Jerry Rhoads
The Great American Enterprise is Broken! We now have no debt limit and $30 trillion in debt with a credit rating of, at best B-. What next? What do we do when we can’t cut checks for social security, Medicare and Medicaid claims, government payroll and interest payments to China, Japan, and millions of 10-year treasury notes with interest due and past due? Since America is insolvent, as debt escalates, the value of the dollar shrinks and cash flow disappears, America needs a third political party to act as the legislative 'swing vote' on saving the Great American Enterprise from bankruptcy and ensuring our global sovereignty. (See the following financial data reported on the debt clock for second by the second financial condition of the American www.usdebtclock.org).1. Negative net assets, using GAAP generally accepted accounting principles, means zero financial net worth when national assets of $161 trillion are less than the total national debt of $210 trillion. 2. Negative cash flow of $6 trillion in expenditures and $4 trillion in receipts every year creating accumulated deficits of $158 trillion based on generally accepted accounting principles. 3. The negative debt limit of $27 trillion suspended during the 2020 election is exceeded by $3 trillion with the credit rating declining, 4. Negative net revenue (current tax revenues are only half of budget outlays). Unfunded Federal, State, and Local Government pensions approach $900 billion. 5. Negative borrowing strength due to current insolvency and borrowing more for funding the Pandemic stimulus, Infrastructure, and the Green New Deal. 6. Negative future with new progressive administration increasing taxes, rushing into additional debt financing of social programs, with China’s CCP breathing down our necks. The American Enterprise Party( www.americanenterprisepoliticalparty.org) will represent the Swing Vote that only takes a few seats in the 50/50 Senate and the narrow margin in the House to make a difference in correcting the financial and social problems that a gridlocked Congress and progressive President have dealt with its 200 million enterprising American workers and their families.
