Posted on 06/18/2010 5:48:15 AM PDT by T.L.Sink
[click to see the cover of the current NR magazine] About that $14 trillion national debt: Get ready to tack some more zeros onto it. Taken alone, the amount of debt issued by the federal government - that $14 trillion figure that shows up on the national ledger - is a terrifying, awesome, hellacious number. Big number, 14 trillion, and yet it doesn't even begin to cover the real indebtedness of American governments at the federal, state and local levels because governments don't count up their liabilities the same way businesses do. The states have been running a mad-scientist experiment in their pension funds, making huge promises but skipping the part where they sock away the money to pay for them.
(Excerpt) Read more at nrd.nationalreview.com ...
Looks like we’re really up sh*ts creek.
I think “O” could care less if any of these things get funded. He just wants to overwhelm public consciousness with so much of this kind of static that the other, more fundamentally dangerous changes can take place unnoticed and unchallenged.
66% of the IOUs are owned by foreign entities.
I would say that the US is no longer an independent entity...another attack could be a death knell.
We're headed for a major collision at the intersection of Reality and Sob Story Journalism. To balance the budget, a whole lot of old/young/sick/infirm/down-on-their-luck people are no longer going to be receiving direct cash payments from the government as a reward for being alive and "voting right".
The weeping and gnashing of teeth is going to be horrendous, but the end result will be what it always is - an authoritarian future government (our own, or China might do it for us) killing off the expensive excess baggage. We can choose this future, or we can grow up...I'm not hopeful about the second option.
Liberals are worried about foriegn oil dependence as a national security issue, but the economic power that the IOU’s bring to the enemies of America is ignored.
You're talking about a block of very reliable dem voters... they won't go down without a fight.
The entire left in this country is based on denying reality. Unfortunately, they will take the whole country down with them. Let us pray that there will be enough principled people left in the country to build from the destruction that their demand of something for nothing has wrought.
Did you intentionally leave out the Lazy Looters from this voting block? They make up at lest half of them, if not more.
Well the only wars fought in the last 20 years + or so have been wars financed by oil interests.
NO doubt in my mind: Foreign oil dependence is the number one most important security issue facing this nation today. The billions per day we send to OPEC are used to finance a war that kills our people and seeks to establish world caliphate.
We should note that $130 trillion is greater than the total GDP of the planet.
Sooner or later, the Zeta Reticulans are going to foreclose.
A very good amount of that money comes back to the states via American oilfield services companies, as well as American refineries who turn their crude into fuel, people always forget that.
what is that, like $400000 for each of the 325 million people in the US?
I don’t care. One life is not worth any of it.
We need to drill our own oil-take care of our own energy needs.
Otherwise the Muslims will keep draining our blood.
There’s not an error of an order of magnitude, but obviously it’s serious. Thanks T.L.Sink.
“what is that, like $400000 for each of the 325 million people in the US?”
Strictly speaking, $420,000 for each of the 309.5 million people in the U.S., but +/- 5% surely is close enough for government work.
http://www.census.gov/
Imagine being a U.S. newborn entering the world with this kind of burden on your head. Wouldn’t you be just a tad peeved that mommy/daddy/grandpa/grandma had been so irresponsible in handling the public budget?
“We can choose this future, or we can grow up...I’m not hopeful about the second option.”
I keep thinking the same thing. What party/politician is going to run on or have the metal to slash fedzilla by 50%? Not to mention the state/local messes. Makes me sad for our country.
420k owed at birth. Just damn.
What is the avg and median lifetime earnings Drc? You seem to have a handle on where these stats are!
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