Have you looked at the Debt Clock lately - http://www.usadebtclock.com/
I think I looked at it last 6 to 8 month ago. 18 trillion and counting but the real fun stuff is if you look down the list at the unfunded liabilities. We are so screwing the next generations!
Don’t rely on medicare… its days are numbered.
Holy ****.
Well that is “change” I guess.
http://www.cbsnews.com/news/national-debt-has-increased-more-under-obama-than-under-bush/
The National Debt has now increased more during President Obama’s three years and two months in office than it did during 8 years of the George W. Bush presidency.
The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.
The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush’s last day in office, which coincided with President Obama’s first day.
The National Debt also now exceeds 100% of the nation’s Gross Domestic Product, the total value of goods and services.
Of course as of TODAY the National Debt is at 18 trillion, not 15. So he will have effectively doubled what Bush spent, I’d like to know what we bought?
The debt has been frozen by the Treasury Department for the past 15 weeks. So, the actual debt shown is not accurate by the “clock standard”. Nor would I expect it to be - they have been cooking the books on the actual debt plus TRUE unfunded liabilities. I have seen experts stating it could be as high as $250 Trillion.
It is not a matter of if the world economy will implode, it is a matter of when.
This stuff always makes me feel the need to buy more ammo.
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I have been crazy busy lately, I need to refocus my efforts on self sufficiency.
Just a PSA:
Our unfunded liabilities are surpassed only by the following two countries as a percentage of GDP:
Greece
France
This chart is sobering. Steyr, the CBS news article isn’t telling the correct numbers. It’s worse.
09/30/2014 17,824,071,380,733.82
09/30/2013 16,738,183,526,697.32
09/30/2012 16,066,241,407,385.89
09/30/2011 14,790,340,328,557.15
09/30/2010 13,561,623,030,891.79
09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm
It took 200 years to get to 5T. Simmer on that one.
Folks, debt and deficit spending are nothing more than stealing from our own children. Is this the country we want to leave them?
This will not end well. Politicians will NOT change.
You need to familiarize your self with something called a “bail-in”. When it comes to banks you are not a depositor, but a creditor. When times get sporty, you will be treated as such.
Just remember, that which cannot go on forever, won’t.
I had an economist at northwestern 2 years ago tell me there’s no such thing as a federal unfunded liability, and a debt isn’t a debt if you aren’t expected to pay it back. The conversation was an hour log but those were the highlights.
There are educated, intelligent people who are deciding policy, who think that way. They believe that the system can be continually reengineered to accommodate the liabilities. They don’t think they’re kicking the can down the road, they truly think the amount is irrelevant. Just another thing to be managed.
I can see how you could make that argument about the national debt but not the unfunded liabilities. Its just simple accounting.
The argument was that as there is no technical limitation to the monetary supply, there can be by definition no unfunded liability. Then it’s just a matter of how you distribute the increased monetary base to limit inflation. My response was that there were limits to that strategy from a practical standpoint, and at the limits existed an unfunded liability. The response was basically I didn’t know what I was talking about, the global economic structure requires US debt and if the world wants to keep turning the rest of the nations would eat whatever we did to preserve the status quo. He then smiled and did a few TV interviews saying Greece would never exit the euro and everything was fixed, and the whole issue was just sensationalism. That was 2011 or so. So four years not 2.
When Nixon took us off of the gold standard then we were pointing the nose of this fiasco in the direction of trouble.
It is no wonder there are people who believe the whole premise of a debt is a falsehood, they have been educated by the same folks who thought this was a great idea.
It doesn’t much matter if you are talking about a household or a nation, a debt with no plan to get out of it is a liability that will eventually bite you square in the back pocket.
I’m within ten years of retiring and at this point I just don’t see that happening. Regardless of my own fiscal planning if those in charge of our economy are running the show under such a irresponsible set of guidelines I’ll be sitting on the curb somewhere eating Cat Food and Ritz crackers with a million dollars in my bank account.
Votes and cover ups.
I see that some people are still hang on to the tired old argument that we are stealing from future generations with our debt. Do you think that argument resonates in a country where the harvesting of infant body parts for profit is tolerated? Really?
I bet 40% of the population would support Planned Parenthood’s practice if the profits were used to pay for social welfare programs. They’d see it as killing two birds with one stone; pay down the debt while simultaneously reducing the number of children that we are stealing from…win-win.
Sooner or later the Dollar will go kaboom. Those unfunded liabilities will never be paid.
Tick-tock . . . Woodrow Wilson signing the Federal Reserve Act, Fabian Socialist and their fractional reserve banking, Central Bank cabal, et al.
Yes, I don’t think they will be sharing our Cat Food and Ritz crackers dinners and it’s a shame that they no longer make Ripple as I’m sure it would get the Kitty Food taste out of our mouths.
The thing I don’t think they have counted on is just how angry the Man on the Street is going to be when it all goes South. I’m thinking there just aren’t going to be enough hiding places for all of these guys.
Google search the term “bolthole”.
Panicked super rich buying boltholes with private airstrips to escape if poor rise up
http://www.mirror.co.uk/news/world-news/panicked-super-rich-buying-boltholes-5044084
Where your boss will be come the revolution: ‘Boltholes with airstrips’ in New Zealand that are being bought by world’s super-rich who want a hideout in case of ‘civil uprising’
http://www.dailymail.co.uk/news/article-2931325/Super-rich-buying-property-New-Zealand-bolthole-case-west-goes-meltdown.html
This story has been proven as a lie and propaganda from an extremist group. Neither my nor your beliefs on abortion matter in this instance, I’m just saying that on m4carbine I expect to not see professionals giving credence to proven lies. My apologies if you didn’t already know the status of this video as being bogus and edited to show something that is not true.
Glad it was all just a hoax. When they were talking about “crunching” up babies and such, my stomach was churning. For a moment there, I actually thought there was cold-blooded evil in this world.
Good to know the whole thing was just overdubbed.