Individual liberty cannot exist in a country where un-funded obligations, plus its current debt, surpass the total value of all private assets. This is an immutable law of nature and is the condition that exists today in our country.
Approximately 12 trillion debt (source U.S treasury), 14 trillion Social Security obligation, 18 trillion (Rx Drugs) and 73 trillion Medicare Liability (source Federal reserve) = 118 trillion. All current U.S. private assets combined = 74 trillion. Simply stated, “Debt Kills Liberty”.
This sobering choice is clear, we must stop the federal governments extra constitutional spending, borrowing and printing of money or forfeit the American Revolution and individual liberty.
If that statement seems an exaggeration, consider the possibility of California’s state government failing. Decades of abusive taxes, spending and regulation could make California the General Motors of States. Is it possible for the Federal Government to take a state into receivership? Can you hear the argument now “California is too big to fail”? How safe is Maryland? Can we tell the Federal Government to cease and desist commandeering our legislative and regulatory processes if we are “on the take” (9% current budget subsidized by stimulus Source U.S. treasury).
If state tax revenue drops 10% in 2010, due to our current economic slowdown, we have an approximate 20% structural deficit in 2010-2011. Fellow Patriots insist now, State government spending must be cut and substantially. This will free us from dependence on Federal subsidies and give us solid footing for nullification legislation to stop future extra-constitutional spending. Our state can reestablish solvency and has precedent to nullify current and proposed extra constitutional Federal legislation.
More insidious than state governments failing is willful devaluation of our currency. The treasury has printed 3-4 times the dollars in circulation in the last handful of years. This gives the federal government unprecedented leverage to buy liberty from citizens in exchange for promised security. It is our duty to rebuild the levy between centralized tyranny and individual liberty.
I urge fellow patriots to commit to personal responsibility/ self-reliance and end our dependency on the failure of centralized authority.