The UK is finally repaying its final financial debts to the US for the loans we granted under the Lend Lease program in World War II. The total cost of the debt was a meager $4.33bn with a 2% APR, quite reasonable interest rates by any means. It only took 65 years and 3 generations to fulfill its obligations. A further cost to the British Empire was, well lets say, the loss of its empire, which evaporated after the war, costing the UK trillions of additional dollars.
The reason why I bring this up in the first place, is simply to remind everyone that the national debt of the US continues to rise at staggering rates. Even in a time of war, the ultimate costs must be measured before forces and policies are committed. In a time of peace, to allow the national debt to balloon in such an exponential rate is quite literally insane! The US debt is $ 8 , 6 1 6 , 5 6 2 , 3 0 3 , 8 8 2 . 8 7 !!! This is something I have reported on repeatedly, but it never seems to catch the attention of any national press.
I can tell you this, if my household expenditures exceeded my net income by this margin every year, my children would be living in trailer parks, if not taken away by social services before that for lack of food to eat. We live in a nation not unlike a family home, and this insane policy of giving us illusions of false prosperity by maxing out our credit cards is bankrupting everyone. How stupid can you be to not realize this?
Further, if it took the UK 65 years to pay off its $4.33bn debts, how long will it take the US to pay off its 8.6 trillion dollar debts? By that rate it will take is 1000 years to pay off our unnecessary peacetime debts (which are largely going to large corporations and the rich who send or reinvest their money overseas).