Posted on 08/16/2016 3:27:54 PM PDT by rustyboots
From the article; "By close of business on Aug. 12, it had increased again, hitting $14,012,909,909,536.53."
When I read this I just realized that when/if the government ever decides to (or it is forced to by "others"), the people of the United States will be the last one to get any sort of return on our money. If we get any return at all. Like the bond holders of the car companies, we will be placed last in the long line. Any financial recompense will be made to government pensions, government union pensions, and foreign debt holders. BOHICA America, it will coming soon to a neighborhood need you!!
Under stand what is coming
Deal with reality
Prepare for it
I know it would cause a massive economic upset but still I have the daydream of passing a Constitutional amendment that declares all debts in the US, public and private, void after a certain date.
This used to be called a Jubilee and even slaves would be set free.
I only consider this because my grandchildren and THEIR grandchildren will be paying for this debt even a full century from now. And we are all slaves to the banks that own this debt.
Can’t say I disagree with you there. I fear for my daughter and her life after we are gone. Maybe we should just have another Revolution and see who wins.
I’m still amazed things are where we are, 8 years after 2008. Shoot, even 9/11.
But I’m sure this shell game cannot continue forever. Not without either massive inflation or massive deflation.
I’m sure a wheelbarrow of money will eventually be required to buy a loaf of bread, though.
Just like it has been in the past.
Had some guy trying to tell me (online) last night that socialism works in Denmark, Iceland.
Sure. Sure it does.
Yeah, I thought so myself. I used to say we’ll be at 20-22 Trillion by the time BamBam leaves office.
For sure, 20 Trillion dollars.
Not including unfunded liabilities.
A third term for Obama means at least 8 trillion more in debt. We may already have passed the point of no return (no thanks to the GOP congress - they really heard the TEA party didn’t they?), but electing her will erase all doubt.
It’s not just the debt itself - it’s confidence in the dollar by the rest of the world. She has not once mentioned cutting government spending and in fact, she has promised to increase it and will most certainly promise free tuition to all. The world is watching and at some point those who truly matter will write us off and create a world currency not controlled by out of control entitlement spending by our government. They won’t have much choice because their balloon will never be as elastic as ours as long as we control the world currency.
At that point there will be great pain and violence - not just here in the U.S., but throughout the world. It will be a cataclysmic event unprecedented in world history and it almost guarantees a one-world government/one world bank on the other side.
Try this on for size then.
Letter to James Madison
Thomas Jefferson (September 6, 1789)
The question, whether one generation of men has a right to bind another, seems never to have been started either on this or our side of the water. Yet it is a question of such consequences as not only to merit decision, but place also among the fundamental principles of every government.
http://classicliberal.tripod.com/jefferson/mad02.html
I guess I misunderstood how the article split hairs on the numbers. (I asked the nice AM to delete my reply.) It’s closing-in on $20 trillion, and you’re right, we’ll be there before 0bummer leaves.
This should be Breaking as well as Frontpage News!
Trump and conservatives Must run with this.
Guaranteed this too-big-to-imagine debt is going to destroy our economy and nation.
it’s confidence in the dollar by the rest of the world”??????
Until 1965 We didn’t give a damn about CONfidence in CREDIT MONEY, we had REAL MONEY!!!
The European socialistic model was a pyramid scheme and they always fail at the point where too few produce and too many consume. For many decades they had a tight knit homogeneous society that remained productive with few people drawing entitlements, but demographics are destiny. They are also waking up to the fact that unchecked immigration of consumers will bleed them out faster. We are not as far behind as we think.
Winter is coming.
Real money is the bedrock of a nation. You are right... we sacrificed that for our politicians and bankers. They have done well for themselves. The rest of us? Not so much.
The day of reckoning is coming. It is as inevitable as the turn of the seasons no matter how many times they kick the can.
It’s not really debt.
Forgive college debt? Boy did I make a mistake paying my way through college and graduate school and paying my children’s way through college and graduate school.
De massa run? ha, ha!
De darkey stay? ho, ho!
It mus’ be now de kingdom comin’
An’ de year of Jubilo!
This is what backs your Social Security “retirement account.”
It could be a ransom ...
What is it then?
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