EVERY SINGLE MAN, WOMAN AND CHILD IN AMERICA NOW HAS A $166,000.00 PUBLIC DEBT

Robert Drobot | 18 November 2005 | Robert Drobot

[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?

[wideawake]

The number of $46T to $50T is bogus and it's even sadder to try and justify it with "interest".

Compunded interest on $6T of debt over ten years (the vast majority of US debt is between 1 and 10 years) results in a total debt number 0f 9.75T.

Take it out to 15 years - which is a gross overexaggeration of the term of US debt - and it's 12.5T

46-50 is a crackhead's pipedream.

[A message]

The title of this vanity post with no linked sources states:

EVERY SINGLE MAN, WOMAN AND CHILD IN AMERICA NOW HAS A $166,000.00 PUBLIC DEBT.

I am married and not single.

So I guess I do not owe this amount.

[mlc9852]

Now THAT'S scary! LOL

[Pookee]

Me and my kids - 4 of us, owe $664,000? To who?

To the Democrats in Congress who are spending your money at record rates.

The republicans are making the democrats who last controlled congress look like misers. Every time I hear Bush talk he is promising billions to some cause or another.

[Robert Drobot]

That "....dead horse...." is the US of A.

[zeugma]

Here's my National Debt Page. I've got tons of historical information including charts for the national debt from 1791 to the present.

[A.Hun]

Not hardly. This is just lame.

[wideawake]

Not only is your link a dead link, but it doesn't reflect the actual Fed numbers.

[Hoplite]

Robert - I think that $50 trillion number includes private household debt, so with a little over $300K on my mortgage, I can only look forward to when I owe "only" $166K.

The $27K worth of debt accrued on my behalf by the Federal Government does worry me, however.

[conservativewasp]

"the total is expected to reach $46 trillion to $50 trillion"

This is BS! Try 4.6 to 5.0 trillion. More crap reporting from cns.

[manwiththehands]

Or else we borrow money from loan sharks.

[CJ Wolf]

Hey, 12 acres of that is mine. You can't sell it.

[humint]

the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion... "How do we get a "total" of "$46 trillion to $50 trillion"?

If you adjust for inflation, under the Lincoln administration, $1 was equal to $76 billion in today's dollars, just kidding... As I understand it, we could start making these again. I understand they are very valuable!

DAMN, someone already did - Collectors set to stampede banks for new buffalo nickel

[flashbunny]

http://www.westegg.com/inflation/

Sorry, linked to the output page.

[CJ Wolf]

The states! heck My money went to buy that, not the states, Just give me and every other good citizen else 12 acres, too.

[WestCoastGal]

Do the illegals owe this as well or only us poor slobs who were born here or came legally?

[HawaiianGecko]

	This guy is spinning a bit of a lie.  Source: The U.S. Treasury http://www.publicdebt.treas.gov/opd/opdpenny.htm 09/30/2005        $7,932,709,661,723.50 09/30/2004        $7,379,052,696,330.32 09/30/2003        $6,783,231,062,743.62 09/30/2002        $6,228,235,965,597.16 09/28/2001        $5,807,463,412,200.06 09/29/2000        $5,674,178,209,886.86 09/30/1999        $5,656,270,901,615.43 09/30/1998        $5,526,193,008,897.62 09/30/1997        $5,413,146,011,397.34 09/30/1996        $5,224,810,939,135.73 09/29/1995        $4,973,982,900,709.39 09/30/1994        $4,692,749,910,013.32 09/30/1993        $4,411,488,883,139.38 09/30/1992        $4,064,620,655,521.66 09/30/1991        $3,665,303,351,697.03 09/28/1990        $3,233,313,451,777.25 09/29/1989        $2,857,430,960,187.32 09/30/1988        $2,602,337,712,041.16 09/30/1987        $2,350,276,890,953.00

 

 

[The Sons of Liberty]

I think I'll just transfer my share of the debt to the next illegal alien that comes across the border. OK here goes.

Whew. See. That didn't take long. I feel so much better now and it give me more money to spend on Christmas - not "The Holidays" - CHRISTMAS!

[Robert Drobot]

You are your source???? Remove the curtain, George. Even Texas should get a laugh out of this absurdity.

[flashbunny]

So you were alive in 1867 when alaska was purchased? ;)