Posted on 10/30/2013 1:19:35 AM PDT by Errant
Each U.S. taxpayer now has a federal-debt liability of $1.1 million, and rising. Remember that when President Obama boasts that the federal deficit—the shortfall between annual revenues and spending—is declining. Of course, the primary reason for the decline is the sequester, which was his idea but now adamantly opposes. The public tends to focus on the total national debt, which just passed the $17 trillion mark—up from $10.6 trillion when President Obama took office. But that figure pales in comparison to the federal government’s long term unfunded liabilities—money the government is obligated to pay over and above the revenues it is estimated to receive. According to the U.S. Debt Clock, total long term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer.
(Excerpt) Read more at rare.us ...
The debt belongs to the hippies in San Francisco.
Hang on to your Monopoly Money... One day it may be worth more than the dollar.
Yeah but it’s all an “investment”.
It is going to pay so many dividends they’ll be beating us up in the parks and public squares, drug-running, and scamming the system in droves.
We must not let our rulers load us with perpetual debt.
Thomas Jefferson (1743 - 1826), letter to Samuel Kercheval, July 12, 1816
Sell your Monopoly Game....... buy AMMO..
I remember reading just within the last year or so, everyone’s share of the debt was around, $280k, that’s a big increase, that’s how communism works, seems to me it is almost too late, unless we get many more people like Cruz in gov’t by 2014, we are doomed, 2016 won’t matter if we don’t take over by 2014. IMO!
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