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18 Facts on the US National Debt That Are Almost Too Hard to Believe

(Mitchell Nemeth) At around $22.5 trillion, the United States national debt sits at 106 percent of Gross Domestic Product (GDP). There is no disputing that this gigantic debt will someday become due and payable. However, there is hesitation among the political class as to what must be done to pay down and eliminate this debt.

Progressive lawmakers have largely refrained from discussing this liability, preferring to claim that the United States can continue to fund exorbitant government programs. Conservatives have unsuccessfully, on numerous occasions, attempted to limit federal outlays. With each failed attempt, conservatives instead continue to vote for spending increases. At the National Review, Michael Tanner writes,

there is no effort to prioritize or make the difficult choices of governing, there is only…more.

Each attempt to cut or reduce the growth of federal spending has been met with resistance and ferocious outrage.

If there is any takeaway from these unsuccessful attempts to reduce spending, it is that federal spending has subsidized numerous projects or programs, which have grown dependent on the federal government. There may be many good uses of federal funds, but this does not provide lawmakers with a “Get-out-of-jail-free card.” For now, lawmakers continue to spend as if they are children in a candy store with no limit on their parents’ credit card. At some point, lawmakers must address the underlying problem: federal spending.

Lawmakers are representatives for their constituents. This goes without saying, but lawmakers are unlikely to address the ever-increasing national debt until voters demand action. What remains unfathomable to many voters is how much money $22.5 trillion truly is. As Jon Miltimore has written, “the problem is that the human mind has trouble understanding a figure so huge.” Below are some facts that help put into perspective just how large is the sum of $22.5 trillion:

  1. In order to pay down our national debt you would have to combine the GDP of China, Japan, and India.
  2. The United States owes $68,400 per citizen.
  3. The United States owes $183,000 per taxpayer.
  4. The United States currently has $125 trillion (yes, trillion) in unfunded liabilities.
  5. According to the nonpartisan Congressional Budget Office (CBO), the US debt held by the public will reach 100 percent of GDP in 2028.
  6. In 2008, interest on the federal debt was $253 billion. Interest for Fiscal Year (FY) 2019 is roughly 89 percent higher.
  7. For FY 2019, interest alone on the federal debt is $479 billion. In 1979, total federal government receipts were $463 billion.
  8. In the year 2000, the federal debt was $5.67 trillion. In 2019, federal debt is 297 percent higher.
  9. At Forbes, Jim Powell writes that the old New Deal cost about $50 billion from 1933 to 1940, whereas the “future cost of old New Deal programs still in effect is reckoned at more than $50 trillion.”
  10. A recent analysis by the CBO projected that the federal budget deficit (deficit as in the difference between federal outlays and revenues) will grow to $1 trillion alone in 2020.
  11. As of December 2018, only ten countries have worse Debt-to-GDP ratios than the United States.
  12. At NPR, Danielle Kurtzleben writes that Senator Bernie Sanders’ “taxation-and-spending plans…would together add $18 trillion to the national debt over a decade.”
  13. According to the Center on Budget and Policy Priorities, roughly 24 percent of federal spending goes to Social Security, 26 percent to federal health insurance programs, 9 percent to safety net programs, and only 2 percent on transportation infrastructure.
  14. By 2025, the cost of servicing our national debt will exceed the cost of our military spending.
  15. The cost of implementing a Universal Basic Income, presidential candidate Andrew Yang’s central social program proposal, would cost $3.8 trillion per year or roughly 85 percent of current federal spending.
  16. It would take the United States 713,470 years to pay down the national debt if we paid $1 per second of the year.
  17. Modern presidents have doubled the national debt every nine years.
  18. The Federal Reserve “purchased large amounts of federal debt as part of its quantitative easing program,” thus cheapening the cost (decreasing the interest rates) of money.

Lawmakers and political pundits continue to insist that federal revenues are the real issue despite continuous growth in federal revenues. Heated rhetoric over federal tax cuts ignores the reality that federal spending increases continue to outpace federal revenue increases.

At some point, purchasers of US treasury securities may request a higher return, materializing in higher interest rates, unless lawmakers address our growing national debt. For now, it is up to voters to demand that lawmakers implement responsible policies that protect our nation’s financial security.

About The Author

Mitchell Nemeth holds a Master in the Study of Law from the University of Georgia School of Law. His work has been featured at The Arch Conservative, Merion West, and The Red & Black. Mitchell founded the Young Americans for Liberty chapter at the University of Georgia.

This article was sourced from FEE.org

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https://fee.org/articles/18-facts-on-the-us-national-debt-that-are-almost-too-hard-to-believe/

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Underworld

How Russia and the United States nearly started a nuclear war in 1995

The Norwegian meteorological rocket incident remains the only time in history that the Russian president has activated his nuclear briefcase.

On January 25, 1995, Doomsday could have come in the world: the Russian Federation was preparing to launch a nuclear strike on the United States. How did it come about that the states that left the confrontation of the Cold War in the past and had just normalized relations with each other found themselves on the verge of mutual destruction?

The beginning of the war?

The cause of the crisis was an ordinary Norwegian meteorological rocket. Its launch from the small island of Anneia at 7 am local time (10 am Moscow time) towards Spitsbergen caused a stir in Russia. 

Black Brant XII.

Black Brant XII. Legion Media / ZUMA Press

Equipped with scientific equipment to study the aurora borealis, the Black Brant XII was similar in size to the nuclear-powered American Trident D-5 ballistic missile, intended for launch from submarines. In addition, it flew along a trajectory along which, as the Russian Defense Ministry believed, American missiles would fly in the event of a nuclear war. 

In December 1994, Norway informed 28 states, including Russia, about the planned launch, but did not give a specific date, limiting itself to specifying the period: from January 15 to February 10 of the next year. Due to bureaucratic delays, this information did not reach the Russian Missile Warning System, which sounded the alarm.

Decisive minutes

An emergency meeting with the country’s top political and military leadership was convened in the Kremlin. Defense Minister Pavel Grachev, Chief of the General Staff Mikhail Kolesnikov and President of the Russian Federation (as Supreme Commander-in-Chief) Boris Yeltsin had three strategic missile forces control terminals activated – the so-called nuclear suitcases.

Vladimir Sayapin / TASS

The military believed the lone missile could have been fired to create an electromagnetic pulse that knocked out Russian radars and communications systems. Following it, a massive blow could be expected.

For several tense minutes, as leaders watched it flight, it was decided whether Russia would launch a nuclear strike against the United States. 

“Little is known today about what Yeltsin said at the time, given that it could have been some of the most dangerous moments in the entire history of the nuclear era,” The Washington Post journalist, David Hoffman wrote three years after the incident : “They make it clear that the Cold War nuclear readiness system continues to operate, and how catastrophic its consequences could be, despite the fact that the feud between the great powers is already over.”   

The situation was discharged only when it became clear that the rocket had gone towards Spitsbergen (not far from which it fell into the ocean). The nuclear cases have been deactivated. Russian President Boris Yeltsin (center) and Russian Defense Minister Pavel Grachev (right).

Russian President Boris Yeltsin (center) and Russian Defense Minister Pavel Grachev (right). Igor Mikhalev / Sputnik

The incident with bringing Russia’s Strategic Nuclear Forces to combat readiness, soon became the property of the world community. When, four years later, the Norwegians were about to repeat their launch of Black Brant XII and reported this to the Russian Foreign Ministry, the US additionally warned all key Russian military departments about it through their channels. As a result, this time there were no unpleasant surprises. 

Source: rbth.com

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Germany conducted exercises in case of nuclear war

Bundeswehr / Birthe Brechters

The Bundeswehr with partners in the North Atlantic Alliance ( NATO) trained in operations in a nuclear war.

The German army, together with Italian, Belgian and Dutch colleagues, conducted exercises in the event of a conflict with the use of nuclear weapons.

The location of the exercise “Steadfest Noon” was chosen airbase “Nörfenich”, where the tactical squadron of the Luftwaffe 31 “Boelcke” is located. Together with the Luftwaffe of the Bundeswehr, the air forces of other NATO countries, in particular, Italy, the Netherlands and Belgium, took part in the exercises.

According to a report by Bild, the exercise scenario involved training procedures for safely removing nuclear weapons from storage, delivering ammunition and installing them on aircraft. The training flights took place without nuclear weapons, and in parallel with the aviation exercises at the Büchel airbase, where the tactical squadron of the Luftwaffe 51 Immelman is located, the Resilient Guard air defense systems were trained to protect the airfield from air attacks.

The training sites for the Luftwaffe of the Bundeswehr were not chosen by chance, since the Nörfenich airbase is a reserve storage site for the B61, a hydrogen bomb that forms the basis of nuclear weapons of the US strategic nuclear forces. 

Some of this ammunition is stationed at NATO bases in Europe. The exact number of hydrogen bombs that are stored at European sites and which ones are not reported. In Europe, the B61 is carried by Panavia Tornado fighter-bombers (pictured) and General Dynamics F-16 Fighting Falcon fighters.

Recall that the B61 thermonuclear bomb is the main weapon of the US strategic nuclear forces, although it entered service in 1968. Since 2012, a new guided version of the B61-12 has been under development, which will replace all B61 and B83 bombs that have been in service since 1983. It can be used both on strategic bombers and tactical aircraft. About two billion dollars were spent on the development of the 12th modification of the aerial bomb.

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The Pentagon wants to use 5G for military purposes

© Al Drago; George Frey/Reuters

The US military has partnered with more than a dozen companies for “large-scale experiments” with 5G technology, including efforts to increase the “lethality” of certain systems, as part of a $ 600 million project. 

Duplicating 5G technology as the “Founding Tool for Modernizing All US Defense,” the Pentagon announced a massive research initiative on Thursday that will donate hundreds of millions of dollars to 15 private contractors to conduct tests at five US military sites.

 “The Department of Defense today announced a $ 600 million award for 5G experiments and testing at five US military training grounds, representing the world’s largest full-scale 5G trials for dual-use applications,” the Pentagon said in a statement that it will bring together experts from multiple industries and disciplines. 

Projects will include piloting 5G-enabled augmented / virtual reality for mission planning and training, testing 5G-enabled smart warehouses, and evaluating 5G technologies to improve distributed management and control.

Selected for the project include telecommunications companies AT&T, Nokia and Ericsson, exploration and information technology contractor Booz-Allen Hamilton, research arm of General Electric, GE Research and a subsidiary of aerospace giant General Dynamics.

One initiative, led by AT&T at Nellis Air Force Base in Nevada, will apply 5G to its “Distributed Command and Control” system to “Assist in lethality in the air, space and cyberspace”, improving communications for mobile command posts in combat scenarios. At the Lewis-McCord joint base in Washington State, AT&T will also work with Booz-Allen and two other firms to develop 5G-enabled virtual reality technology for training, mission planning, and even Operational Use. 

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