US Government is 54+ TRILLION in debt!

[tangent4ronpaul]

WOW! - largest number I had heard before was 11.5 Trillion...

They were just talking about it on C-SPAN during the financial hearings - Greenspan, etc are testifying...

According to last years report, the US Government was 54 Trillion in debt.
In 2005 they were 46 Trillion in debt.
The Chairman of the SEC was unable to come up with even a ballpark number for how far in debt we are today because "the situation is too dynamic"...

These numbers are based on a little known US Gvmt report that most members of Congress have never heard of, and only 4 receive by default called "The Financial Report of the US Government" - it is the ONLY report with audited numbers...

http://www.gao.gov/financial/fy2007financialreport.html

I'm just kinda stunned....

C-SPAN re-airs these hearings a couple of times every day - evening and middle of the night generally...

Just to wrap your mind around what a HUGE number a Trillion is - and these are from memory, so I'm probably a bit off here...

A Trillion SECONDS ago Neanderthals walked on the Earth.
A stack of one Trillion dollar bills would reach the moon and make it a third of the way back.
I forget how many times how many times a Trillion dollar bills laid end to end would wrap around the equator, but it was a large number... likewise a cube made out of a Trillion dollar bills was measured in miles...

-t

[Truth Warrior]

Our $100 Trillion National Debt by Bill Walker (http://www.lewrockwell.com/walker/walker34.html)

[D.H.]

Thanks for the info Tangent. You know what is sad? I heard a figure like this on Coast To Coast a few weeks ago. How can their guests come up with these things and no "real news" does. (I can't quote them to people and be taken seriously due to much of the talk being about UFOs and Bigfoot sightings LOL). Pretty bad that I am getting more accurate financial info from them.

[Kade]

Thank you George Bush!

[Truth Warrior]

Thanks for the info Tangent. You know what is sad? I heard a figure like this on Coast To Coast a few weeks ago. How can their guests come up with these things and no "real news" does. (I can't quote them to people and be taken seriously due to much of the talk being about UFOs and Bigfoot sightings LOL). Pretty bad that I am getting more accurate financial info from them. Then you may not want to hear about the QUADRILLION $ in derivatives world wide. :D

[D.H.]

Thanks Truth Warrior. :( I will sleep really good tonight. I read the article you posted too. WOW

[Truth Warrior]

Thanks Truth Warrior. :( I will sleep really good tonight. I read the article you posted too. WOW :cool: Pleasant dreams! :D

WOW, was my thought too. ;)

[constitutional]

Thanks Truth Warrior. :( I will sleep really good tonight. I read the article you posted too. WOW

Never trust a guy who writes all of his posts in bold letters.

[Indy4Chng]

Thank you George Bush!

Yes cause we would have no debt, butterflies would fly free and the world would be perfect utopia if Gore or Kerry won the election. :rolleyes:

[Truth Warrior]

Never trust a guy who writes all of his posts in bold letters. Never trust a bitchy posting "style" sniper. :rolleyes:

[mport1]

Our $100 Trillion National Debt by Bill Walker (http://www.lewrockwell.com/walker/walker34.html)

Yep, that sounds more like it, although it is probably a little higher than that.

[nbhadja]

Thank you George Bush!

You mean thank you George Bush, Bill Clinton, Al Gore, Obama, McCain, John Kerry, Rudy etc.

[Truth Warrior]

Yep, that sounds more like it, although it is probably a little higher than that. Yep, that article was written BEFORE the recent bailout(s). :p

[hotbrownsauce]

Bob Bowman was one of the first people to bring our true national debt to my attention. You have to figure in social security and all of that money we've already spent that was supposed to be saved. It's a big number.

[Truth Warrior]

It took the Federal government 60 YEARS to spend the FIRST BILLION $.

[surf]

when you combine state and local gov't debt, the figure must be higher than this, but if $100 trillion is the figure, that's about $333,000 per person! my 6 month old nephew was born with this hanging over his head...

[v00513]

Well, the US is an empire of 200 or so states (why else would the Islamic Republic of France for example be a republic instead of its own, free standing, country?), so 54 trillion is nothing when its divided by 200 "republics" you've successfully installed democracy (one of the many forms of bolshevism) in.

[shuffleproshaq]

Is there a video of this?

[aravoth]

Thank you George Bush!

Not defending King George's actions at all, but seriously, every single president and fed chairmen since Kennedy did this.

[FindLiberty]

when you combine state and local gov't debt, the figure must be higher than this, but if $100 trillion is the figure, that's about $333,000 per person! my 6 month old nephew was born with this hanging over his head...

This is no problem at all if they can just ban abortion, open the borders and up the CO2 tax rate by a measly 2%, then the yearly deficit can be made up in volume as is historically evident. 'Cause, fool, there are new plans in the Obamanation Administration (1Q09) for the mandatory government youth propaganda camps to start two years earlier (free 2 yr pre-skool "boot camps" before Kindergarten even begins) so that your 6mo baby can go to work much sooner and start paying off his share of the growing 0.1 quadrillion Amero in future and derivative obligations*.

so, GET OFF OF THESE RPFs AND GET BACK TO WORK, SLAVES. ...and pay your taxes to "reduce the debt" so they don't have to print up quite so much money each year to meet the "demand" for higher and higher gubermint spending.

*(Keep in mind these obscene "debt" obligation figures are just a indication of the degree of total inflation that has already taken place. They do not need to ever be paid back in any way. It represents monetary value that has already been extracted from the economy and effectively stolen from the people via debasement of our money. “Thank God we are so trusting” should be printed all debts, public and private. The National Debt is like an anti-matter, negative mirror image of a business lease where the entire building is bought out for only $1 at the very end of the 30 year lease, except in this case, the government started out only borrowing $1 by printing a new dollar out of thin air about 230 years ago. The creation of this “new money” has increased to the brink of creating a financial black hole that will eventually suck everything and everyone into its escape-proof crushing vortex of hyperinflation.)

[escapinggreatly]

Honestly, I don't think it's fair to combine actual debts with social program payments that are supposed to be made in the future and could either theoretically be changed or be paid in a good economic year with a budget surplus.

Debt is debt. Social programs are something else.
__________________

http://www.meltingpotproject.com/photos/uncategorized/2008/10/22/libertariansig.jpg
The Melting Pot Project: Proportional Representation. New Parties. Intern Jokes. (http://www.meltingpotproject.com/)

[Truth Warrior]

This is no problem at all if they can just ban abortion, open the borders and up the CO2 tax rate by a measly 2%, then the yearly deficit can be made up in volume as is historically evident. 'Cause, fool, there are new plans in the Obamanation Administration (1Q09) for the mandatory government youth propaganda camps to start two years earlier (free 2 yr pre-skool "boot camps" before Kindergarten even begins) so that your 6mo baby can go to work much sooner and start paying off his share of the growing 0.1 quadrillion Amero in future and derivative obligations*.

so, GET OFF OF THESE RPFs AND GET BACK TO WORK, SLAVES. ...and pay your taxes to "reduce the debt" so they don't have to print up quite so much money each year to meet the "demand" for higher and higher gubermint spending.

*(Keep in mind these obscene "debt" obligation figures are just a indication of the degree of total inflation that has already taken place. They do not need to ever be paid back in any way. It represents monetary value that has already been extracted from the economy and effectively stolen from the people via debasement of our money. “Thank God we are so trusting” should be printed all debts, public and private. The National Debt is like an anti-matter, negative mirror image of a business lease where the entire building is bought out for only $1 at the very end of the 30 year lease, except in this case, the government started out only borrowing $1 by printing a new dollar out of thin air about 230 years ago. The creation of this “new money” has increased to the brink of creating a financial black hole that will eventually suck everything and everyone into its escape-proof crushing vortex of hyperinflation.) And yet the clueless "sheeple" just keep on voting and reelecting the bastards that create and sustain this mess and travesty.

Go figure! Pathetic.

[idiom]

Honestly, I don't think it's fair to combine actual debts with social program payments that are supposed to be made in the future and could either theoretically be changed or be paid in a good economic year with a budget surplus.

Debt is debt. Social programs are something else.

There will never be enough political will to look far enough ahead.

The only way to fix the situation is to reset the entire U.S. economy.