The Atlantis Report
Premiered May 23, 2021
The Federal Reserve is poised to spray trillions of dollars into the US economy to fight the pandemic and its aftershocks. These actions are unprecedented, going beyond anything it did during the 2008 financial crisis in a sign of the extraordinary challenge facing the nation.
The US government was already running massive budget deficits long before the pandemic, and the debt was piling up at a dizzying pace.
The US government’s war against the coronavirus is imposed the heaviest strain on the Treasury since America’s drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago.
Since 2008, America’s national debt has surged nearly 200%.
Government spending soars during the pandemic. The US national debt pushed above $28 trillion . That’s a whopping 225K Dollars per tax payer.
America’s debt doesn’t stop growing.
The current debt-to-GDP ratio is already of 127%, which is expected to rise to 277% by 2029.
While the US National debt is expected to approach $89 Trillion by 2029.
The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
Instead of draining the swamp, we are draining the nation. This is theft in broad daylight. Nothing more than a large wealth transfer mechanism for the rich and the connected.
Spending billions in corporate welfare from every wing of government under the false premise that it will produce American jobs when the money is really funneled to stock buybacks and CEO bonuses.
Ever since the US national debt exceeded 90% of GDP in 2010, inflation-adjusted average GDP growth has been 33% below the average from 1960–2009, a period that included eight recessions.
The US is now acting like a giant corporation and treats its constitution as corporate by-laws.
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