17 National Debt Statistics Which Prove That We Have Sold Our Children And Grandchildren Into Perpetual Debt Slavery | Mario Kenny ™

17 National Debt Statistics Which Prove That We Have Sold Our Children And Grandchildren Into Perpetual Debt Slavery | Mario Kenny ™

At what point does it make sense to file for national bankruptcy? What would be the effect of a national bankruptcy filing? Our national debt numbers are staggering and point to some obvious conclusions. First, it seems increasingly unlikely that all of this debt will ever be repaid. Second, a massive reorganization in our banking system is inevitable.

A liquidation of national assets would be impractical, given that the US has such a strong military and such a large cache of apocalyptic weaponry. What nation would dare attempt to force the American people to liquidate all of our assets? China?

In bankruptcy and reorganization filings, which is to where these numbers appear to be pointing, generally what happens is that a judge forces debtors to assess how much income they can generate, what assets can be liquidated, what costs can be eliminated, and the court helps decides who stands first in line for repayment. Debtors are forced to assess why they are spending more than they are earning.

A think-tank based in Arlington, Virginia called the Center For Economic and Social Justice (CESJ) believes the solution to the problem of why the American people are spending more than we earn, and how to correct the growing imbalance, is right under our noses. John F. Kennedy, whose vision and leadership led Americans to be the first nation to plant our flag on the moon, orated: "a rising tide lifts all ships."

The rising tide that lifted Americans to the moon in my lifetime was an economy fueled by technological innovations which made it possible for Americans to do more with less. The ships were ordinary Americans, who were lifted as a whole to become the richest, most inclusive people the world has ever known. If technological innovation, or what Buckminster Fuller characterized as the design science revolution, was the engine driving the rising tide, credit and our banking system provided the rocket fuel. Our banking system enabled any property owner that could demonstrate sufficient cash flow and a feasible business plan to get the credit needed to fuel economic growth. CESJ has a plan for reorganizing our banking system to once again fuel the rising tide that lifts all ships.

How many Americans feel the tide is rising? A reflection of a sinking tide, President Barack Obama cancelled NASA's Constellation Program, the cornerstone of our manned space program. Today, we have Ph.D rocket scientists, who just completed designs for the Ares rockets, living out of their cars.  I know this because I recently spoke to a friend who was directly affected by the cancellation of the Constellation Program.

Here's a really scary thought. With so many rocket scientists currently unemployed, which nation has the greatest demand for rocket scientists? Consider the following article about the strategic weakness in China's military: rocket engines! (http://www.globalsecurity.org/wmd/library/report/crs/98-485.htm) Which nation has the greatest capacity to buy up strategic industries?  You guessed it, China.

The Capital Homestead Act, which CESJ hopes to pass in 2012 on the 150th anniversary of the passage of Lincoln's Homestead Act, offers the kind of disruptive technology that can be as powerful as the fulcrum of Archimedes. Archimedes said, if I had a lever long enough, I could move the world.

The Capital Homestead Act can be a socio-economic lever. If anyone thinks that the passage of the Capital Homestead Act should not be our nation's number one legislative priority in 2011, consider the hundreds of unemployed rocket scientists from the Constellation Program and everything they know.  Now is the time to invest in strategic industries in innovative, non-inflationary ways, in ways that create owners out of non-owners without making non-owners out of owners.