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14 Fun Facts About The U.S. Government’s Massive Debt Problem

The U.S. government is currently creating one of the most colossal monuments in the history of the world.  It is the U.S. national debt, and it threatens to literally destroy the American way of life.  For decades now, this generation has been recklessly spending the money of future generations and has been convinced that they have been getting away with it.  Americans have been enjoying an obscenely high standard of living, but the party is almost over and the day of reckoning is fast approaching.  It has been a great party, but it was fueled by the biggest mountain of debt in the history of the world.  As many of us know, it can be extremely fun running up a huge credit card bill, but it can be even more painful to pay it off.  Now our national "credit card bills" are starting to arrive and nobody really seems to know what to do.  The U.S. national debt will forever be a lasting reminder of the greed and recklessness of this generation.  The truth is that the United States is NOT the "richest and most powerful nation" in the world.  Rather, we are a spoiled, bloated, greedy nation that has run up a debt so big that words simply do not do it justice.

In fact, the U.S. national debt is so bizarre that it is hard to know whether to laugh about it or cry about it.  For today at least, we will have some fun with it.  The following are 14 fun facts about the U.S. government's massive debt problem....

#1) As of December 1st, 2009, the official debt of the United States government was approximately 12.1 trillion dollars.

#2) To pay this 12.1 trillion dollar debt would require approximately $40,000 from every single person living in the United States.

#3) Now the U.S. Congress has approved an increase in the U.S. government debt cap to 14.3 trillion dollars.  to pay this increase off would require approximately $6,000 more from every man, woman and child in the United States.

#4) The U.S. government's debt ceiling has been raised six times since the beginning of 2006.

#5) So how hard is it to spend a trillion dollars?  If you spent one dollar every second, you would have spent a million dollars in twelve days.  At that same rate, it would take you 32 years to spend a billion dollars.  But it would take you more than 31,000 years to spend a trillion dollars.

#6) When Ronald Reagan took office, the U.S. national debt was only about 1 trillion dollars.

#7) The U.S. national debt has more than doubled since the year 2000.

#8) Barack Obama’s most recently proposed budget anticipates $5.08 trillion in deficits over the next 5 years.

#9) The U.S. national debt on January 1st, 1791 was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour.

#10) The U.S. national debt rises at an average of approximately $3.8 billion per day.

#11) In 2010, the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.

#12) The U.S. government has such a voracious appetite for debt that the rest of the world simply doesn't have enough money to lend us.  So now the Federal Reserve is buying most U.S. debt, and the only reason they can do that is because they basically create the money to lend us out of thin air.

#13) A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times.  That amount of money would still not be enough to pay off the U.S. national debt.

#14) As if all of the above was not bad enough, according to the 2008 Financial Report of the United States Government, which is an official United States government report, the total liabilities of the United States government, including future social security and medicare payments that the U.S. government is already committed to pay out, now exceed 65 TRILLION dollars.

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  • James C Vaughan

    Amen. You are preaching to the choir. I just hope this doesn’t end like the Titanic.

  • Rod

    It seems to me that soon money will come to an end, and Federal Reserve them will print without a stop…

  • http://www.buyerbeaware.blogspot.com David Jeremiah

    Well! Now I really don’t know whether to laugh or cry. President Barrack Obama should sing, “Don’t cry for me America.” That would be the most clear message to the American people. http://www.buyerbeaware.blogspot.com

  • Bruce Johnathan Fick

    In August,2007 I saw the Waste Management news
    divulge the then “secret” National Debt as $64
    Trillion dollars. One essential fact eludes
    citizens: That the Constitution of 1789 established what the Dollar’s comprised of in metals, their weights & measures. And that hasn’t been in effect since 1965. A Dollar is only a Dollar if it’s redeemable for 100 Copper cents. Since 1983, cents have been Copper coated aluminum. The current buying power of an FRS note compared to a U.S.Note is less than 10% of what it bought in 1941, and less than 2% of what it bought in 1907.
    Eliot Spitzer, the former Attorney General of New York, and other bona fide people claim the foreign owned Federal Reserve Bank is a Ponzi Scheme like Bernard Madoff’s. Their credit based paper a way to convert your time and your labor(the real money)into their Gold. Economists have forcast that their phony substitute for Constitutional money will cause their Monopoly money to collapse under the weight of all that black hole debt. And the result will be Zimbabwe style hyper inflation.

  • BBall

    Rothschild owns the USA. Net worth > 400 trillion. No big whoop.

  • Tom

    THERE IS A WAY OUT! ISN’T THERE?

    National Debt and Some Interesting Math (by Tom Garito)

    In combining some numeric information I recently came across and adding a few calculations, I think you will find this post to contain some very interesting math.
    Here’s the interesting math:
    If you make one dollar every second, you will have a million dollars in twelve days. You will be a billionaire in 32 years, but it will take you more than 31,000 years to make a trillion dollars. According to the national debt clock http://www.usdebtclock.org the figures as of Feb10 2010 is 12.36 trillion dollars or $113,000 for every American tax payer. Now, if you take in one dollar every second it would take you 293,000 years to pay off the current national debt and over a half million years to pay off the national debt that will have accumulated by 2020, which is a mere ten years from now. If you further take into consideration the Peter G. Peterson Foundation’s figure of an additional 45 trillion dollars in unlisted liabilities and unfunded retirement and health care commitments, that would put the [U.S.] nations’ current full obligations at $60 trillion.
    If we started now and socked away one dollar per second, it would take one million, seven hundred thousand, eight hundred years to save the amount of money necessary to pay off our debt and obligations at that rate. Please know that I am not here saying how many dollars are, or are not coming into the U.S. coffers at this time or in the future, nor am I factoring for inflation or probable hyper-inflation. The calculations are only meant to highlight the hugeness of the numbers in discussion. If these aren’t big enough, I forgot to mention they don’t take into consideration the individual debt owed by each American for home loans, car loans, credit card debt, unpaid medical bills, etc. Foreclosures on American Homes have exceeded 300,000 every month for the last eight months and our commercial real-estate financial bubble is about to burst.
    So, can you blame America’s creditors for becoming irate and threatening to put a halt to our reckless borrowing? They are even now, on the brink of cutting up our credit cards and saying, “No more!”, while actively working on a plan to force a new world currency on us.
    The problem is that there are only a limited number of ways for America to address the rapidly accelerating national debt problem. Unfortunately, all but one end in unfathomable consequences. Let’s look at the good one first. Accelerate the economy by creating quality goods and services at prices the rest of the world just can’t resist. If we can do this it will expand our economy and bring in such an influx of tax revenue that we will be able to pay off our individual and national debt in a relatively short time and live happily ever after. That sounds great, so let’s just go with this plan and end the article here.
    Sorry, I know this scenario is wonderful but in reality is so unlikely as to be off the radar. There are hundreds of reasons for it to be so unlikely. Just to name a few: Our citizens are so spoiled that we are simply unwilling to tighten our belts enough to be able to compete with willing workers and students from other countries. American students, without much of a work or study ethic, are dumming down at whirlwind speeds compared students in other countries, especially eastern countries. Reality has it that highly educated mathematicians and scientists are being turned out in other countries at a rate greatly exceeding that of the United States. This means that technological, income-generating innovations are less and less likely to come from the United States as they did in the past. American high school graduates often pick universities based on their ranking as “party schools” or because of the sports team rankings, instead of the school’s academic ranking. Another reason is that in the past 40 years the industrial capability that built America has all but disappeared. Manufacturing of commodities is beneath us, we’ll let the underlings in other countries do that kind of dirty work for us. We’ll just borrow more from them so we can buy more from them (what a good idea!). Figures compiled for 2009 reveal that of every dollar spent by the American government, 40% is from borrowed money.
    Americans do excel at some things though. We are a nation enamored with entertainment, and because of that, our theme parks are second to none. Our TV, music and movie industries are by far the best in the world with their hundreds and thousands of mansion-living, jet-setting mega stars. Every year our gambling casinos and cruise ships (none built in the U.S.) increase in number and grandeur. Our sports teams with their multi-million dollar players are also happy to be a part of entertaining us to death. I just heard a news report that said professional sports is now a 750 billion dollar industry. Think about that. Truly, a book could be written as to why we are at a point where it is now almost impossible to expand our economy and generate the revenue necessary to solve the debt problem. We also live under regulations that the rest of the world wouldn’t even consider.
    For example, the environmentalists here are using our Endangered Species Act (ESA) to stem the flow of water to the San Joaquin Valley, which produces 13% of the U.S. food supply and over half of the nation’s fruit and vegetables in order to protect a 3-inch fish called the Delta Smelt. Don’t get me wrong I don’t want harm to come to the Delta Smelt, but maybe we can work on that problem without sacrificing 40,000 jobs and 500,000 acres of the nation’s most productive farm land. Likewise, if the current cap-and–trade plan were to go into effect it would add an estimated 15% to each person’s income tax burden. This number does not take into consideration the added financial burden to consumers in the form of higher prices because there will also be added cost to business’s which of course will immediately be passed on to taxpaying consumers. Even if this program could return a partial economic payback and some technological greening advantage, the short term consequences would likely be severe, considering the extremely fragile state of the economy.
    Getting back on track, the other solutions (none of which are good) to our spiraling debt problem are: 1. Default on the debt (bankruptcy for America, if you will), or 2. Printing more and more money, thereby devaluing the dollar further and further (monetizing the debt). The latter is the most likely course of action which we will be increasingly seeing, and in fact are already seeing. This course of action will inevitably lead to hyper inflation. The consequences of both are unimaginable. Those nations that we owe money to will deplore us even more when they begin to feel the full consequences of our actions and will probably just increasingly have on their minds punishing us for our misdeeds.
    Now, let’s add a few more current dilemmas to the staggering debt dilemma mentioned above. Let’s start with rampant political corruption. Both Republican and Democratic politicians are, to a very large part, so sold out to special interest groups that they don’t have a clue about, or even care about, where the moral high ground is. They simply stagger around Washington and our State Houses, drunk with power, prestige and filthy lucre. Then there is corporate greed facilitated by deception. We also have some very serious national defense issues. This is a scary topic to think about with a rearming of the Russian bear and the rapidly expanding military might of the red dragon China, both vying for world domination over the Americans, Europeans and Muslim world. In early February of 2010 China’s Xinhua news agency reported that Senior People’s Liberation Army (PLA) officers are now urging the government to sell a percentage of U.S. Treasury bonds to punish America for weapons sales to Taiwan. Concerning Russia, did you hear that they just overtook Saudi Arabia as the world’s biggest oil producer? They also have nuclear subs patrolling off our East coast (first time since the cold war ended) and recently gave Chavez a 2.2 billion dollar credit line to buy Russian arms? They also recently stared us down concerning our planned missile defense shield along their western border and are now demanding that we tell them the ins and outs of our other missile defense systems.
    Probably the most imminent threat facing mankind though, is the volatile Middle East. Israel may very well decide that in order to maintain its very existence, it must unilaterally take out Iran’s nuclear facilities before the crazies running that country finally have the capability of fulfilling their often stated goal of wiping Israel from the face of the earth. There are hundreds of possible scenarios that could follow such a preemptive strike by Israel. I have no idea what Iran’s response might be. However, one very serious scenario pops to mind. If they blame the big Satan (the U.S.) for giving the green light for Israel’s attack they could inflict some very heavy retaliatory economic damage by blocking the shipping lanes through the strait of Hormuz. Since more crude passes through that bottleneck (controlled by Iran) than any other in the world they could quite easily inflict enormous damage to our already weak economy, not to mention the economies of Europe, Japan and the rest of the world. It’s not too hard to see how a crisis like this could lead to a real economic meltdown, even… Well, if I’m getting too negative, I’ll stop, and we can just skip this part.
    Moving on, homeland security dangers from internal and external terroristic threats, greedy unions, a rampant drug problem, a host of nations that think of us as the big Satan and pray for our demise (more and more of these are right in our own back yard – South America), prisons that are bulging at the seams, rapidly rising unemployment, even when we “borrow” (steal) money from our children and grandchildren to throw at the problem, unemployment in this country is rising at the rate of 500,000 to 600,000 per month with a true 16% to 19% unemployed and not the official government figure of 10%, our expanding gang culture, illegal immigration and the encroaching war zone at our southern border, etc., etc., etc. The list of major problems goes on and on.
    It would be something like the Titanic sinking with all the pumps out and only waste paper cans left to use as bailing buckets for those willing to continue fighting the problem. Even if there is a good size group using the buckets and they bail as fast as they can, it doesn’t touch the million gallons coming in per minute. There’s just not much of a chance that the bailers can out bail the onslaught of the inward rushing water. It would of course be the most noble thing to be doing as the ship proceeds on its downward course. Then, instead of bailing, there is a larger group who are just standing on the deck singing Kumbaya and proclaiming everything will get better, it always does, so don’t worry so much. No matter what facts are presented to this group, they remain oblivious to the fact that the ship is going down, even though it is listing to port at about 45 degrees. There is even a group within America that actually wants the ship to go down, somehow not realizing that they will go down with it. I guess it doesn’t really matter what those in the various groups think because the ship is still going down. That’s just the reality of it.
    So, if we ended here, despair would be about the only place where the conclusion of reality could possibility take us.
    Well, not quite so fast. Unlikely as it may be that most Americans will accept it, there could possible still be a way out for America! (you’ll learn a little bit about that in the last paragraph)
    Okay, let’s go back to those huge numbers of the first paragraph and be reminded of a few things the Bible says: “For what shall it profit a man, if he shall gain the whole world, and lose his own soul? (Mark 8:36) The value of a soul then, is tremendous, more than all the money in the world. So, the protection of our soul and the eternal protection of all souls that God loves should be our primary concern. Now, don’t get me wrong, I am not trying to spiritualize everything. I personally am still a noble bailer and can prove it by all the e-mails I send, petitions I sign, voting I do and by my political involvement, such as can be seen in my blog titled “National Health Care an Affordable Alternative”. If you would like to read that, it can be found at http://www.republican-leadership.com/node/763 Even if it doesn’t get much traction, I should at least get an “A” for effort in trying to do what I can.
    Now, I don’t want to scare you, but with all the troubles mentioned so far, I am afraid I must further warn you that, all tolled, they pale in comparison to a vastly greater trouble ahead for those, who, because of pride and unbelief, do not choose to accept the way of escape provided by the one true and loving God. I am talking about the “creator of heaven and earth God”, who has sent an ark of safety, a lifeboat if you will, because He is “…not willing that any should perish, but that all should come to him. (2 Peter 3:9) This provision has a little more to do with each of us as individuals, than with our country as a whole. If you are an American you probably already know of God’s provision. Do you remember John 3:16? Well, if you can’t remember, that’s okay. You can look in a Bible or do a Google search. If your pride and rebellion has kept you from accepting this remarkable gift and plan in the past, it is definitely time to reconsider.
    Won’t you let him pluck you from the turbulent waters and set you gently into the ark of his love and safety? “He that dwelleth in the secret place of the most High shall abide under the shadow of the Almighty.” (Psalm 91:1) Now that’s the place of safety where we want to be, and can be, if we will turn from our pride filled, rebellious ideas or insane apathy, and come to the cross where Jesus Christ paid our sin debt if we will but repent, believe and accept his pardon from this sin caused predicament we are now in. I pray you don’t think of this as a scare tactic. It is not, it is simply a look at reality. If you keep in mind that I am a self professed “bailer” and you still hate this article, just send me a rebuttal based on truth, logic and your own good practical ideas. I will be glad to be straightened out, and will post your well thought out, pertinent comments for others to evaluate and either give you pats on the back, or show you where they think you are wrong.
    P.S. For a complete and detailed explanation of “God’s Plan of Salvation for Man” read the Bible with an open heart. If you have wasted your time and are a last minute jumper, go to http://www.freebibletracts.org. There you will find a rough summary of “God’s Plan of Salvation for Man” in most major languages of the world. Hopefully it will give you a clear enough picture of God’s amazing provision for your way of escape from Satan, and the frightening things to come upon this fallen world, and more importantly, upon your eternal soul.
    I know I have pointed to a lot of negative things in this article, so let me leave you with a few verses that you can look up containing words of great hope and encouragement for this current hour. (Luke 21:28, Romans 13:11-14, 2 Peter 3:10-14 & John 14:1-3)
    My next planned post, will be about three possible last minute choices we, as Americans, will shortly be making. Only one of which offers a possible reprieve for our country as a whole. That one concerns God’s covenant with Solomon about Israel and its parallel application for America today (see 2 Chronicles 7:14) or the escape option granted by God to the people of the Nineveh, capitol of the Assyrian Empire, about 700 or 800 years BC. This option is probably still open to America today. The second of the three possible choices we can make will be to just wildly swing our clubs in the air while rebelling against the third choice; which is to join the coming great last ditch effort of unrepentant men and their forthcoming leader, to solve these global problems and bring their form of managed “utopia” to this world.
    Attached above is a resource list that will help you prepare yourself and others for the battle that lies ahead. You can listen online or better yet get yourself an MP3 player and download some messages for listening as you drive or go about your daily activities.

  • http://www.danielrevelationbiblestudies.com Bob Stout

    Its going to be like Germany during World War II, where you will take a wheelbarrel full of money just to buy a loaf of bread. Our government cannot continue to print money 24/7 without severe consequences. And guess what, the time is almost here for the day of reckoning. Get some food stocked up before this happens, you will be glad you did! At least three month of dryed food & water. The United States has already passed the point of no return.

  • Stu Lowndes

    Guys, I just want to say I do information relay on FB and I’m always posting your stuff…You guys and mybudget360.com are my two main sources of propaganda-free US economic info.

    Keep em coming!

    • Admin

      Thank you Stu!

      The articles that sites like ours and mybudget360.com put up would not do any good if nobody ever read them.

      We are very thankful that you get our information out on Facebook and we hope that others will follow your example. In order to wake the American people up, we need to bring all websites that are telling the truth to the attention of as many people as possible.

      Thank you again for the help in getting the word out – I know it doesn’t take a lot of time, but it is a HUGE help!

      Michael

  • http://FrankensteinGovernment Frankenstein Government

    Well struck. Been writing on this very topic for over a year. I am utterly astounded at the apathy of the American people…we have no capacity to pay this debt. Period. It’s over, somewhere near DC, I hear the fat lady singing…

  • http://welcometotrigger.blogspot.com Jesse Smith

    These facts are sickening. I recently found this site the other day and I have enjoyed it. Thank you

  • Karthik

    Thanks Admin Michael….I can’t trust the government controlled media any longer…

    I hear a lot of rumors that the gold price is being manipulated.. Can you publish an article regarding the same… It will be really helpful for a layman like me to understand

  • Steve

    These leaders with all the potential considerations will fail in their calculations and have such unintended consequences. Besides a U.S. and Global Depression that will make the 1933 Depression a cake walk. War, crime and famine will be the norm. A lynching by the middle class with nothing left will thrust violence upon the elites and the rich that the world has ever seen. If you can leave the U.S. and find a 3rd world country where they know how to survive on nothing. You may realize then you will be one of the Blessed lucky ones. For now it’s like a smoldering volcano like Mt. Vesuvius that when it blasts will leave the world looking like Pompeii. I told you so.

  • roger erickson

    Has the author of this article even bothered to think through any real implications of a nominal deficit in a sovereign country’s own currency? Reality is the opposite of what’s implied here. It’s our currency, we create it at will, and any invented “deficit” simply moves between “savings” & “checking” accounts at the Federal Reserve. Self “debt” in your own, invented currency is no more real than a deficit in pencils or printers. An economy uses currency to denominate transactions between production & consumption. Currency itself is not wealth, just record keeping.

    Deficit Terrorists are the real worry. They keep the public in line by propagating scare tactics like this – either out of ignorance or complicity – which helps keep Wall St hacks like Summers & Geithner in charge of economic policy.

    please see http://www.thenation.com/doc/20100322/galbraith

    not to mention http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/

    and http://bilbo.economicoutlook.net/blog/

    and http://neweconomicperspectives.blogspot.com/

    Henry C. K. Liu does a spectacular job summarizing modern currency (with a few spelling errors): http://www.henryckliu.com/page215.html

    http://macroeconomicwoes.wordpress.com/2010/03/09/examining-mosler-economics/

    Until then, please stick to crying “The sky is falling”, or “Wolf! Wolf!”. It would be more useful for your country.

    ps: http://www.monetary.org/briefusmonetaryhistory.htm
    A sovereign government can be [tricked] into pretending to borrow currency instead of creating it? Yes. We have!

    Prof’s Mitchell, Wray on MMT

    “Liberty cannot be preserved without a general knowledge among the people.” – John Adams – 2nd US Pres – 1797 – 1801
    (more knowledge is always needed)

  • Chris

    Bruce, cents are, since mid-1982, copper coated zinc, not aluminum.
    Bob, it was before Hitler came to power that Germany suffered hyper-inflation, not WW2.

  • http://unquietwiki.com/ Michael

    Yes, the National Debt sucks. Yes, Obama will have to spend more money. I also note that in all the number bouncing and name dropping, Reagan “only” had $1 trillion to worry about & Obama is going to spend several times that: let us not forget that a very good amount of our current debt is interest from Reagan’s debt: in fact, the GDP rise of debt from 35% to 65% during Reagan-Bush is unmatched by the 16 years afterwards; even after Bush II, we’re at ~80%.

    We ran up our card on preparing to nuke the s**t out of Russia, and now we’re using their nukes and ours to power our power plants. Bush II did a very good job of outsourcing to contractors what the military did by itself: we still have quite a few of those contracts; not to mention a good part of the government is run by Lockheed Martin now via services contracts. Unless we optimize our military and government contract spending, it will only continue to flow out to other entities at increasing cost.

    http://en.wikipedia.org/wiki/Government_debt
    http://en.wikipedia.org/wiki/United_States_public_debt

  • http://www.gmail.com Kenny Merriken

    Take a guess at what percent of our national debt ceiling was accumulated between 1791 and January 22, 1973.
    The answer lies in the reseach and study below

    Title: END ABORTION NATIONALLY OR FACE NATIONAL BANKRUPTCY

    And as ye would that men should do to you, do ye also to them likewise. Luke 6:31
    “The United States dropped a record $220.9 billion further into the red in February, the Treasury Department reported Wednesday… The cumulative deficit for fiscal 2010, which started in October, reached $651.6 billion, up from $589.8 billion in the same period the year before. The President Obama administration is forecasting that the deficit will hit $1.56 trillion this year…. In February, President Obama signed into a law a record $1.9 trillion increase to the government’s debt limit, bringing the new cap to about $14.3 trillion” CNNMoney.com March 10, 2010.
    How high is a stack of 14.3 trillion US dollar bills? It would be 14.3 X 0.0043 inches/dollar or a 970,483.8 miles high stack.
    http://wiki.answers.com/Q/How_high_is_a_stack_of_1_trillion_dollar_bills
    And how much of the 14.3 trillion debt cap has been accumuated prior to Roe Versus Wade becoming law on January 22, 1973 making first trimester of abortion legal in the Unitied States? Roughly 444 billion dollars or only 3.1 % of the national debt ceiling was accumulated between 1791 and January 22, 1973. (Please, research the data) The other 96.9 % of the national debt ceiling has been or is being accumulated after abortion in the first trimester became the law of the United States of America some 37 years ago.
    So why make a comparison between abortion and debt? As a nation, we have to ask ourselves some questions. Is conception the begining of pregnancy? Does abortion occur after conception? Is abortion the ending of an innocent human beings life? (two if twins). Is there a Creator who created man in his own image? Does the Creator, if he exists, care about abortion laws of a nation? Will He bring judgement upon a nation for passing a law making abortion legal?
    Look at the numbers. You decide. The February increase in national debt of 220.9 billion was almost half of the total national debt accumulated since we became a nation until we decided to make abortion legal. (Debt/day in 02/10?)
    Abortion is a national law. The debt is a national debt. We have a quickly growing national debt that is increasing at an alarming rate. It is like heading down the Niagara River. The pull of the Niagara Falls becomes stronger and stronger as you approach the drop off until it is too late to escape the fall. As a nation, we can still end abortion. It is not too late. We have not fallen into national bankruptcy….yet. Deuteronomy 32:35; Judges 9:56,57; Romans 12:19
    kbmerriken@gmail.com

  • http://interestingfacts12.blogspot.com Facts

    Three out of five U.S. households have an average credit card balance of more than $11,000. Paying only minimum payments at 24% interest, it would take 22 years to pay it off – and you would pay over $47,000 in interest.

  • http://google ashley

    i think th government suck n ronald regan is busted bum …..qoute mi

  • mike

    i didnt read all the comments and i might just be repeating some things, but a lot of these make no sense. im just picking one as a prime example: “#9) The U.S. national debt on January 1st, 1791 was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour.” so first of all, the entire GDP of 1791 was 75 million dollars according to treasurydirect.gov, that argument therefore falls because it wasnt a great time for america at that point either. also, the us natl det raising by 75 mil once an hour: bacicly just shows that there was inflation between 1791 and 2012, over a span of 221 years.

  • McNamara

    Hi

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