Posted on 10/03/2018 12:49:31 PM PDT by fugazi
Congress admits to having already spent $21.5 trillion (that’s $21,500,000,000,000.00) they don’t have. If you are a taxpayer, your share is a little over $58,000. What your senators and representatives would rather you didn’t know is that our reported debt is like an iceberg: what you see is only the tip. 90 percent of the iceberg lies under the surface.
The dirty little secret is that we are obligated to pay around $115 trillion – on top of the national debt – to programs like Social Security, Medicaid, and Medicare.
[...]
Altogether, the U.S. federal government has run up a $136.5 trillion bill that will have to be paid, using figures from usdebtclock.org. Accounting for the unfunded liabilities, every single taxpayer in America is currently on the hook for just under $1 million dollars. And that doesn’t count the $10 trillion or so of local and state debt and unfunded liabilities.
What does $136.5 trillion look like?
If the Treasury Department printed out 136.5 trillion one-dollar bills, it would cost us $7.6 trillion. It would take the Bureau of Engraving and Printing over 200 years to stamp out the notes. And since our currency is made of 75 percent cotton, we would need to commandeer every cotton farm in the United States. For the next 28 years.
If you started a stack of our crisp, new dollar bills on your coffee table, you could keep stacking until you reached the moon, which is close to 238,855 miles above your table. You’d have enough bills left over from our pile of 136.5 trillion to do 38 more stacks to the moon. If you were to tape the bills end-to-end, the line could wrap around the world 531,000
(Excerpt) Read more at victoryinstitute.net ...
“Sometimes I wonder if folks who write such things even realize that the obligations become due over many years, or if they just like to write doomsday articles.”
They do it to sell financial newsletters or to get hits online. The pitch is based upon the fact that a lot of people don’t know how finance works and it’s easy to con them with scare stories.
Once President Trump has enough PATRIOT Republicans in the Senate and the House, he can pass his agenda without needing the “help” of the RINOs.
THEN, as the Democrat party splinters into oblivion, we can primary out the RINOs.
Jinkies, foiled again! I almost away with tricking people into thinking that over 100 trillion in harmless debt and unfunded liabilities was something to be concerned about... if it wasn’t for that dog and those stinkin’ kids!
If 136 trillion isn’t such a big deal, at what dollar amount should we be concerned about a federal government that takes in trillions of dollars and spends/commits to spending many, many trillions more?
5 Myths About U.S. Government Debt, by Samantha Azzarello, Global Strategist, J.P. Morgan Funds
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