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EVERY SINGLE MAN, WOMAN AND CHILD IN AMERICA NOW HAS A $166,000.00 PUBLIC DEBT
Robert Drobot | 18 November 2005 | Robert Drobot

Posted on 11/18/2005 11:40:48 AM PST by Robert Drobot

According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion. ... "No American political leadership has ever willfully and deliberately mortgaged our country to foreign interests in the manner we have witnessed over the past four years," said Tanner. "If this recklessness is not stopped, I truly believe our economic freedom as American citizens is in great jeopardy." [CNSNews]

I wonder if there are any implications...

"The facts are not partisan, and they're not ideological," said David Walker, the nation's comptroller general. He should know. He's the nation's chief accountant and signs off on the government's balance sheet. America's fiscal future, he said, "is worse than advertised."

When the government next reports these numbers Dec. 15, the total is expected to reach $46 trillion to $50 trillion.

How much is $50 trillion? About $166,000 for each of the almost 300 million Americans. [Seatle Times]

American "wealth" is an illusion based on borrowed funds that will soon be cut off, followed by creditor claims. Are you ready to repay the $166,000 spent on your behalf?


TOPICS: Business/Economy; Government; Miscellaneous; Your Opinion/Questions
KEYWORDS: badmath; borrowing; buygold; buysilver; chaos; debt; facard; gopbigspenders; justprintmorepaper; money; outofcontrolspending; pretend; robbing; ruin; spendingspree; stopmebeforeispend
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To: Robert Drobot

Well I'm going to pay my share with $300 hammers and $ 600 toilet seats..I'll have a container full sent straight from China to the Treasury...


221 posted on 11/20/2005 10:47:14 PM PST by rolling_stone (Question Authority!)
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To: Robert Drobot

1. His conclusions about America's wealth being an illusion doesn't seem to be supported by his shallow analysis.
2. What is the debt to equity ratio of the US government?


222 posted on 11/20/2005 11:04:02 PM PST by Busywhiskers ("...moral principle, the sine qua non of an orderly society." --Judge Edith H. Jones)
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