GROSS NATIONAL DEBT OF THE UNITED STATES HAS NOW SURPASSED $33 TRILLION.
ADD to that news –
$1 TRILLION was in just 3 months.
This debt is the Federal Government.
DEBT held by the public was over $26 TRILLION (1)
WHY are we becoming numb to these huge numbers?
“The Congressional Budget Office confirmed that the underlying deficit is going to roughly double from last fiscal year to this one. We hear promises of which programs our leaders are unwilling to touch and which taxes they are unwilling to raise. That kind of talk is not only pandering but it is also downright irresponsible when we have a mess like this on our hands.
Policymakers need to be straight with the American public and they need to come together on a plan to bring our debt under control.”
Committee for a Responsible Federal Budget (1)
GLOBAL DEBT AT UNPRECEDENTED LEVELS
The number of countries facing high levels of debt has increased sharply from 22 countries in 2011 to 59 countries in 2022. (2)
3.3 BILLION PEOPLE LIVE IN COUNTRIES THAT SPEND MORE ON INTEREST PAYMENTS THAN ON EDUCATION OR HEALTH1 (2)
$92 TRILLION – 2022
GLOBAL PUBLIC DEBT REACHED AN ALL TIME HIGH.
5-fold surge in public debt levels since 2000.
40% OF THE DEVELOPING WORLD ARE IN SERIOUS DEBT (3)
Many of the wealthiest nations owe more than they produce annually in GDP. (4)
In other words – we spend more than we need to and our ledger is off Track – out of balance.
Note – one thousand BILLION = one Trillion.
We have $92 trillion debt last year so where is this going?
THIS IS SERIOUS
Where do we start and how on earth have we got to this point?
How have we got ourselves in such a mess when we are supposedly an advanced world?
Our governments are in a mess and globally our Health2 systems are all facing bankruptcy – let’s not ignore this any longer.
If our world was a Business – it would have been shut down a long time ago.
It is well worth re-reading the message above from the U.S. Committee for a Responsible Federal Budget. Here are the points:
- Deficit going to double this fiscal year
- Promises about taxes and programs
- Downright Irresponsible
- Mess on our hands
- Need to be straight with public
- Come together on a Plan
- Get DEBT under control
Just on the above bullet points, if we simply apply our common sense, we could as a nation, say to those that make decisions on our behalf:
“Listen up ALL of you, in charge of the public purse – stop the pandering and irresponsibility when it comes to money that is not yours. We have a serious mess and making false promises is why we are where we are, so get straight and that means TRANSPARENCY. No more Hidden Agendas and time to make those in positions of authority accountable. Add to that we want to know under the banner of Transparency how these individuals are conducting their private business.
We want to have a SIMPLE plan to get this DEBT cleared in full and then live like we did in the past because it worked – good old fashion common-sense way – only spend what is there to spend and start saving and not wasting.
And finally, Dear Policymakers – make sure your own house is in order as we the public will want to know what you are up to at all times. If that feels too imposing, step aside and allow those that live full transparency to take the lead.”
So how on earth are we going to deal with this at the micro level and how can we turn the tides, once and for all?
What if we are not victims here but all part of the mess we have created and allowed?
What if we as individuals can do something instead of pointing fingers and giving up or accepting everything we hear and see?
What if we ALL start to take the steps to live with RESPONSIBILITY in every area of our lives?
What if we get a proper check-up of how we are operating in every day life?
What if we start to look closely at our finances and get a Reality Check of how our ledger is going right now?
What if we check the detail and not just wing it or Ignore what comes in and out of our bank accounts?
What if we go through all our expenditure and see what is truly needed and where we could cut back on excess and Waste?
What if our addiction to plastic cards is killing us literally, as it affects our Health1 and we do know this but we could never admit it?
What if we did the basic 101 Maths and that means no more plastic card nonsense as we know we do not have the means/income to cover it at the end of the month when the bill is due?
What if our excess food consumption needs to stop as it is not needed and we know that but can’t be bothered to make the Changes?
What if our subscribing to all those apps and other ‘gotta have’ is costing us un-necessary spending, but we like to have them Just Incase?
What if our pandering to the kids is stressing us as we know financially we are living way above what we can actually afford and in the long term, we are not being true role models for them?
What if we take a Stop and pause moment before we go on our next spend, spend, spend road and admit this is not really the way to go, as it has no purpose?
What if juggling our finances over decades tells us we have not changed or evolved as we seem to be just going around in circles, clearing debt and straight back into DEBT again?
What if our entitlement that tells us we can overspend because we earn big bucks and we only live once is not a true and responsible way to behave when it comes to $$$?
What if our dodgy money life is not serving us and we know in the long term it will only get worse but we hate the fact we have to face the Responsibility?
What if our cash way of dealing in notes only is because we convince ourselves it makes us secure but it’s coming from our insecurity?
What if taking risks and investing our money to get rich quick is seeking something that is false and dangerous?
What if being irresponsible with our money life and having DEBT is nothing we concern ourselves about as it seems to be the ‘norm’ so when we hear about our nations in trillions of debt, it is just numbers and means nothing to us?
What if we grew up with a Family in debt, so we want to make sure we do not have debt, but somehow we seem to follow in the same behaviours?
What if we over-work to catch up on clearing our debt, but we forget that we over-spend at the same time, so our plan is not working?
Are we the ones that have a loose living lifestyle which means we Gamble our money and buy stuff we never need or use?
The following presentation is something to deeply consider and ponder on …
What if our work involves making decisions that involve costs and this money is coming from the public purse?
What if our private lives and that means how we conduct our money life and balance our own ledger has an affect on our work?
What if our irresponsible and that means ‘ill’ way of living reckless with money means we cannot switch and make sensible decisions when left with a budget to use at work?
In other words, we have no idea what it means to live within a budget, balance our books each month and be super responsible for everything we purchase.
What if we used money for what is needed and what has purpose and not be wasteful (Because We Can) and that level of Responsibility means we can apply this approach to our business budgets?
What if the answer to our global DEBT requires ALL OF US to make the necessary changes and have the word RESPONSIBILITY when it comes to our finances and every other area of our daily life?
(1) (2023, September 18). National Debt Reaches $33 Trillion; Adds $1 Trillion to Debt in 3 Months. Committee for a Responsible Federal Government. Retrieved September 27, 2023 from
(2) (n.d). A World of Debt. UNCTAD. Retrieved September 27, 2023 from
(3) (2023, July 12). UN Warns of Soaring Public Debt: a Record $92 Trillion in 2022. UNCTAD. Retrieved September 27, 2023 from
(4) (n.d). U.S. Debt Clock.org. Retrieved September 27, 2023 from