Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: tacticalogic
“net worth” calculations are failing to account for the share of the national debt that still has to be paid back, and that’s doubled under Obama.

Remembering that the topic's 'American net-worth' we can forget the national debt held by Americans --it gets paid back later when Americans are taxed to pay themselves and total American wealth stays the same.  We do need to count the national debt held by foreigners because eventually Americans will be taxed to pay foreigners and total American wealth will drop.  Same with debt held by the Federal Reserve because they'll have to be paid back when they need to dump their debt to fight inflation.

Here's the actual American wealth taking into account debt Americans owe as taxpayers--

--and what we got is that the average American household is over $50 thousand poorer than it was before '07 when Pelosi took over.  The good news is that households are on average $100k richer than they were when Pelosi got demoted.. 

35 posted on 03/13/2015 2:34:52 PM PDT by expat_panama
[ Post Reply | Private Reply | To 27 | View Replies ]


To: expat_panama
Remembering that the topic's 'American net-worth' we can forget the national debt held by Americans --it gets paid back later when Americans are taxed to pay themselves and total American wealth stays the same.

Okay. But assuming that "debt held by Americans" is in bonds, are they counting the value of those in "net worth" calculation, like stocks? If so then that's like borrowing money from yourself and counting it as an asset but ignoring the liability of having to pay it back.

38 posted on 03/13/2015 2:47:34 PM PDT by tacticalogic
[ Post Reply | Private Reply | To 35 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson