Posted on 08/02/2025 8:49:33 PM PDT by SeekAndFind
Something doesn’t add up. I was told in 2012 by a member of congress that using GAAP, the feds were on the hook for North of 220 Trillion, at that time. The KungFlu sure must have cleaned up their obligations for them to be less than 200 Trillion now.
No problem. There is only one legal money printing machine in USA and the Feds have it. They can dispense gazillion worthless dollars.
Excellent information. People forget Ron Paul taught economics... He knows exactly what he is talking about and we should listen.
Off the books debt is 150 trillion.
This is all a bit shaky.
Money isn’t owed until it is borrowed. Explicitly borrowed.
If you promise future pension benefits, and then refuse to pay them, THAT IS NOT A DEFAULT.
Default is strictly and only the failure to make an interest payment on a loan, or retire a debt instrument when it matures.
Failure to pay benefits is not default. It’s ugly and there will be people who phrase it to equate failure to send money promised with interest on debt, but it is not that.
If the $150 trillion is a liability, then it is an asset for the people to whom it’s owed.
Therefore, you can increase the $169 trillion of assets by $150 trillion.
Bonds and foreign debt is explicit.
Owen is again, of course, part of the problem.
Where did all the money go?
Roads and bridges need fixing yet rarely do. Even the largest projects don’t make a dent in that $37 trillion + amount.
1 trillion is a number so large that no one can actually comprehend it. I would like to see a number that relates to the percentage of a person‘s income tax that goes to paying the national debt. If for example, a person pays $10,000 income tax and $3000 of it is simply going to pay interest on the debt, people would be more interested in reducing that debt. Does anyone know what that number is?
47 percent don’t pay taxes at all. That needs to change. I think until everyone pays something, they won’t understand or care about debt.
At the end of the day it really doesn’t matter that much. They’re like a family that makes $50,000 a year and Believe they have $10 million only to find out they owe a trillion dollars.
For family it all the Malaysians in bankruptcy. For a country, it only just ends up in war. The devil never be paid off. The important thing is that if they owe you money you get yours.
And that war will almost certainly be preceded by hyperinflation. Is may sound a little selfish but my one saving grace is that I’m old and will be dead before it happens or I’ll be sold when it does happen that I don’t care. Actually I already am. Nobody lives forever.
Have to million should be OWE ten million
One way to grasp its size is to make it small. That is imagine that 100 trillion dollars is the length of the football field. Now imagine how long a million dollars is. This is the way I do it.
That’s what really allows one to realize that this is utterly hopeless. It’s not a matter of if, but when. In fact I expected it to already have happened except I had no idea how far down the road they could continue kicking the can. But that end will come. And it’ll probably be preceded by ridiculous hyperinflation. Since they can always print their way out of it. The simple fact of the matter is a lot of people aren’t going to get the money they are owed. People, and organizations and countries. But that day could be a day off or 100 years off. Personally I can’t imagine going another 5 years.
And the post I just posted speaks to why I left Seattle for rural Kentucky acreage 14 years ago.
My retirement plan wasn’t to have a lot of money but to simplify my life. So I just made sure I was debt free so I don’t have to pay any taxes on my social security in my life is absurdly simple. Though stress is important when you’re old. 👍
I give up. My phone needs a hearing aid. I didn’t say anything about Malaysians. I got to quit speaking into the phone.
It is almost 40%.
https://www.foxbusiness.com/money/how-much-your-tax-money-goes-toward-servicing-us-national-debt.amp
That’s great. I’m almost debt free. About 48K left on my mortgage. I’m 56 so definitely will be debt free by 67. I do have to build the net egg a bit more. If the United States stays solvent, we should have a nice retirement. Unfortunately, a lot of it isn’t in our hands but the crazy government.
Wow! 40%. That is a number that each taxpayer can wrap her head around. Those of us who pay off our credit cards every month cannot imagine spending money we do not have on non- essentials that would require us pay interest every month.
Politicians are devious to us in so many ways.
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