27 Things That Every American Should Know About The National Debt

By Michael, on July 12th, 2012

The U.S. government has stolen $15,876,457,645,132.66 from future generations of Americans, and we continue to add well over a hundred million dollars to that total every single day day. The 15 trillion dollar binge that we have been on over the past 30 years has fueled the greatest standard of living the world has ever seen, but this wonderful prosperity that we have been enjoying has been a lie. It isn't real. We have been living way above our means for so long that we do not have any idea of what "normal" actually is anymore. But every debt addict hits "the wall" eventually, and the same thing is going to happen to us as a nation. At some point the weight of our national debt is going to cause our financial system to implode, and every American will feel the pain of that collapse. Under our current system, there is no mathematical way that this debt can ever be paid back. The road that we are on will either lead to default or to hyperinflation. We have piled up the biggest debt in the history of the world, and if there are future generations of Americans they will look back and curse us for what we did to them. We like to think of ourselves as much wiser than previous generations of Americans, but the truth is that we have been so foolish that it is hard to put it into words.

Whenever I do an article about the national debt, Democrats leave comments blaming the Republicans and Republicans leave comments blaming the Democrats.

Well you know what?

Both parties are to blame. Both of them get a failing grade.

If the Republicans really wanted to stop the federal government from running up all this debt they could have done it.

If the Democrats really wanted to stop the federal government from running up all this debt they could have done it.

So let's not pretend that one of the political parties is "the hero" in this little drama.

The damage has been done, and both parties will go down in history as being grossly negligent on fiscal issues during this period of American history.

Sadly, neither party is showing any signs of changing their ways.

Neither Barack Obama nor Mitt Romney is promising to eliminate the federal budget deficit in 2013. They both talk about how the budget will be balanced "someday", but as we have seen so many times in the past, "someday" never comes.

I didn't mean to get all political in this article, but the truth is that the national debt threatens to destroy everything that previous generations have built, and our politicians continue to give us nothing but excuses.

The following are 27 things that every American should know about the national debt....

#1 It took more than 200 years for the U.S. national debt to reach 1 trillion dollars. In 1986, the U.S. national debt reached 2 trillion dollars. In 1992, the U.S. national debt reached 4 trillion dollars. In 2005, the U.S. national debt doubled again and reached 8 trillion dollars. Now the U.S. national debt is about to cross the 16 trillion dollar mark. How long can this kind of exponential growth go on?

#2 If the average interest rate on U.S. government debt rises to just 7 percent, the U.S. government will find itself spending more than a trillion dollars per year just on interest on the national debt.

#3 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#4 Since Barack Obama entered the White House, the U.S. national debt has increased by an average of more than $64,000 per taxpayer.

#5 Barack Obama will become the first president to run deficits of more than a trillion dollars during each of his first four years in office.

#6 If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#7 The U.S. national debt has increased by more than 1.6 trillion dollars since the Republicans took control of the U.S. House of Representatives. So far, this Congress has added more to the national debt than the first 97 Congresses combined.

#8 During the Obama administration, the U.S. government has accumulated more new debt than it did from the time that George Washington became president to the time that Bill Clinton became president.

#9 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#10 As Bill Whittle has shown, you could take every single penny that every American earns above $250,000 and it would only fund about 38 percent of the federal budget.

#11 Today, the government debt to GDP ratio in the United States is well over 100 percent.

#12 A recently revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.

#13 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain does.

#14 At this point, the United States government is responsible for more than a third of all the government debt in the entire world.

#15 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#16 The U.S. national debt is now more than 22 times larger than it was when Jimmy Carter became president.

#17 It is being projected that the U.S. national debt will surpass 23 trillion dollars in 2015.

#18 Mandatory federal spending surpassed total federal revenue for the first time ever in fiscal 2011. That was not supposed to happen until 50 years from now.

#19 Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.

#20 The U.S. government has total assets of 2.7 trillion dollars and has total liabilities of 17.5 trillion dollars. The liabilities do not even count 4.7 trillion dollars of intragovernmental debt that is currently outstanding.

#21 U.S. households are now actually receiving more money directly from the U.S. government than they are paying to the government in taxes.

#22 The U.S. government is wasting your money on some of the stupidest things imaginable. For example, in 2011 the National Institutes of Health spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.

#23 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for last year would have been 5 trillion dollars instead of 1.3 trillion dollars.

#24 The Federal Reserve purchased approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.

#25 At this point, the U.S. national debt is more than 5000 times larger than it was when the Federal Reserve was first created.

#26 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 480,000 years to completely pay off the national debt.

#27 The official government debt figure does not even account for massive unfunded liabilities that the U.S. government will be hit with in the years ahead. According to Professor Laurence J. Kotlikoff, the U.S. government is facing a future "fiscal gap" of more than 200 trillion dollars.

As the U.S. economy continues to crumble, even more Americans are going to become financially dependent on the federal government.

For example, spending on food stamps has doubled since 2008. Millions of Americans have lost their jobs and have needed some assistance from the government. Since Obama became president the number of Americans on food stamps has gone from 32 million to 46 million.

But the Obama administration believes that a lot more Americans should be enrolled in the food stamp program. The Obama administration is now spending millions of dollars on ads that urge even more people to sign up for food stamps. In fact, their efforts to get even more Americans to sign up for food stamps have become very creative....

The government has been targeting Spanish speakers with radio “novelas” promoting food stamp usage as part of a stated mission to increase participation in the Supplemental Nutrition Assistance Program (SNAP), or food stamps.

Each novela, comprising a 10-part series called “PARQUE ALEGRIA,” or “HOPE PARK,” presents a semi-dramatic scenario involving characters convincing others to get on food stamps, or explaining how much healthier it is to be on food stamps.

I'm all for helping those that cannot feed themselves, but do we really need to run ads urging more people to become dependent on the government?

Of course Obamacare is going to cause our debt to balloon in size as well. It is being projected that Obamacare will add more than 2.6 trillion dollars to the U.S. national debt over the first decade alone.

So where are we going to get all this money?

We can't keep spending money that we do not have. We have got to prioritize. Every single category of government spending needs to be cut.

But instead we feel like we can keep ripping off future generations of Americans and that we will always be able to get away with it.

What we have done to our children and our grandchildren is beyond criminal.

The truth is that we should have listened to the warnings of our founding fathers about government debt. For example, Thomas Jefferson once said that if he could add just one more amendment to the U.S. Constitution it would be a complete ban on all borrowing by the federal government....

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Where would we be today if we had taken the advice of Thomas Jefferson?

That is something to think about.

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Evie

Wow so sacrifice will not matter. Then why are the propaganda. Not that I ever felt responsible working and minding my own business.
If you save you may not be better off as it can be stolen.
What a crock, no reward for a system where people poke into your finances. You have to be one of them or you do not count.
Philip S

Good article…. Parque Alegria is not “hope park” in Spanish, it is Joy Park. Fed’s promoting food stamps to Hispanics know this is right up their alley since the cultural norm for Latin American countries, especially Mexico and below, THRIVES on the Government being the source of everything. Most think it is either a “freebie” of the backs of the rich and the companies, or they think it is their right. Both views are wrong.
mondobeyondo

“Come senators, Congressmen, please heed the call
Don’t stand in the doorway, don’t block up the hall
For he that gets hurt, will be he who has stalled
There’s a battle outside
And it’s ragin’
It’ll soon shake your windows, and rattle your walls
For the times they are a-changin’…”

– Bob Dylan

Still as relevant today as it was in 1963. Perhaps more so.
(Don’t worry. No one in Congress is actually listening.)
The Claymobile

For all you people who believe the lie that Romney is a conservative and that he is the lesser of 2 evils please Google the words “McCain 2008 opposition research on Romney” and take the time to read the report. I still find it incredible that the brain-dead Republicans are making the same huge mistake that they made in 2008 by putting foward a RINO and claiming he is a conservative!!! Romney will lose to B.O.
- William
  
  The failed and phoney Kenyan born Obummer is a creation of the CIA/Illuminati. Mutt Romney is a slave of the Illuminati. It is a win/win game for the Satanic Illuminati. They back BOTH candidates. It will be a lose/lose for real Americans who cherish liberty, the TRUTH, and traditional American freedoms.
- GaryToo
  
  of course, i am not even american and i knew that romneys role as ceo of bain capital would make him an easy target at election down and dirty dirt slinging time. I can not see him having much chance.
Jim

The US dollar is going to collapse.

Buy gold & silver.

Also invest in the Australian dollar and the Chinese RMB currency. This currencies should do well in the coming years, aganist the US dollar. Australia is expected to have a budget surplus in the coming fiscal year, and as you may already know China is a surplus country. Enventually China will un-peg its currency from the US dollar, and let it appreciate it.
- GaryToo
  
  No jim, bad advice sorry. Buy physical preparation. from inside i can say australian surplus is an abysmal 1.5 billion$ achieved only through defferring spending expenses to the following year. Chinese millionairres having fleeced the country are fleeing in droves for a reason. If aust dollar goes up it kills ourfew remaining manufacturers and exporters even more. Only the mining sector which is totally dependant on china buying our ore supports the economy. over 30% of steel in china is going into dometic construction, in largely empty and overpriced buildings. That wont go on much further. The vaunted 500 billion dollar investment pipeline is not guaranteed. Many of the projected projects can be scrapped or shelved if demand drops or ore price drops. That is inevitable as european and us demand for chinese goods dries up.
  
  We will return to surplus after the next election. The liberal party is theconservative party, so opposite to what you mean by liberals. the labour (leftist) party always mismanages the economy when in govt and the liberal (right wing) party alays posts budget surplus in govt. So at next election we will start returning to real surplus not fudged figures.
  - Mal R.
    
    How the hell is it that you can post so much drivel agreeing with our resident communist Gary, and then post something like this, indicating you actually have a grasp on the reality? Alert your doctor, the meds must be working.
    - Steviewonder
      
      Gary has a point do the research…. Fake Chinese GDP has kept its people in line for years not it’s countries banks in the green……
- jason
  
  No invest in ammo and food because that will be the currency when the economy collapses.
Scott-53

Don’t forget the almost $11 trillion trade deficit for imported goods from 1976-2012.

Oil,electronic devices,clothes,etc,etc.

Also done with borrowed money.
Mark

The fundamental part about the debt is that our current monetary system is debt based.

I read a recent article on how the federal reserve cost the US economy a cumulative 80 trillion dollars in Forbes due to malinvestment. If it weren’t for the federal reserve the federal government will be running a $600 billion surplus.

It is obvious to me that we should end the federal reserve. Both parties are not serious about ending the federal reserve because the federal reserve is both parties sugar daddy directly financing 60% of the budget deficit. Members of both parties take credit when the say they slash taxes, open a new airport in their name saying it provides jobs for the community, and passing through a health care to take care of people that normally can’t afford health care and finance these project through federal spending. When things go bad as a direct result of their irresponsible fiscal policy such as rising prices and food and gasoline, they are quick to point out that it is the spectators fault for driving up those prices. One thing I found out about these politicians is that when things go right they take the credit but when things go badly they blame on the other party, or if that party is in power they would be quick to point out it would have been worse with the other party!!!

What will it take for America to realize that it is both parties fault?
misterhamtastic

At this point, I look at it like many things. Perhaps it’s time to embrace a collapse that we might dig out and rebuild something better from the ashes.
Johnny Shiloh

All this is true, yet Obama has a chance of being re-elected. That just shows that many voters do not believe in your list. If they did, traitors, treason and those who are openly destroying the future of our republic would not be tolerated. Why do the American people not rise up in mass and demand fiscal sanity of their lawmakers? Do they not know that they themselves will pay for all the borrowing done in their name? It is they who be hungry, bankrupt and homeless.
John Trainor

While the Titanic was being built and promoted as the unsinkable ship, one wise lady exclaimed, “Why that flies in the face of God!” We have a generation of inept leaders who think they can defy the laws of gravity and physics. They have foolishly squandered every merciful delay in the day of reckoning. It’s been a godsend that the world still has confidence in our worthless dollars because the dollar is the world’s reserve currency, but our leaders keep right on doing the very thing that brought this nightmare on our nation in the first place. What a sad spectacle!
Imann

Your bit on Obama is biased and one sided. There is more to accumulating debt than what you mention in your article, and for readers who know nothing of economics you paint Obama to be a villain almost. You should do a better job at explaining the accumulation of the national debt since he has been in office, there are so many variables that go into it. Decent article, but extremely vague.
NorthernCanuck

WOW!! You just HAVE to watch this three-and-a-half minute video on “Why America Is not The Greatest Country In The World…Anymore”.

‘The most honest three and a half minutes of television, EVER… ‘
http://www.youtube.com/watch?v=16K6m3Ua2nw&feature=player_embedded#!

Talk about dramatically hard-hitting and painfully truthful!

But it’s NOT at all ‘anti-American’. It’s a realistic, passionate description of what America has become today combined with a saddened nostalgia and longing for what it once actually was.

And what it could become again, if enough citizens recognized that the myth is now the problem in the way of solving and correcting the reality – which could still be done if a critical mass of people woke up, broke out of the matrix and insisted on a return to freedom and the original values that made once America great.

Watch it – you’ll be moved by it…
- mondobeyondo
  
  Definitely an eye-opener! The U.S. is NOT the “greatest country in the world”. It’s not Cuba or North Korea either (thank goodness!!) – but… when it comes to education, science, technology, etc, we are getting hammered.
  
  It’s a combination of arrogance and complacency in my view. There was a time when Muhammad Ali was the greatest fighter in the world. He is no longer the greatest in the world. In the hearts of people, maybe yes, but in the boxing ring – nope. The same goes for America.
Nickelthrower

Greetings,

It can all be summed up rather succinctly: “Someday” is here.

All the terrible possibilities that the “fringe” economists and social thinkers were discussing in the ’70′s and ’80′s are here. “Someday” is now upon us.

Not everyone realizes that Someday is now here as some of us are in different cars on the roller coaster. The wealthy, sitting in the back cars, still have the peak ahead of them but we’re all headed down so we may as well just throw up our hands, scream and enjoy the ride.
brendan

Bring all the jobs home stop exporting your overseas to china and Mexico once all your job’s are back shut your door’s and stop letting multinationals run your country
antbender

So why do chimpanzees throw poop?
- mondobeyondo
  
  They’d throw rocks at you if those were available in their cages.
  Poop happens to be, um, more convenient…heheh.
NorthernCanuck

And here is a MUST READ article – banksters beware!

Iceland is setting an example to the world…

“Iceland Has Hired An Ex-Cop To Hunt Down The Bankers That Wrecked Its Economy

Rob Wile,
Business Insider,
July 12, 2012.

If you were involved in Icelandic high finance in the runup to the recession, you might want to start watching your back.

That’s because the government has appointed a white collar crime bounty hunter who wants to haul your behind in (alive, to be sure)….”

Read more: http://www.businessinsider.com/iceland-has-hired-an-ex-cop-bounty-hunter-to-go-after-the-bankers-that-wrecked-its-economy-2012-7#ixzz20hGRRovx
- http://itsafluffy.blogspot.com DL.
  
  Dog the Banker Hunter?
  
  Makes me want to join the Marines…I’m a bit too old to do that, though. And I don’t favor violence, either. But I figure if enough ex-Army Rangers or Green Berets or the like get pissed off, enough (or if the banksters destroy USAA bank, say) I could see that happening here.
  
  And then we need “Dog the Politican Hunter”
  
  Just kidding, of course.
  
  But do not kill these suckers. Do what is done to other psychopaths: lock ‘em up, throw away the key, and let them eat each other. How about in Antarctica? Under the glaciers…
Jimmy

Our public servants have failed us & so it is time to replace them all.
Steve Barnett

We firebombed German cities and got involved in European wars and we had no business in them. We went to war with Asia just so the corporations could make billions and to move drugs. We have destroyed the Arabs and left depleted uranium to give them deformed babies for hundreds of years. We deserve everything that happens to us. We are warmongers and if this country never existed it would have saved the world a lot of suffering.
- Louise in MO
  
  To Steve Barnett:
  
  I suggest you find another country to live in!
  
  May I suggest Iran!
  - http://orbital.com ian
    
    Please do suggest Iran. And while you are at it, quit believing the propaganda machine. I know people who are from Iran and/or have visited. And they all say it is a lovely country with a very vibrant culture and history.
    - Mal R.
      
      “And they all say it is a lovely country with a very vibrant culture and history.”
      
      Which, of course, has nothing to do with the brutal dictatorial regime ruling over it. …dope.
Junipers

Many of us have had to sit down and rework our budgets over and over again. Many people have had to walk away from their homes. Even a child knows if you hand over $5.00 to spend in a store, they are not going to walk out the store with a $20.00 item. Food prices are being increased on a daily basis. WE make the adjustments to our budgets. Why is it then, impossibe for us to hold our “representatives” accountable for being so irresponsible? Unless we keep voting out the “good old guys”, things will never change. I wonder if it’s even possible to find a politician who will do exactly what they said they’d do.
http://www.thecarltonclinic.com HammerDoc

WHAT A MESS!!! This is a very good article, though sobering.

Reading the genius 20th Century author, G.K. Chesterton’s work, “What’s Wrong with the World” will help get a handle on the MESS we are in today. You would NEVER KNOW that work was written in 1910 by the way he diagnoses and analyzes the problems of the world! (You may well pick that out from cultural clues, however.) His two characters, Hudge and Gudge are key. One is the Progressivist/Socialist/Communist force and the other the Industrialist/Capitalist/Corporatism faction. They BOTH act–IN CONCERT–to repress and/or exploit Jones (who represents the common man/family). You might as well say that one represents Democrats and the other, fairly well represents Republicans.

Brilliant work, every bit as applicable today as it was when written, and more accurate than most analyses written today!
http://www.restoretherepublic.org Nick

We became a greedy, lazy, avarice, and envious nation. We fell for every agenda, and re-education program out there.
The nation that was the most generous open minded in the world, was convinced that it was uncaring, and filled with prejudice. We can’t care for everyone, and we all have some form of bias, especially so-called liberals.
Over the last few decades we have helped to build a society that has no choice, absolutely none, but to fall into a civil war. It started to become clear more than 30 years ago that the agenda was to bring blood to the streets, and now we’re approaching the boiling point.
Remember, at some point those combat vets coming back, who are put at the back of the line behind immigrants, and illegals, we’ll see that they can’t feed their family. No matter what kid of government assistance is handed out, the underlying issue will be producing good, nutritious food, and a safe environment. A skill we lost when we became this service nation who handed the menial jobs over to the people who crashed our borders.
Most of the blame is on the folks who keep voting in the incumbents, and allow the state to tell US, that’s we the People, what the law actually is.
Brandon King

A great reset wont work, it will only delay the inevitable. Albert Einstein once said that you cant fix a problem with the same level of consciousness that created it. In other words, you need to think of a new answer to the problem. One symptom of insanity is repeating the same mistake over and over sgain and expecting a different outcome. Our society is, in this sense, truly insane. The monetary system got us here, so we need something other than the monetary system to get us out, any less is just plugging the holes insteas of fixing them, eventually the water will unplug them again, and you will be in the same sinking boat. I am an advocate for Jacque Fresco’s Venus Project, which is a Resource Based Economy. Jobs and money will be nonexistent as everything will be automated, that is aleady happening today with one difference, everything is being automated but we still have money so people are losing their jobs while they still need to buy things, the monetary system is doomed to fail. It will be a society of efficency and abundance, Jacque Fresco has spent the past 75 years of his life conceptualizing and designing this society. Jacque Fresco is an industrial engineer, inventor, and author. Throughout his life he has worked for several companies, the Army, and Hollywood for industrial engineering. He invented the Trend House, a prefabricated house that gained popularity in the 50s. He is 95 and his experiences in the Great Depression and WWII had led him to redesign society itself. Its not a utopia, its not perfect, its just a whole heck of a lot better than what we have today. http://www.thevenusproject.com/
bill anderson

The author is correct when he states neither party is helping solve this situation. They are both helping the bankers at the Fed steal more from the people of the U.S. Until we change from a debt-money system to a wealth money system we will continue to flounder.
Bette

I frankly think these summations are unfair. Whenever the Republicans want to cut or freeze, the Democrats make them out to be ogres who hate the poor and want them to drink dirty water. The Republicans have a choice whether to go against them and suffer losses in the next election or go along and impugn them for blackmailing in the hopes that they can gain a majority in the next election to be able to over turn them the next time. Reagan won the vote to cut, but the Democrats later backed out of their agreement to cut 3 for 1 in the dollars spent; they lied and the nation died. It will not be different until we have a full court of Republicans to change things. Of course, then the Democrats will take everything to the Supreme Court to try to overturn the Republicans.

I’ve been watching this for my lifetime and seet the entire scenario as frustrating and heartbreaking at the same time as we see our nation destroyed.

I highly recommend a 180 page book, American-Lite by David Galernter to put this entire situation into perspective. I couldn’t put it down until it’s end.
anticriminals

National debt? What debt? What have we borrowed that we couldn’t/ didn’t print up for ourselves? This whole mess is a total fraud brought on by criminals that pretend to be our “government”. Criminals cannot represent government.
There is no national debt. Counterfeit “money” in the form of Federal Reserve Notes is a fraud. They are not money! These criminals have lent us nothing, but they sure as hell have robbed us of so much.
Why is it that people are so stupid as to not recognize counterfeiting for what it is? Why do you idiots keep on buying into this garbage? Stop paying for your own destruction. Ask these questions of yourselves: “Why do they need my money when they have printing presses running 24/7?” If you had their printing presses you would not need anyone else’s money! Why do they need yours in the way of taxes? Do you not recognize an economic war for what it is?
- Mal R.
  
  LMAO, good luck with that.
Louise in MO

I’ve been reading the articles and comments here for quite awhile. While succint and informative, there are no real answers offered. Ideas presented are downgraded by the next commenter. If you follow for awhile you can easily determine the philosophies of those who regularly comment.

We are all to blame in some way or the other for what we now face.
We should be doing what we can do to help restore our country to sanity.
- DiscouragedOne
  
  I don’t think we are in the position to “fix” it. We can try and certainly we should vote, but I think the mess in the USA is so far gone that we should also be preparing (just in case it doesn’t work out) because I think that is highly likely.
Al Sledge

“#24 The Federal Reserve purchased approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.” This is the heart of the matter. The FED “creates” this money. Why? To keep interest rates surpressed. It is a supply and demand thing. The federal demand for money increases, but willing buyers decrease as the dollar devalues. This would cause bond buyers to demand a higher interst rate, but the FED steps in as a buyer with unlimited deep pockets, buys bonds to make it appear that there are more buyers, and keeps the price high. This keeps the interest low. It is a scam. It is not Bush, Obama, Repubs or Democrats. It is the built in virus created by the Progressives over 100 years ago. Without the FED none of these spending problems would be possible. We should not audit the FED, we should eliminate it.
- DiscouragedOne
  
  Amen.
http://www.whatreallyhappenend.com BCubbins

You are fools who have been taught not to think clearly. If the “national debt” originated with loans taken out with the people as creditors, then the money is owed to the people. This is money our govmnt borrowed in the people’s name (the people’s future labor is the collateral) then WE THE PEOPLE ARE THE THE CREDITORS NOT THE DEBTORS! The people need to rise up and demand the repayment of the loan the government took out in our names.
JMorcan

I predict that future Americans won’t be sufficiently educated to understand the math presented here.
Scott

I think they have to cut defense spending (it’s $900B a year right now),
which is twice what it was in 2001.

Stop the Wars (these wars aren’t doing anything good for us, sure is a war is absolutely needed then fight it but no more wars of choice)

Get rid of the Bush tax cuts (all of them not just the ones for the Rich)were people really doing so bad under the Clinton Era Tax rates?
- Amanda
  
  Actually yes because everything costs at least 3x more because of inflation and people aren’t making as much as they did because of a lack of jobs! Why should anybody have to pay up for the government’s mistakes? We should be cutting every govt program at least by 60% and everyone in govt should take a paycut! They made the mess let them pay it off!
Craig

Remember that the communists have a long view. They think it is inevitable that someday communism will cover the world.
Their faith in this idea is like that of religious fundamentalists- it isn’t often swayed by reasonable argument or by facts.
The communist have been working in the U.S. for at least 100 years (no matter that they sometimes call themselves by other names, like ‘liberal’ or ‘progressive’
When you combine the destructive actions of the Federal Reserve, various ‘progressive’ Supreme Courts, and the control of Congress by ‘liberals’ and ‘progressives’ for most of a century, well, they’ve pretty well destroyed the foundation of our country.
The Constitution no longer means anything even close to what it actually says, and it doesn’t work anything at all like the writers of the Federalist papers said it was going to.
The debt is only one facet of the long term plan of action to destroy the U.S.
Has our education system produced a majority that believe free markets and liberty (called ‘capitalism’) are evil and unworkable?
Have they failed to educate enough people to think critically so they can understand that ‘capitalism’ is the economic system that people spontaneously create whenever they are free and have property rights guaranteed by law, so that the majority believe we can have freedom, without allowing economic freedom?
I think either fiat money or socialism by themselves are enough to guarantee economic collapse- and we’ve had both for a long time now…
Kent Harris

We need the following:
Eliminate Income Tax – 16th Amendment
Eliminate WTO
Eliminate UN
Eliminate NAFTA
Eliminate All Departments of Federal Government except Defense, Treasury, State, and Justice.
old faithfull

There is one thing for certain. Things are going faster and faster every day. God said if the last days were not shortened even the elect would not make it. We are in the end times and I have great hope in pre tribulation rapture because it looks like its going to get realy messy real quick. Christ is king and every knee is going to bow.
- Matthew
  
  Havent christians been saying that for over 2000 years?!
- yellow
  
  read your Bible, there is no pre-trib rap. The pre-Trib rap is a fable.
  - phil shesko
    
    wake up yllow
  - phil shesko
    
    yellow u are blind.
- phil shesko
  
  matthew you wouldnt no the truth if it was right in front on you.your to worried about ur self image and how much more self absorbed you can be.old faithful youre 1oo percent right.matthew and yellow are fools.fools i said the blind leading the blind.will see were they end up.
Fred Johnson

27 MORE reasons why i hate americunt back
Jane B

Sorry to say but frankly most people are so dumb that they are unable to fathom this stuff. They are more interested in junk TV..just keep sending the goodies!
Tony

The one major difference between Romney and Obama or Obama and any new incoming president for that matter is that Romney done not hate America and capitalism, whereas Obama does! That alone is going to make a huge difference! The new president who ends up running the country isn’t going to do things to FUNDAMENTALLY change America in an attempt to change a system and country he hates.
Tony

The one major difference between Romney and Obama or Obama and any new incoming president for that matter is that Romney does not hate America and capitalism, whereas Obama does! That alone is going to make a huge difference! The new president who ends up running the country isn’t going to do things to FUNDAMENTALLY change America in an attempt to change a system and country he hates.
Attila

Hi,

Reading the comments I became sad. MOST OF YOU AMERICAN PEOPLE DO NOT GET THE POINT !

Can you stop talking about money and profit? Can you start spending less, and learn how to live from less money?
You really searching for secret to make money during the collapse?
You supposed to reduce your spendings, and help each other, put the focus on relationships instead on profit.

The country I came from I made $2.5 per hour as an engineer and I had a wonderful life. Going to restaurant only maybe once in 3 month, sometimes theatre, I had 1 car, 1 bike and a very small apartment. The price of gas in my country was $9 / gallon. So we had to think when we really need to use the car. Actually what I wish is the price of gas go even more higher, around $20 / gallon would be great then you stupid people will think about when to use the car.

The next thing. You are so stupid that you hunt for the cheapest of the cheapest in Walmart, so giving your money away to china, creating jobs in china and you are the one responsible for job closings in the US !!!
You never go and hunt for local product because it is $1 more expensive even knowing you guys are making $100.000 a YEAR.
In my country to make $100.000 you probably have to work 20 years, and use train to go to work.
I`m really happy you american people will learn soon what this all means. You had the opportunity and you screwed it.
jerryo

It does not matter whether hyper inflation or collapse occurs.

Either way, you can be prepared and can prosper from what is coming
our way.

Learn from millionaires that have shown us the way.

One millionaire tells it like it is and shows you
ways to be prepared for what is to come, whether it is
good or bad.

http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=e6b01db8&chan=y

Find out what they are doing and copy that and you will be
able to weather the storm
debeddebed

The national debt is owed to the Federal Reserve, The federal Reserve is owned by
International bankers. They earn interest on every bit of paper they print or write
money on, including internet money transfers. Their objective is to enslave every
man, woman, and child on earth. This has always been their goal. They collect perpetual
interest on everything. They earn interest when wars are fought, purchase resources
when they cause recession, depressions or inflation. They control the governments thus
they control the people because the people are (in their words) stupid!.
The solution is to nationalize the Fed then cancel all debt. Return to the people what
has been stolen from them.
- Jack
  
  Well put. We need to create debt-free money to pay off our national debt. This “debt-free money” can be created by a centralized bank.
  
  Imagine a state owned bank, take the Bank of North Dakota, BND, for example. Think of 1-2% home mortgages and zero state sales tax and zero state income tax. Unemployment rates at 3%. Credit more accessible… the economy would BOOM!
Work4my$

I’ve not read all of these comments-as I don’t have time, but I don’t think pointing fingers at everyone because of their pol., rel.,…ext., beliefs are ever going to solve this problem. My momma always said when you point a finger you have three pointing back at you. We are all responsible for our national debt as we aren’t prefect ppl but instead of working on improving we are giving up & pointing fingers. No one is responsible for themselves & it’s always someone else’s problem & fault. I don’t want to work, I don’t want to be married, I don’t want to my bills, I don’t want to take care of my kids….the list goes on. We have voted the politicians in for decades who have enable us to be lazy, ignorant & irresponsible ppl that make up our country!! & unless ppl start figuring this out NOTHING will change regardless who is in office!!
William Edmisson

BRILLIANTLY EXPLAINED

This rather brilliantly cuts thru all the political doublespeak we get.
It puts it into a much better perspective.

Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $3.85

Got It ?????

OK now Lesson # 2: Here’s another way to look at the Debt Ceiling:

Let’s say, You come home from work and find there

has been a sewer backup in your neighborhood….and

your home has sewage all the way up to your ceilings.

What do you think you should do ……

Raise the ceilings, or pump out the crap?

Your choice is coming Nov. 2012.
- bj
  
  WILLIAM EDMISSON… i am putting together an eye-opening newsletter… can I use your analogy?
- Kenn
  
  Very well put and easier to understand! tnxs
John Walker

************! Most of the debt is due to unfunded wars,military waste,drug company giveaways,medicare fraud,and most of all 30 years of Ronnie Raygun and the Bush crime family trickle down voodoo economics of taxcuts for the richest Americans that was gonna make us all rich,but ended up in Mitt Romney’s Swiss bank account!!
- Mark
  
  Really John Walker? Did you read what was wrote? Look again when the debt took off. As for Romney having a Swiss bank account so what. Is it illegal? He gave more to charity than Obama and Biden put together. 10% of what he gave is more than them together. You’re a very jealous man John Walker. Jealous and a little dim, yet you’re allowed to vote. No wonder were in this mess.
  - linda
    
    Dim? And you think that because Romney gave a percent of his surplus that he gave MORE because the dollar amount was higher?
    You might want to read the Bible account of the poor widow and her two talents…what did Jesus say when his apostles said almost the same thing you posted? I’ll wait for you to read it…
John Walker

Most of the debt is due to unfunded wars,military waste,drug company giveaways,medicare fraud,but most of all, 30 years of Ronnie Raygun and the Bush crime family trickle down voodoo economics of taxcuts for the richest Americans that was gonna piss down on everybody,but ended up in Mitt Romney’s Swiss bank account!!
Concerned

There is so much evidence that there is a plan to destroy America. Both sides are in it! I believe we won’t have an election in 2012. I believe that Obama will declere Marshal Law and pospone the elections, indefinetly. Then he can arrest anyone he wants and you can do nothing to stop him. If you are so naive that you think this could never happen you are in trouble. You think whiney John Boener is going to do anything. He is passively assisting Obama in this. Have you ever seen the rediculous news flashes coming out of the media before. I remember a day when you had to be responsible for accusations that could ruin someone’s life. Now we can make up whatever story we want and face no consciequences. Where does it stop? I don’t see an end to it. I see our nation imploding on itself with the help of Hilary and the UN waiting on the outskirts to move in and take control ( minus the Constitution). They are figuring at least 250 to 300 thousand will have to be killed before they could get it under control. That is considered collateral damage that is acceptable. Wake up and smell the deception!
- bj
  
  I have many concerns as you do. Questions: why wasn’t obama properly vetted? It does seem that people on both sides of the aisle are involved. Some say it was to avoid being called racist, but aas long as you were doing exactly what you did with other candidates, where’s the problem? I have been doing a lot of research and all signs point to obama not only being raised socialist/communist, but having seriously deep rooted political support by, and ties with, communist organizations. This could explain the money he spent to hide his information. Taking down our economy and eliminating religion and guns is a big step (by obama) in that direction.
- Olga
  
  @ Concerned, I believe you are 100% correct and I have had those thought and feelings…your the first one I have heard state this: “I believe we won’t have an election in 2012″. I think this election has already been determined and Romney is just a show….I personally am scared, not for the U.S. but for my family. The U.S. we know is already gone.
- james
  
  Well , I guess you were wrong with a couple accounts of your above statements. It sounds as if you were a victim of the recession. Were you on a high and then low when everything collapsed during the previous government ?
http://TheSpiritof'76 Lovable Curmudgeon

John Walker, You cannot support ANY of your allegations with ANY real FACTS! You just quote the twisted talking points of the Marxist left wing media and bloggers, I bet you cannot think for yourself anymore, you’ve been dumbed down to nothing! YOU HAVE BEEN PART OF THE PROBLEM YOUR ENTIRE ADULT LIFE, TRY BEING ON THE RIGHT SIDE OF AN ARGUMENT FOR ONCE!
Abia The Cat

After reading the article and comments, now is a good time for me to seriously get back into gardening and hunting and fishing before rising food prices tempt me to consider food stamps to supplement rising fuel costs. I believe that by late autumn 2015, the USA will clearly on it’s way out as a world super power simply because the USA can’t pay the bills anymore. Never thought I would live through this in a million years.
mightier than the sword

Here is the answer Friends.

Freeze the Fed and convert it to a public entity.
Limit this new bank from lending diectly to the federal governmnent.

The new currency is called the greenback. $1 greenback=$1dollar

All prior debts are to be converted to real estate certificates issued to all the debt holders, including the federal reserve.

Sell federal lands to satisfy the debt.
- Kacey65
  
  The enemy is not obama or romney. The true enemy is their bosses, the 1% who have been working towards taking control of the world since the Federal Reserve Banking system began. They were planning the financial destruction of not just the US but also the UK, Canada, Austrailia, Greece, and every country in the world long before that. Financial destruction was the first step in the takeover. They have infiltrated governments and bought the cooperation of the congress, senate, supreme court and other government agencies in the US. Part of the plan is to murder 90% of the population to make control easier. The survivors of the culling will become their slaves. The debt will not be a problem for any of the countries once their plans are complete because money will not exist. If you doubt what I am saying, research the NWO, depopulation, and Agenda 21.
- http://www.facebook.com/matt.toyne Matt James Toyne
  
  you speak much sense.
matthew oshea

well it saddens me that america is in this state. whats going to happen is our debt holders are eventually going to claim whats there’s and the usa will be no longer. it will look like the map as it was back before the civil war began. but now it will be part China part japan part hong kong and a small part america. thankfully i have the ability to do something about it for my family and have been doing it for awhile now. im self sufficient my own food electricity water my recreation is outdoors im not dependent on others i grew up on a farm i hunt for what i need to eat i fish for what i need to eat i grow what i need to survive. this is my plan and ill teach any of the generations that come along to survive. im not counting on the government and neither should you or if your really scared you can always run away to Canada like the deserters did. the point is were already in trouble, instead of worrying about our kids and grand kids being in debt we need to focus on the present or we wont have a future, so you all need to teach them how to survive this. not cry about it but to evolve and live on.
- linda
  
  Are you serious? Are you telling me you actually believe creditors are just going to come here and take stuff? Like pack up the Washington monument and ship it to Beijing? I suppose the Marine Corps will help them load it…
  Nonsense. All they can do is threaten and hope we keep paying, that’s it.
  That’s the whole thing about this “debt”…it’s fake. Smoke and mirrors, sleight of hand. A paper tiger, with no teeth.
  And my children will not be “saddled with the debt”, they aren’t that stupid. Neither are your children. They will disown it, and remake the economy, like WE should have done. And they’ll shake their heads at our incredible stupidity in allowing ourselves to be held hostage by illusions.
http://www.ideafart.com Daniel McKay

The debt isn’t something that needs to be worried about now, it should be in our mind but our more pressing concern is anemic growth. We can borrow at extremely low rates, if we could invest that in something such as education, R&D, or small business loans we would spur growth and our debt problems would start to disappear.

I write about this, please check it out and let me know if you agree/disagree.

http://www.ideafart.com/2012/09/do-we-need-to-be-concerned-debt.html
- Thatisright1
  
  Government spending does not create sustainable growth. Sure, you might prop up the economy for a bit, but it does nothing to change the long-term structural dynamics of the economy.
Pingback: Is America The Most Materialistic Society In The History Of The World?
Stu

Who is too blame? All of us… We are all to blame for letting this all happen… Yes I blame the politicians, corporations, and banks… But at the end of the day its all our faults. We need to all get off of our sorry asses and turn things around before we become slaves to the taxman…I hope on December 21, 2012 something happens so we can reset the insanity!
http://www.artbypapercut.com/forum/index.php?action=profile&u=3849 Diet Pills

Hello there! Do you know if they make any plugins to safeguard against hackers?

I’m kinda paranoid about losing everything I’ve worked hard on.
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Ash

Why the ********* couldn’t I have been born before 1995? Now with my eyes I’ll probably have to witness an economic collapse on the scale of the one in 1929, America fading away as Asia comes in, America becoming a police state, and America becoming more and more similar to a third-world nation, and there’ll be nothing I, along with any one of peers, can do to prevent it from happening and, let’s face it, these assholes in charge of us won’t do anything to help. My, as well as everyone else around my age, will probably spend the rest of our lives in a Detroit-esque cesspool. And to think it all was preventable!
http://twitter.com/Dracoblai Daniel Rondeau

I found this article quite informative; until you mentioned “Jesus Christ.”
Though most of this information is factual, it is still amazing to see such well informed people still have such an apparent flaw. Haha good luck with your endeavors, maybe “jesus” will save the economy!
- phil shesko
  
  dan u are a fool.
- Colin Coomes
  
  May God have mercy on your soul sir, i will pray for you. You might pick up a bible if you would like to know how this ends.
http://www.facebook.com/people/Uptown-Sammy/100000328563063 Uptown Sammy

You sound like a Obama hater, you say both parties to blame but continually refer too Obama as if Reagan and bush were not the driving forces behind our American debt, your as irresponsible as them with you omission s of facts
darragh scully

The chinese Government fears the crash. They have about 1.4 Trillion in US bonds. US bond sales form about 25% of the total debt. The rest is the US government printing money and purchasing bonds as insurance to cover things like the baby boomers retirement funds that are already spent. In the next 25 years the debt will blow out to about 80 trillion just to cover the foreseeable. So I here China wants to convert its bonds into Equity Assests such as land and buildings in places like Newyork City. They have stated that they think it will be good for the US economy to have Chinese Businesses putting money into the US economy. I was led here from a previous story about the 10 worst cities in the US. While reading I remember reading all about Wallmart and how it bought so much Warehouse space in some of these places that even if you wanted to get a start up going in those places you would struggle to find affordable warehouse space. Soon after they arrived many of the towns businesses shut down unable to compete with the lower priced imported goods Procured by rich American Business people, many of whom are in the Forbes top 400 richest people in the world.

This is a tough reality to have to face. How cut throat America has become now.
Daniel Montes

Solution. Convert all savings to gold and silver now. Move to Puerto Escondido Oaxaca.
http://www.facebook.com/louis.widmar Widmar Louis

a measure of wheat for a penny and three mesures of barley for a penny (Revelation 6:6) = a days wage some 2000 years ago. Food prices will skyrocket before the tribulation strikes and its almost here, so 1 Thessalonians 4:16-17 isn’t too far away.
- phil shesko
  
  nice post
Jack

You know all of our debt is just numbers in a few big computers. It doesn’t really even exist. We can fix this issue easily if our politicians wanted to, but Wall St. has infiltrated the US Government and big banks will not allow us to pay off our debt.

You may say, well this guy is living in fantasy land and has no idea how economics works.

My solution to the issue: Pay the national debt with debt-free money as we eliminate private banks’ ability to create debt (credit or so-called “loans”). Use debt-free money for infrastructure investment: this can provide full-employment, the best infrastructure we can imagine, and falling overall prices because infrastructure returns more to the economy that its cost. Replace private banks with public banks as a tool to manage overall money supply (imagine 2% mortgages and credit cards from a state bank that covers your total state tax bill). That said, Americans have to demand an end our rigged-casino economy of the present that transfers trillions of the public’s wealth to an oligarchy protected by government.

Thoughts?
Truth

k let me just say this……maybe your right maybe it is the end times but shouldn’t we be discussing how to solve this debt spending or maybe posting ideas to change it,you have it in your mind that god is going to do everything for you…i find it to be a great thing that you found god go head be happy better your life, what ever makes YOU happy…but yeah this is america…freedom means respecting other peoples ideas and beliefs…but if you believe that falling on your face and excepting the fact your a debt slave is gods will? …then i feel very very sorry for you…you are what’s wrong with america today, so go head except this is the end of the world except that god wants you to fight among each other instead of solving the real problem of government corruption….. because
16,000,000,000,000 in debt cant be an accident…..you guys sound like children
illuminati

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