody's check will be automatically cut by 24% unless Congress acts. This will happen in less than 9 years, and Congress, as usual, keeps kicking the can down the road until it is the 11th hour. You may trust Congress to do the right thing an address this correctly, but I do not share your faith that they will.

===== There is a solution =====

We need Convention of States as fast as we can, so that we can mitigate the looming disaster. Join in the fight and sign the petition. Then, [[https://conventionofstates.com/take_action|sign up to volunteer]].

#|PETITION_WIDGET{petition_tag:BLOG_POST_TX_10/2/24_BANKRUPTED;coalition_id:;anedot_url:}|#