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

By: McNamara

McNamara — Fri, 22 Feb 2013 01:24:00 +0000

By: mike

mike — Tue, 12 Jun 2012 04:23:48 +0000

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.

By: ashley

ashley — Wed, 01 Feb 2012 00:31:38 +0000

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

By: Facts

Facts — Wed, 26 May 2010 18:47:18 +0000

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.

By: Kenny Merriken

Kenny Merriken — Mon, 26 Apr 2010 18:18:17 +0000

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

By: Michael

Michael — Thu, 01 Apr 2010 05:49:31 +0000

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

By: Chris

Chris — Sat, 20 Mar 2010 13:43:58 +0000

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.

By: roger erickson

roger erickson — Mon, 15 Mar 2010 16:59:57 +0000

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)

By: Steve

Steve — Fri, 26 Feb 2010 05:33:01 +0000

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.

By: Karthik

Karthik — Wed, 24 Feb 2010 21:40:05 +0000

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