During an interview conducted in September 2009 pertaining to the Bush and Obama bailouts and their impacts on the public debt, professor Michel Chossudovsky analized two of the most expensive practices used by the United States government to maintain its monopolistic position in the world.
According to Chossudovsky, the bailouts and defense expenditure “eat up” almost the totality of federal government revenue. This leaves near zero funds available to finance the rest of government obligations, which a reason why the US needs to continue printing fake money and growing its debt.
In sum, the United States uses the fruit of the labor of its citizens to pay off an unpayable debt which in turn it uses to maintan its status as “The Empire”. As of right now, the US Federal Government’s debt hovers around $59 trillion. That debt includesNational debt, which accounts for about $ 17 trillion; and Federal spending, which adds up to $17 trillion. The average portion of the US debt per citizen amounts to almost $55,000 and $148,000 per US taxpayer.
Watch Professor Chossudosky’s complete interview with the Corbett Report below.