Debt is a liquidity vacuum. Massive debt, and its associated monthly debt service obligations, is an economy killer.
The U.S. economy is barely crawling, and prospects for a meaningful, sustainable turnaround are presently bleak.
Now… imagine the raw economy-boosting power of eliminating 40%, 50%, or possibly 60% of the $8.95 trillion housing debt in the U.S..
At $8.95 trillion, 4.0%, 20 year maturity, housing debt service for U.S. households is running at approximately $54.2 billion per month.
Eliminating 50% of the housing debt balance from U.S. Household Debt would erase approximately $27.1 billion in debt service per month… every month… for the next 20 years.
And that $27.1 billion, ladies and gentlemen, is fresh, new liquidity that would be walking the streets of America every month for the next 20 years.
And that is how you revitalize an economy and generate raw economic power.
Federal Reserve Bank of New York
Center for Microeconomic Data
HOUSEHOLD DEBT AND CREDIT REPORT (Q4 2016)
Household Debt Edges Up as Auto, Credit Card, and Student Debt Climb
The CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt increased by 1.8% in the fourth quarter of 2016, rising $226 billion to reach $12.58 trillion, only 99 billion shy of its 2008 third quarter peak. Balances increased across all debt products, with a 1.6% increase in mortgage balances, a 1.9% increase in auto loan balances, a 4.3% increase in credit card balances, and a 2.4% increase in student loan balances this quarter.
America’s raw economic power plan:
The Leviticus 25 Plan 2018 – $75,000 per U.S. citizen