The national debt currently stands at $9.2 trillion, and will surpass $10 trillion within just two years. Divide the current number by the US population of 300 million, and you get a static liability of $32,600 per person. In other words, every "anchor baby" born on US soil automatically is on the hook for that amount of money. The picture gets worse if you look at future obligations. In 2006, the Government Accountability Office estimated that each full-time worker in the US had an unfunded liability exposure of $400,000, meaning he or she would have to pay that much over a working life toward financing federal "entitlement" programs. How many mothers-to-be would continue into the US if they were handed those figures at the border?!! Given those shocking numbers, it seems we could use all the workers we can possibly attract just to dilute the burden.
Since our political "leaders" in Washington, DC, steadfastly refuse to run the nation's fiscal accounts on an adult basis (see how they are rushing to send us checks funded by the Chinese this election year under the guise of "economic stimulus"), I predict we will see a reversal of the "anchor baby" phenomenon: expectant American parents may want to abandon the US in order to have their children in a country that offers jus soli or birthright citizenship and also has its books in order. An obvious choice in this regard is Canada, which has run a budget surplus for over a decade and enjoys a declining national debt both absolutely and as a percentage of GDP. In short, it is a country where a baby can start life with a basically clean slate, free of financial anchors.
5 comments:
Your prediction is already starting to come true. White professionals from the US have been going to Canada for years.
Hah, between this post and your previous Edwards slam, you have given me something to think about. And I was an Edwards supporter, too.
Charming blog you've got here. You have an original voice. Thought I would drop by from Philip Weiss - I notice the brevity and topicality of your comments. Thanks.
This is ridiculous. More hyperbole from the Dingle Berry of Rudely Stamped.
Any country can achieve a budget surplus by simply drawing more taxes from its citizens. Why is Canada overtaxing is people? That isn't necessarily a good thing.
The U.S. national debt as a percentage of GDP is actually about what it was in the 50s. Being in debt to one's own people isn't necessarily a bad thing either. It isn't like a bank loan or your checkbook. The government never has to pay it off.
Two points, Anonymous:
1. "The U.S. national debt as a percentage of GDP is actually about what it was in the 50s."
In the '50's, debt levels were high - but dropping rapidly! -after the "all out" effort to win WWII.
What's our excuse this time?
2. "Being in debt to one's own people isn't necessarily a bad thing either."
That argument has some merit, except that the US' debt is now owed increasingly to China, Japan, and the Persian Gulf nations.
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