America is silently suffocating its economy under a monstrous debt load that the Governmental Accountability Office (GAO) terms, “unsustainable.”
Do our Washington Democrats and Washington Republicans have a strategy to deal with this? Answer: “No.”
Does the Federal Reserve have a plan..? Answer: “No.”
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Federal Reserve Bank of New York
HOUSEHOLD DEBT AND CREDIT REPORT (Q1 2022)
Mortgage and Auto Loan Balances Help Push Up Total Household Debt
The Quarterly Report on Household Debt and Credit for the first quarter of 2022 shows a solid increase in total household debt of $266 billion, to $15.84 trillion.
Balances now stand $1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic. Mortgage and auto loan balances rose by $250 billion and $11 billion, respectively, in the quarter, although originations for both subsided from historically high levels in 2021.
Credit card balances declined by $15 billion, in line with seasonal trends typically seen at the start of the year, but are still $71 billion higher than in 2021:Q1, representing a substantial year-over-year increase.
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St. Louis Fed – Federal Reserve Economic Data (FRED)
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Main Street America does have a plan.
The Leviticus 25 Plan has the power to eliminate enormous amounts of mortgage debt, credit card debt, school loan debt, and auto loan debt.
It will generate massive gains in tax revenue flows and outlay reductions for federal, state, and local governments.
The Leviticus 25 Plan will conservatively generate $583 billion surpluses each of the first five years of activation (2023-2027). And it will completely pay for itself over a 10-15 year period.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4131 downloads)