America is in a ‘slow-burning’ debt crisis.
National debt – current: U.S. National Debt Clock : Real Time – reports the national debt (on a cash basis) at $17.954 trillion – as of November 22, 2014.
Budget deficits – 2013, 2014:
The U.S. Government budget deficit for 2013 came in at $680 billion. The most recent annual budget deficit, for the fiscal year ending September 30, 2014, came in at $483.35 (WSJ Oct 15, 2014).
The Congressional Budget Office projects deficits to level off between $500-$600 billion over the next several years, and then begin climbing rapidly up to the $7.1 trillion level by 2024.
Budget projections (2013-2024) – CBO:
Note – CBO forecasts are typically based upon what is known as the “rosy scenario” economic baseline. The budget deficit projections listed above are likely to be worse than anticipated.
This will not end well if something doesn’t change soon to get America moving again.
The Leviticus 25 Plan is the bold, new plan that will do just that.
The Leviticus 25 Plan grants the same type of direct liquidity infusions to U.S. citizens that the Federal Reserve granted to institutional fiduciaries during the banking crisis of 2007-2010.
The Plan assumes an 80% participation rate by U.S. citizens, with a $16.8 trillion credit extension through a Citizens Credit Facility into Family Accounts and Medical Savings Accounts of participating citizens.
The Plan’s recapture provisions alone would amount to a massive $1.694 trillion annually for each of the first five years.
Government budgets are currently projected to average $600 billion annually over the coming five years.
The Leviticus 25 Plan would therefore generate an average of $1.094 trillion in annual budget surpluses during each of those years.
$1.094 trillion in annual budget surpluses, every year for the next five years – that would be transferred back to the Federal Reserve to begin a gradual balance sheet reduction.
Recapture projections do not include the additional tax revenues that would be generated from a revitalized economy with more American working, paying taxes, and contributing to Social Security, Medicare and Medicaid trust funds.
Recapture projections do not include the annual interest expense savings from not accruing an average of $600 billion in additional debt annually over the next five years.
Recapture benefits do not include the additional tax revenues and cost savings that would be realized at the state and local levels.
The Leviticus 25 Plan recaptures $8.468 trillion (over 50%) of the $16.8 trillion outlay during the initial 5-year period.
The Plan further assumes that over the course of the next 10-15 years, continuing benefits from ”dynamic inertia” would generate ongoing Fed balance sheet reduction, back to pre-expansion levels.
Message to Congress: your status quo economic strategies are not acceptable.
It is time for change. Economic liberty. Free-market economic growth. Change in America’s debt dynamics.
The Leviticus 25 Plan 2015 – The $70,000 Solution The Leviticus 25 Plan 2015 (637)
Income tax refund recapture:
The Leviticus 25 Plan’s recapture provision regarding income tax refunds (where participating families agree to give up their tax refunds for a period of 5 years) will provide for a massive revenue recapture. The IRS issued a reported 102,139,000 refunds in 2014 totaling $274.7 billion. $274.7 billion X 80% participation = $220 billion / year for five years for a total of $1.1 trillion.
Means-tested welfare recapture:
Cost savings over the course of a 5-year ‘recapture period (federal and state spending): Average Means-Tested Welfare spending of $1.1 trillion/year X 80% X 5 years = $4.4 trillion
Cost savings over the course of the 5-year ‘recapture’ period:
57 million Medicare recipients (projected average per year for the next 5 years) X 80% X 5 years X $4,000 deductible = $912 billion
Note: The Plan also assumes that with individual Americans managing the first $4,000 of their Medicare eligible expenses, fraud, overcharges/billing errors would be reduced.
Federal Employees Health Benefits Program (FEHB) recapture:
Cost savings over 5-year ‘recapture’ period: 5.539 million X 80% X $4,000 X 5 years= $88.6 billion
Cost savings over 5 years: 9.6 million recipients X 80% X $4,000 X 5 years = $153.6 billion
Supplemental Security Disability Income (SSDI) recapture:
Cost savings over 5-year ‘recapture’ period: $146.6 billion X 80% X 5 years = $586.4 billion
Supplemental Security Income (SSI) recapture:
Cost savings over 5 years: $57 billion/year X 80% X 5 years = $228 billion
Unemployment insurance benefits recapture:
Cost savings over the 5-year ‘recapture’ period: $111.6 billion X 80% X 5 years = $446.4 billion
Miscellaneous recapture: Stimulus spending – Additional stimulus bills would not be needed.
Corporate welfare recapture:
Cost savings over 5 years: $85 billion/year X 5 years = $425 billion
Total from Recapture Provisions:
The Leviticus 25 Plan total recapture benefits over the first 5 years of the program: $8.468 trillion