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27 Things That Every American Should Know About The National Debt

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.

  • Guitar Man

    One thing everyone overlooks. The American “national debt” is the biggest FRAUD ever perpetrated on the American Sheeple, therefore, since it is FRAUD, we don’t owe the ************* one thin dime AND NEVER HAVE OWED THEM ANYTHING !!!

    • Martin

      Even if as private person you pay nothing to wards national debt, the existence of this debt will still make you very poor.
      That is because most of infrastructure around you will go derelict.
      That includes electric grid, road network etc.
      So be ready to wake up in mid XIX century at some point.

    • Xenrelic

      @ Guitar Man: You are correct, sir!

    • MykeTheVet

      You hit the nail on the head, Guitar Man. If anyone thinks Guitar Man is wrong, all you have to observe is what Iceland did in 2008. They just wrote it off because the banks couldn’t find documentation for their MADE UP INTEREST RATES.

      If you think we can’t survive without the Federal Reserve/IMF, I guess you didn’t realize the United States existed before 1913.

      • Diane C

        Well, if that is true like Iceland, we then need to boot out every politician in WA and start over. We need to cut all the crazy policies and departments, and big gov back to what it should be. Keep us safe and stay out of our lives!!

    • Old Man

      U.S.A. enjoys a national debt of more than $15,000,000,000,000. About 2/3 of this is owed to the Federal Reserve, a private enterprise. Most of the rest is owed to foreign governments. Foreign governments must be paid on-time, or there will be a sovereign debt default. It’s not pretty.

      The size of this debt is such that, any more borrowing will necessarily debase the worth of the dollar. And therefore, there is no new money to replenish the lost trillions in real estate equity, no more money to do economic stimulus, and hardly enough to pay interests. Hell, there’s likely no more money to bailout Wall Street banks. Thus economic stagnation as far as the tunnel.

      While foreign holders of Treauries must be paid on-time, what about defaulting on the Fed? Like, what can the Fed do? Isn’t this is exactly what Iceland did?

      Well no. There are 3 big difference compared to the Fed. 1) The Icelandic central bank is owned by the government. 2) The Icelandic central bank has authority only to issue notes, but no authority to set interest rate. 3) It has no mandate to promote economic growth or employment. In short, it even cannot issue notes beyond what’s the banking system seek to borrow. Believe it!

      In such a central bank setup, if the people (i.e. government) decided to default on outstanding debt owed to it, nothing happens. The Icelandic central bank simply zero out credit on its book as noncollectable, and start over.

      (Iceland is now considering going further – it is considering adopting the Canadian currency, and thus would render the central bank as no more than an accounting clerk office. A most fitting punishment.)

      Now can you do the same with the Fed? Like, ask it to zero out $10 trillion it loan to the federal government? Why if such a request is asked, the Fed will simply refuse to creating any more liquidity and set interest rate to 25%. Which will destroy the US economy, not to mention those of many other countries. So you see, the Fed is actually a billion times more powerful than the DoD. Unless, of course, somebody has the guts to send in a 4-star general to the Fed building and just do a Terminator act. Come to think of it, that’s exactly what Hitler did after the Deutch Mark hit a billion percent inflation in the 1930’s. It worked wonderfully.

  • Jeff PK

    “There are two ways to enslave a nation. One is by the sword. The other is by debt.” —John Adams

    • Tel

      Without the sword to remind them, people often find it easier to forget about the debt.

  • Stan522

    Michael says: “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?”

    There are two outcomes to this: Either it is a debt default by all things government, because it is unsustainable, or we get government going crazy on QE, which will lead to hyper-inflation for the common man, but plenty of money for the bankster’s and the gubamint….. some options, huh-? Which do you all want?

    • Dave in TN

      There’s actually a third alternative and it’s the one our country is already implementing: perpetual imperial wars of conquest. Good Christian nation that we are, our overlords have access to a military that just takes what it wants — or else.

      • Dave in TN

        By the way, if you’re a true believer and you want to get a peek at the Beast of Revelation, just look at the American military/industrial/financial system at work around the world.

      • celticone

        It’s true. It keeps those who would otherwise vote for a person who would spearhead a fix for this financial mess because it requires that that activity stop, but they can’t do that because they would be deemed un-patriotic, leaving them to question their loved ones’ roles in the military. That’s a conversation most military families don’t want to have.

      • mike Beale

        We are not and have not been a “Christian” nation for some time now. We are in the post modern era.

      • GaryToo

        thats right dave, why it isnt obvious to everyone amazes me. There is no intention of paying back any debt. possession will be nine tenths of the law and having the biggest miliary always securing the resources is exactly that.

  • Rabo Karabekian

    Is it incompetence or is it intentional? Grand social programs (McHealthcare comrade) in the midst of the worst economy in 80 years. Expensive wars thousands of miles away. Rewarding epic failure with bailouts. Manufacturing shipped overseas where there are no unions demanding 25$ an hour to work on an assembly line and 80% of yearly wage for life after retirement. All the usual 300$ ashtray and 600$ toilet seat waste and graft. Is it incompetence or intentional?

    • mike Beale

      Is it incompetence or intentional?
      Very good question. It seems hard to believe even these lowly congress-critters and other politicians could actually be this inept.

      • uncurable wound

        mike Beale
        (It seems hard to believe even these lowly congress-critters and other politicians could actually be this inept.)
        I agree but is also very hard to believe they are this smart!

  • Matthew

    Our National Debt, the visual:

    In your mind’s eye, lay down a pallet. Stack 100 dollar bills flat and evenly on that pallet until the stack is about 3 and a half feet high. That’s 100 million dollars. Ten thousand of those pallets would be 1 Trillion, so we’re talking about 158,764 of those 100 dollar bill pallets.

    To put THAT into perspective, I work in a warehouse with 900 pallet spaces. 900 of those 100 dollar bill pallets would be 90 Billion. Since pallet spaces are taller than 3 and a half feet, we’ll round up and say 100 Billion could fit into the warehouse I work at. It would then take 158 of those warehouses full of nothing but 100 dollar bill pallets to hold our National Debt.

    That’s how much money Bernanke is going to have to print one day. He can’t print a single ounce of Silver though.

  • mark

    Guitar Man is right. most of this debt is fraud. The public workers pensions are payoffs for support and money at election time from public employee unions. That is fraud. We need to get rid of the Fed and control our own money. A default would be better than the hyper-inflation. I already have my made in the USA tricycle for when the rest of the world stops giving us oil for worthless printed paper. The trike is called the Mover. It sure would be hard as we live about 12 miles out of a tiny town. But it has a big basket in the rear. I suppose I could get a horse again or it might just be better to stay at home.

  • salvadordaly

    WOW! I mean I know alot of this but still, WOW! Buckle up America it’s going to get rough. Just think of all who have not done any preps, and you know them. As a matter of fact you have dropped hints, and still they have done nothing? WOW! Oh well back to the Kardashions they go.

  • Erik

    The debt is increasing by about 4.5 billion a day, or roughly $100 billion every 3 weeks. More accurate numbers show the real annual deficit is closer to $5 trillion every year, not $1.3-1.5. I saw the overseas military operations first hand a couple years back, and I will say that it is staggering how big that grab bag of cash is. In the old days, Kings could only wage war so long as there was gold in the treasury, or risk rebellion with tax hikes. Now they just hit Ctrl+P.

  • Bill

    Michael, have you read #45? (hope you know what I mean) I think it explains the real problem and why politcal parties are a poor excuse for democracy.

  • SeektheEschaton

    Regarding your article about the withering corn crops. They now believe only 48% of the nations crop is considered healthy. They will be making an announcement about these findings tomorrow. Does anyone have any speculation as to what effect this announcement might have?

    • NorthernCanuck

      This drought is affecting farmers north of the border, too, but not as badly.

      Corn is at a cliff-hanger in the Province of Ontario, too, and as for fruit crops: “…Extreme weather took its worst toll on Ontario fruit farmers in April, after unseasonably warm March temperatures brought the trees out of dormancy nearly five weeks earlier than normal. Seventeen flash freezes destroyed the blossoms that would have become fruit, killing more than 90 per cent of the apple crop, and most of the tender fruits, said Art Smith, CEO of the Ontario Fruit and Vegetable Growers’ Association. Only about 60 per cent of the peach crop survived…”
      “Ontario Corn Farmers Wait For The Million-Dollar Rain”
      Toronto Star, Thursday July 12, 2012–ontario-corn-farmers-wait-for-the-million-dollar-rain

      …but things seems to be looking better for our Canadian compatriots out west in the prairie Provinces:
      “Prairie Heat Moderates, Rain To Cool Crops
      Rain forecast Sunday to Tuesday; recent heat damaged some canola
      Jul 12, 2012 9:38 PM by Rod Nickel, Winnipeg | Reuter”

      It’s almost as though someone was AIMING that scorching heat right at the American grain belt while trying to minimize collateral damage on the Canadian side of the border!

      It certainly takes my mind right back to that revealing Canadian Broadcasting Corporation documentary or HAARP and weather control, first broadcast back in 1996 when HAARP was just getting started.

      Take a look at it yourself and see what you think:

      “HAARP CBC Broadcast Weather control part 1 and 2″


      “H.A.A.R.P. CBC documentary” – YouTube

  • GSOB

    We owe, we owe,… it’s off to work we go.

  • John

    When I read stuff like the above; its even more clear the US economy will never again return to its former glory. The number of jobs will continue to shrink or be outsourced.

    • Josh

      i feel like this is a story that should have been ran 10 years ago, to be upset about a story like this now is kinda like being mad that you didnt hook up with that one girl in high school 10 years after the fact.

      its kinda sad that after years of everything being made in china that “its even more clear” to you now at this very moment. it took, and a bunch of shady ass congressmen for you to realize that products are no longer made in the usa and the jobs related are never coming back? do you ever look at the tag on your clothing? im sure 100% is made in another country. that right there should be a wake up call, start picking stuff up in your house and see how much of it is made here, you dont need a congressmen to tell you that manufacturing is gone OPEN YOUR EYES AND LOOK AROUND!!!!!

      if you really want some made in america clothing you can do what i do and go to the thrift stores and seek out clothing that has tags that says made in america, i have a entire collection of clothing that was made pre china, most of the clothes are at a minimum 15 years old and hold up better than anything made recently. and to boot it costs 10% of what a new item from china costs.

  • davidmpark

    Thanks for all the great work Mike.

    No time for a lengthy comment, though, but I appreciate all the news you’ve reported on. Been working for 20 hours a day for the last week trying to finish all the projects.

    I’ll send pics of the homemade utilities and the other things we’ve built.

    • Michael

      I would love to see what you have done. Good for you for working so hard to get prepared. :)


  • Andrew Bulles

    If all of us who actually do care about this issue of the Federal Debt and how it is enslaving our nation would just stop filing tax returns and start resist all payment of INCOME TAX… then maybe it would be enough to BLEED the BEAST into submission! DISSENT AND RESISTANCE IS THE SOLUTION! Voting for the DEMS or REPUBS will only further the cliff hastening.

  • Old Man

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

    And who put them in power demanding never-ending spending? Remember how the politicians used to say ‘Borrow a billion here and a billion there and soon, these can add up to serious money.’ and everybody laughed off that as a nice joke. And kept on doing it.

    In a democracy, the people get what they deserve, and all the blames. And if you don’t buy this, then you are saying democracy in America has not worked. Then I say: what are you going to do about it. For a hint, check out the Arab Spring.

    • joe

      Since when was this country a democracy?

  • ElkThuringer


    Unfortunately our debt situation is so out of control that our massive debt is now a drag on GDP. If, for instance, we did massive cuts to balance the budget in 2013, the negative effects this would have on jobs and GDP would more or less make the cuts inneffective as it would destroy the tax base of this country. Just ask Greece and Spain how their “Austerity” (it’s not true austerity) is working. It’s called the debt spiral, it’s what happens when we build the foundation of our economy and our lives on debt. I wish we could “cut our way out of this mess, or tax our way out of this mess” but it doesn’t work, we have passed the point of no return. As you have said, all that’s left is hyperinflation, and/or default! Welcome to hell…

  • SEPO

    Taxation without representation has gone full circle people…

  • N

    Instead of being a colassal failure, the situation we see is instead a great great success: It was Obama’s responsiblity to ruin the country – that is what his handlers’ – globalists who have taken over the country – WANTED. By every means possible, we have been taken down: very scientifically, very acutely, very brilliantly, and with deadly accuracy. Our social, familial, moral underpinnings are virtually shredded. This has been entirely by design.k No people on earth is hated more by the globalists/nwo than the Americans, who had a whiff of freedom. The mission to destroy the country, to dumb it down into thrall has been successful.

    • Zedge Hero

      Best comment of the month, and maybe year!

  • Paul

    When you talk about American debt you need to talk about the military.

    How much of that debt was used to buy weapons and ammunition?

    Who profited most? Who got all that money?

    • mondobeyondo

      We have gotten ZERO return for our investment in our recent little military adventures, especially Afghanistan.

      What have we gained? Certainly not any land. We haven’t won the hearts and minds of the Afghan people. Relatively few “terrorists” killed or captured. The Taliban are still strong.

      And what have we lost? Thousands of young American men and women. Any international respect the U.S. once had. Afghanistan is just a giant meat grinder, as the Soviets found out 30 years ago. It’s the place where empires go to be defeated and die…

      • John W.

        Shortly after 9/11 Bin laden was quoted as stating that one of his goals in the 9/11 attack was to cause the US to bankrupt itself in what he knew would be the usual US response to everything which is to spend massive amounts of money. He warned us and we still took the bait. Then again we had a president so brain dead that while standing in front of the still smoldering ruins of the WTC that”Islam is a religion of peace”. We never had a chance with leders like that in charge.

      • GaryToo

        the british also failed there about a hundred years ago, when soldiers were much more expendable. What they have got there is an ongoing presence to keep close acess to gas and oil to the north and hem in russia/china.

        The thing even worse than all the killing so far is that now as the us and un withdraw, the taliban is taking some serious revenge on everyone who collaborated with them.

  • David

    Thanks Mike for pointing out that this is not a Democrat or Republican creation. This was created by both corrupt, disfunctional parties. We are on our way to ruin and it will be disastorious. Did anyone really believe that our society was sustainable. The real winners in all of this are those who preach “divide and conquer” tactics to power. They have succeded in dividing this country along ideological lines and now destroy what took so long to create. Prepare or die. It is getting late.

    • NorthernCanuck

      How right you are!

      Read the quotes below by that consummate and influential ‘insider’, Professor Carroll Quigley, who trained many of the US governmental elite (notably President Clinton) at Georgetown University – and these extracts are from his 1996 book “Tragedy And Hope@.

      Is this a consistent bi-party plan for ‘creative destruction’, or what?

      “The argument that the two parties should represent opposed ideals and policies, one, perhaps, of the Right and the other of the Left, is a foolish idea acceptable only to doctrinaire and academic thinkers. Instead, the two parties should be almost identical, so that the American people can ‘throw the rascals out’ at any election without leading to any profound or extensive shifts in policy” (Georgetown University Professor Carroll Quigley, Tragedy and Hope, 1966.)

      “The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.” (Georgetown University Professor Carroll Quigley, Tragedy and Hope, p. 324. 1966.)

      “There does exist, and has existed for a generation, an international Anglophile network which operates, to some extent, in the way the radical Right believes the Communists act. In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other groups, and frequently does so. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960’s, to examine its papers and secret records. I have no aversion to it or to most of its instruments. I have objected, both in the past and recently, to a few of its policies…but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.” (Georgetown University Professor Carroll Quigley, Tragedy & Hope: A History of the World in Our Time, p. 950. 1964.)

      “The Council on Foreign Relations is the American branch of a society which originated in England [and] believes national boundaries should e obliterated and one-world rule established.” (Georgetown University Professor Carroll Quigley, Tragedy and Hope, A History of the World in Our Time, p. 951. 1966.)

  • chiller

    Michael, thanks for pointing out the fact that, no matter who’s controlling what, the results are the same. A political atheist myself, when you only have 2 choices for president, that’s only 1 more than none.
    It’s high time for the nation to enslave the guberment into one of those FEMA camps and make them live the life they’ve so recklessly imposed onto all of us.

  • sos

    japans debt is close to 250% gdp, and still there interest rate is BELOW 2%, even though its been twenty five years since they had their lehmans moment, as well as an economic down turn in the last few months ..what is more important to the u.s is the fiscal cliff at the end of the year, along with the confusion that will result when they have to go back to stimulus again,,but will it be too late to drag the country out of a pessimistic outlook ..that’s when the depression will be entrenched.

  • bill

    i wouldnt lend our goverment one nickle,so who are the dumbest people on earth lending this money to them.
    i wouldnt buy a bond one,stock or anything else from us goverment,thank goodness for the stupid people or we would have to pay this debt off

    • McKinley Morganfield

      The last time I looked, the FED was buying 60% of all T-notes sold on a monthly basis.

    • John W.

      Maybe you just are not smart enough to figure out just what the collateral that was promised to secure the debt was. Perhaps the country itself was put up.


    The Day That Never Comes!!! (Metallica)

  • ScotinOz

    as long as interest rates are near zero, Treasuries are viewed as safe haven, the mighty dollar is still reserve currency and China is able to continue selling US its crap whilst funding the US purchase of said crap by buying debt nothing will change… The Fed are painted into a corner now and know they cannot even consider touching rates or turning off the printing press the whole system wouldnt be able to run without it.

    Take a look at Greece, Spain and the rest of the Med countries this is what happens when the debt party ends and the hangover commences. The US is able to sweep all this under the rug because Europe is in full blown recession so all focus is on them, the good news for the US is that the bureaucrats in Brussels are clueless and so it will continue.

    The best people can do is focus on their own personal balance sheets.. cut up credit cards and pay them down, 20% interest on your average card is the worst offender. Mortgage payments next add to principal payments to cut down interest. trim expenses but always try to put aside a little each month for having a night out or a meal out as constant austerity will drag you down, its not feasible to shut down everything and spend nothing.

    I am down to my last 10k debt and once its paid I wont be getting into it again, the thought of slaving at work just to pay a bankers bonus fund is enough to put me off it for good.. I know people are in a tough spot right now with the job market, I am lucky enough to be qualified enough that I can usually find work without too much trouble.. to all those struggling I hope things improve, dont depend on the govt to turn this around as I think its beyond them.. people need to put a plan together its tough to get rejected constantly but people need to get over it and just keep knocking on doors.

  • Barn cat

    Federal spending hasn’t fueled OUR standard of living. It’s fueled the standard of living for federal workers, people getting food stamps and having illegitimate children.

    We’re not leaving debt for our children and grandchildren because the dollar will be worthless within the next two years.

    We now have monthly deficits that are the size of what our annual deficits were at one time.

  • Mattyboy

    They will not curse us. They will curse God and die. If, the Bible is true then we are heading for the one world system. The people left will be blinded by the power of Satin and go along with the program. The true born again believers will be taken out of the mess. The last prophecy to be fulfilled in the age of grace is the Lord coming to “rapture” his people. So, look up and do not fret, the day of our salvation draws near!

    • jon freibourn

      Get real. We’re talking about economic enslavement here, not religious enslavement.

  • HiddenVixen

    I’ve always said in my early teen years when I first started figuring out what was going on I wasn’t paying. Today, I am only 19 years old and I still feel the same. Myself and my friends have always discussed ways and ideas to better America, even though I doubt people would want to sacrifice their netflix and wifi lives to solve real life problems. It’s not our fault no one was listening. Were not paying shit. Unlike government were not greedy assholes, we help those in need. Therefore we are not liable for others greed. We will move, evade police, hide, go off the grid, unlike most of the out of shape American Sheeple we have survival skills and logic. Some of us young bucks are a lot smarter then you think, we are barely drifting on the fringes and we LIVE in the cracks of this terrible thing people would like to call a nation. When we look out into the world we see a polluted earth that breaks our hearts, not progress.

    • nowwthen

      Best of luck kid! You are a lot like the 19 year olds from every generation since the days when Bob Dylan was singing, “When you ain’t got nothin’, you got nothin’ to lose.” I really miss the days when I felt as you do.

    • GaryToo

      good for you ! and plus one best of luck. Pollution is not progress, so simple so true.


    Another fun fact is that the money we carry in our back pockets is only 3% of the total currency of dollars out there, 97% is computer entry.

  • Rowell


    Thank you, thank you, thank you! I’ve been saying exactly that for a while now. Both parties are to blame. It’s like they want the US to fail. Why? Well, after everything goes down in flames, someone or something has to come along and pull it back together. Maybe the people with all the money in the form of some new world order.

    As long as the majority of people are snoozing zombies without the realization of what’s going on, we’re going to continue down this road. As long as the only options the voters have are either democrats or republicans (both working for the same goals), we’re going to continue down this road.

    Hate to say it, I have no faith in the majority of people to do the right thing. Time to get ready for the worst that’s coming.

  • K

    Michael,the reason I read this blog is your honesty and lack of agenda. With this in mind, might I question number 21. This number appears to includes Social Security, and possibly other government retirement plans. As such the number is not what it appears. A truly honest number would show a separation. That which is paid from general tax revenues, should not be lumped in with, that which is paid out from retirement plans. They were paid into separate, they should not be lumped together now. The number maybe correct, but does it rise to your level of honesty?

    • md

      The point is that any and all money that was paid in to ss or any retirement has long been spent and it is all just coming out of one pot now

      • K

        True, but by not showing the numbers separately. You equate hard working retirees, with welfare people. I have sent some friends, who are retired here. While Michael has not acted as though, they are the same. Others have.

  • bonehead101

    he who has the highest national debt when the world ends wins

  • BFH

    Come election time in 2012 or thereabout the national debt ceiling is reached and the debates start all over again. Look for this to be a real show as the idiots we call leaders screw us and the future of this nation once again!

  • Jóhannes

    A good article but I want to point out that you left out military spending. America spent 711 billion dollars on military in 2011 more than five times more than China (which spend second most). The whole world spent 1630 billion dollars so America spent almost half of what the world spent. And this was not spent on defense, most is spent in occupying foreign countries. The United States government must cut welfare and overseas spending if it whishes to get rid of debt.
    Getting out of debt should be number one priority for the countries of the world because almost every country owes money and almost every country is lending money. One day some country will not pay and the whole thing will collapse. The results will be financial crisis and/or war and/or banks and governments who lend governments will get government assets.
    Greetings from Iceland, Jóhannes.

  • Tel

    The U.S. government has stolen $15,876,457,645,132.66 from future generations of Americans.

    Only if someone can figure out how to make those future generations pay the debt.

  • Syrin

    “There are two ways to enslave a nation. One is by the sword. The other is by debt.” —John Adams

    And liberals are planning on using both.

    -liberalism – destroying nations for centuries

    • David

      Yeah and you conservatives have done such a great job! Reagan, The King of Debt and Bush, “Read my Lips”. Conservatives are ignorant loosers who are blinded by their own ideology

  • mr.kuntz

    Go to and read the dreams. One of them points out the economic turmoil that is coming and outlines how money will be taken away and pensions. These dream have not been inaccurate thus far!!

    • ElkThuringer

      Did you not read the article? Both parties are to blame! Pull you head out of your ass and see the forest for the trees! Reciting faux news or MSNBC “talking points” is a sure sign of a sheeple. Bbbbbbaaaaaaa!!

  • Xenrelic

    So we get rid of the Federal Reserve and The IRS and set a new silver standard under executive order 11110.

  • GA

    Alexander Hamilton was considered the “Father of National Debt”. He believed that the national debt was a blessing because he felt that the more debt a nation had the more it’s citizens would work for success of the nation. I’m not thinking this is what he had in mind!!!

  • Land Lord

    it is not the government’s job to feed people.where in the constitution does it call for
    the federal government to provide food for the lazy by taking from the working tired of seeing people with handicap stickers in their window.they say they cant go to work everyday but yet they can go fishing,hunting,chop wood and anything else they want to do but to those people get a job and stop sucking your existance off the working man!

    • Diane C

      Yeah, and have you notices the many big trucks or SUV’s that they have to “step” out of to get out of their vehicles?

    • linda

      Wow. A perfect example of how the ‘divide and conquer’ strategy is working well…
      So, the unemployed and the disabled are the enemy, huh? Because instead of “working”, they hunt, fish and chop wood…
      Sounds like the poor up by you are trying to take care of themselves, so what’s your beef, “working man”?
      Lemme guess…Romney/Ryan 2012?

  • Donald Wilson

    I say to hell with the central bank and the associated banksters and other charletons.

  • Steven Harrison

    Turn on, tune in, drop out! DO NOT participate in this fraud. The banks owe the banks money; YOU DO NOT! End the FED, End the EZB, Stop paying for money that is not yours! You can not change anything, if you do not change EVERYTHING! Shit or get off the pot.
    Peacefully yours, Steve

  • chris2

    1. Real debt of the USA is 200 TRIILION fiat dollars.
    Prof. Kotlikoff
    Interview ,quote or debunk him.
    Mark 16,17

  • Virginia Marino

    Time for a short sale?

  • chris2

    Should of read 27.
    I ask for forgiveness.
    Thanks for finally SOMEONE publishing it.

  • whitewash

    this whole house of financial fraud has about 52 days left,,,, before it all starts to collapse…..TEOTWAWKI………….SHTF…..
    LADIES & GENTLEMEN BRACE YOURSELF’s. Its going to be a very rough ride…

  • markthetruth

    Media distortion to the max……..

    NEW YORK (MarketWatch) — U.S. stocks rose further after the University of Michigan-Thomson Reuters consumer sentiment index fell to an initial read of 72 in July from 73.2 in June. The confidence number was off some from the prior month, but still “way off the bottoms,” said Stuart Freeman, chief equity strategist, Wells Fargo Advisors in St. Louis. “We’re certainly not looking at boom times, but we still are seeing consumer spending, At some point the consumer needs to make some purchases to get on with his or her life, and we’re seeing signs of that,” he added.

    Get on with their lives???? with no job , home, or money……

    Purchase with what ?????????

    Sounds to defy logic to me !!!! as usual the illusion continues…..

    The end…

  • Reardon Steel

    These types of lists are great, but why do the authors always seem to ignore the elephant in the room, military spending? The military budget far outstrips social spending, but we don’t talk about that. Historically empires fall because of military overreach and the spending associated with that. The American Empire is no different.

    • uncurable wound

      reardon, PROVE IT!

      The 119 trillion in unfunded liabilities has not one FAKE dime of Military spending!!!

      Historically empires fall because of Immorality and a devaluing of the currency wars are just the unwinding.

  • Dement Horizon

    Let me commend you on your excellent website. History repeats until we, as a society, learn our lessons. Take for example the causes for the fall of the Roman empire and compare it to our lot.

    1) In Rome: Decline in Morals, Ethics and values
    Now: Check

    2) Political Corruption and the Praetorian Guard
    Now: Check

    3) Fast expansion of the Empire
    Now: The US was a financial empire if you will and so yes the expansion of that empire was pretty rapid

    4) Constant Wars and Heavy Military Spending
    Now: Check.

    5) Barbarian Knowledge of Roman Military Tactics
    Now: If our definition of the US as a financial empire holds, then check, see the rise of the financial might of BRIC nations. If they have a good understanding of how our financial system works, it follows they can hit us where it hurts financially

    6) Failing Economy
    Now: CHECK

    7) Unemployment of the Working Classes (The Plebs)
    Now: Check. Rapid dwindling of a middle class and concentration of wealth with a few. “trickle down” economics NEVER works

    8) The ‘Mob’ and the cost of the ‘Games’
    Now: Compare to our wasteful spending.”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.” – Really??

    9) Natural Disasters
    Now: Check.

    10) Mercenaries to fight wars
    Now: Check. See the role of Blackwater in the Iraq war

    And just like Rome, this will be a decline punctuated by minor revivals. It is inevitable!!

  • Audit the FED

    Since the issuance of debt money by the private banksters/Fed Reserve was created out of thin air – it can be settled in the same way. Why borrow when our govt can create and issue our own $$$$

    • Audit the FED

      why are google and amazon que – d during the placement of my comment?

  • TooLittleTooLate

    When the public catches on, I wouldn’t want to be a politician or working for the Fed. Reserve.

    Everything you said is so true… the only group really talking about this is the tea party and, to the dems, they’re all a bunch of racists….

    As is always true with the dems, whatever they’re accusing you of…. is also exactly what they’re doing.

    It’s so predictable, pathetic and truly sad.

    The real fate of this country was set when lobbiest were allowed to ply their trade about the turn of the last centry. Once special interests were allowed to use money to influence, corruption has walked hand in hand ever since.

    • linda

      The Tea Party lost all credibility when all those Senators and Congressmen promised to get our fiscal house in order, and immediately set to work trying to outlaw abortion, pass “personhood” amendments, force schools to teach “creationism’ as science, etc…
      A bunch of reactionary windbags who will go down in history as a brief, unpleasant side story. This Tea Party should be thrown in the harbor WITH the tea…

  • erheault

    Sorry but the pin on the economic hand gernade has been pulled the only thing remaining is the explosion which is due at any moment, Best to prepare for a hard time that will last for a very long time.

  • JAH666

    It’s called DEFAULT!! When someone CANNOT pay off a debt, they default on that debt. The staggering levels of debt in the world, from individuals and their credit card debt to TBTF banks and their outright debt and Derivative exposure to the municipal debt of cities, states and nations, CANNOT be repaid. When everyone in the world owes everything to everyone else, where does repayment of such debt begin and where does it end! It all ends in one staggeringly huge financial default and all debt is written off! What happens then? Chaos, anarchy, a gigantic reset? What will replace the failed world financial structures? If a better system doesn’t replace the failed system, I guess it just starts over. Sounds like the definition of madness to me.

  • sre

    Why not just print a bill in the amount we owe. Send it off with an appropriate guard, of course. Do this for all countries to which we owe money. Debt paid.

    • mondobeyondo

      Sure, why not? Let’s try the Zimbabwe route and start printing out $1 trillion bills. Only takes 16 of these new “mega-notes”, and the national debt will be paid off! Woo-hooooo! Sounds great, huh? The bad news is, the minimum wage will still be about $7.75 an hour, but a loaf of bread would be several thousand dollars at the store. This could be problematic for the average consumer!!

    • Jodi

      Sounds good but I’m pretty sure they still rather to steal our money.

  • The Claymobile

    Michael, please,please,please, google the words “what does one trillion dollars look like?” and the first hit will be It has a excellent illustration of what a trillion dollars looks like. We owe 16 of those in the illustration!!!

    • Michael

      I have seen that illustration – it is really good.

      And yes – it is really hard to truly understand how massive one trillion dollars is.


    • Jodi

      Excellent example of what a trillion dollars looks like. I think so many people hear a trillion dollars and it means nothing to them. I said this in another article that Michael wrote and I’ve actually heard somebody say once “So what, we’ve always had debt”. A lot of people don’t think that debt is a problem and they just don’t comprehend.

  • geezer

    You know I don’t think our politicians ever thought once about paying the money back. “What money” It’s the professional politician way.
    Run the bill up until it all falls down and then “we can build a more just economy and government of our own making” Words to that effect were spoken by Lennin during the Russian revolution.
    Sounds a lot like what is happening here huh?

  • Pastor Glenn

    What would our nation be like had we heeded Jefferson and the smarter of the founders?

    One could write an entire series of books on the subject.

    The short answer would probably be something like this:

    The Civil War and the horrors of that probably would not have happened. Slavery would have probably ended by the 1880’s or 1890’s as it would have been far more efficient to use steam powered devices than to support human beings to do the work. (The black population may well have been sent back to Africa wholesale, who knows? An attempt to do that was made – white Christians in the US went as far as BUYING a huge chunk of Africa, known to this day as the nation of Liberia, for this purpose).

    We probably would not have gotten involved in World War I, which means that the British might have lost their empire a bit faster – but that World War II probably could have been averted. Entirely.

    We probably could have avoided the great depression since Federal interference made it far worse than the one which occurred in the early 1920’s, which lasted 18 months.

    Our ‘standard of living’ might be about on par with the early 1950’s, but I daresay people would be happier and better adjusted.

    Our country would have a future.

    I could go on but I’ve depressed everyone enough….

    Pastor Glenn

  • Steve S

    While that may be true, Guitar Man, that doesn’t change the fact the the government is going to try to make you, me, our children, and our grandchildren, as well as everyone else, pay off this debt we don’t owe.

  • wheedle

    The Fed bought 61% of U.S. government debt last year to keep the “system” going. Any bets on it actually being more this year ?
    And how much has the Fed funneled into the IMF & World Bank, to keep U.S. exposure to foreign investments from turning into a nightmare ?

    • uncurable wound

      You see much!

  • jsmith

    You are absolutely correct Michael in that Republicans blame Democrats and vice versa. All my friends hide behind their Demopublican labels, so I expect nothing to change with either Obama or Oromney. I do believe all of our problems have been planned from above, and there’s absolutely nothing we can do to change our collapse. The only recourse the government has is to devalue the dollar. We need to realize that the USA is no longer number one. We are in for a very rude shock!

  • John Jackson

    The only way to survive and thrive during the upcoming financial collapse is to invest like the wealthy do:

    • paul

      Betting is not investment.
      The poor need to save operating costs. All recurring costs on perishable goods and services.

  • Jodi

    Americans Will Work More than 6 Months to Pay Cost of Gov’t in 2012

  • Cathy

    Unfortunately, we will never know how Romney will plan to handle the debt. If he says he’ll slash spending to the bare bones, the progressives will go nuts and call him a rich, greedy baby killer, old lay killer who doesn’t care about the poor and wants them to starve. All I know is Romney is not a Commie and that’s better than what we have now. I’d rather have him at the helm of the sinking ship trying to plug the holes than the guy who is making the holes bigger.

    • celticone

      Romney may or many not be a ‘commie’, but he gives no indication on doing anything different than the current guy or the guys before him: Print, print, print. So that ISN’T better. It just isn’t. Doing the same thing isn’t better just because he has an R behind his name. It’s the same. They support nearly the identical platform when it comes to gov’t spending, NDAA (look it up if you’ve never heard of it), gun control (again, look it up. he supports gun control), etc. So it’s not better. It’s the same.

      • Louise in MO

        There are enormous differences in Romney. He is a success at everything he has done. He is willing to open his entire life to scrutiny, unlike Obama. He does not run around telling the American people that the government will supply everything they will need.

        Romney has more character and integrity in his little finger than Obama has in his entire body. Romney is not a narcicist!

        I say it’s time to give someone elese a chance to save our sinking ship, or at least start baling water.

    • Matt

      Wow a reply from the 1950’s, who knew time travel was possible? Thanks Cathy. Genius.

      • John W.

        What point are you trying to make? Cathy was totally right. Despite his faults Romney is far better than your boyfriend Obama. At least Romney does not hate the country and everything about it. That at least is an improvement on the present occupant of the white house. Personally I do not believe anyone can turn this disaster around, as the country is too far gone. Enjoy your food stamps while you can.

    • LordRhynn

      You’ll eat those words once he throws 3 or 4 trillion into the new AIPAC “King of the Hill” campaign by starting up wars with Russia and China, by way of direct military attacks on Syria and Iran. That dope has already pretty much promised to do it, since the only “tougher stance” one could take on an Iran that NATO keeps making stuff about about than the financial stand already taken is to declare war.

      Americans are going to have to dispense with the intellectually lazy “anyone but THAT guy for another 4 years” voting philosophy. All it has ever gotten Americans is a DIFFERENT GUY who does exactly the same thing as, or continues the unfinished work of THAT GUY.

      Hence the stupidity of people claiming the Dems and Repubs are opposing factions. Bush began the work of destroying the value of citizenship and the sovereign status of the country with the Patriot Act. Obama has completed his work with the NDAA. Meanwhile all the cretins in the public can do is ignore that while posting the same stupid gripes all over the place and pointing fingers at “the other” party.

    • JStevens

      So, voting for the lesser of two evils. How’s that whole voting for evil thing been working out for you?

      • Louise in MO

        Obama is definitely NOT the lesser of two evils!

    • pdh

      Romney has not made any noise at all about reducing spending. In fact, The Republicans’ most drastic plans are akin to tossing the deck chairs from the Titanic in order to make it lighter so it doesn’t sink as fast.

    • Uncle Chuck

      What is a “Commie” and why is it bad?

      • Gerd Reinhard

        Because the Commie is the Trojan Horse for Rothchild and Co.. And that is, what people like you, will never understand.
        Greetings from Germany

      • paul

        in America anybody left of bush is regarded a communist. That’s something like the boogeyman for American adults.

        • Clint

          That’s pretty accurate Paul. Especially living in the red states.

      • Bleh!

        What is a “commie,” and why is it bad? Ay,the very basic level, they are the opposite of the individual. They believe in the community, as policy via the party, over the individual. In other words, the rights of the individual are trumped by the rights of the group. You have no individual rights, no freedom to determine your own destiny, you are redused to a cell in an organism, unimportant and expendible. If you choose to resist, you are re-educated, or eliminated. See the documentary, or the interview of the documentary’s creator on youtube, called “dreams of my real father.” There is a section in the documentary in which Obama’s mentor recalls a meeting of ivy-leage intellectuals talking about government take over, and the re-education and elimination of those who resist the new dictated way of life.

        • ian

          you just explained capitalism in it current state. Good job.

          • DiscouragedOne

            You obviously could benefit from some history lessons.

          • Mal R.

            Uhh, I think you just explained democratic ignorance of capitalism. Capitalism has NO power to make those determinations, only corrupt individuals and the kind of govt idiots like you desire. And contrary to what dopes like you think (what a joke huh – ppl like you dont think), under the kind of govt idiots like you desire, corruption FLOURISHES even more so than it does now.

            I wont say good job because that would require an expenditure of effort on your part and we all know democrats dont do that.

  • William

    If you go to the polls in Nov and vote to reelect the very same CRETINS who created this nightmare, you have NOTHING to gripe about……………

    • richard swank


      • Mal R.


        *sigh* No need to read past that point. Come on rich, surely you know better than that. Bush was a poor president, but he surely started nothing of the sort.

  • Mark

    I am thinking about the possibility of a “BIG RESET”.

    At one point, the economic system all over the world will collapse, and governments all over the world will have no choice other than to declare all current debts and savings null and void, in order to be able to start all over again.

    This will be an overnight event.

    It wouldn’t be the first time government simply started with new money. Many European countries introduced new money after WWII ended. You had to prove you owned “clean” money before you could convert it to new money.

    In the history of France and Italy, it happened a couple of times.

    • Rodster

      If there is like you say a BIG RESET, coming. My fear is there will be govt’s toppled and blood will flow in the streets around the world.

      Could you even begin to imagine a coddled and pampered society that has to rewind back a 100 years or more? It won’t be pretty. And my belief is Oil will play a big roll in the coming collapse.

    • Kelly

      … enter: The New World Order / One World Currency… Voila!

    • TJ Jackson

      I agree 100%! The day of reckoning is coming and it will happen suddenly. Now is the time to hope for the best but prepare for the worst. The “big reset” will soon be followed by the big collapse, then the big civil war…The future belongs to the prepared!

    • Pauly

      Have silver/gold

  • pototbabou

    the mafia has a better financial responsibility program

    • Pauly

      They are The Mafia.

  • SidDavis

    It was debt and deficits that caused the USSR to end. The same future awaits the USA, and I for one would be happy to see the federal government end.

    The States can better be controlled by citizens. The States, if they need to fight a foreign invasion can easily make alliances to defend us, just like the US made alliances with other nations to fight WWI and WWII, and just like the colonies formed an alliance to fight the British. The mistake the States made in 1781 was forming a central government which they could not easily control, so that today freedom has been destroyed.

    When for any organization or individual their debts reach a certain point in relation to income, there is no possible outcome but default. The federal government has passed this point, and is living on borrowed time in addition to borrowed money. They can either default honestly, or default by destroying the value of money and then using this valueless money to “pay” its debts. Both ways are default since the lender is left holding the bag.

    There are many people who are being cheated now by the policy of keeping interest rates low in order to allow the federal government to keep borrowing at low rates. There are many people being cheated now by the inflation of the money supply, reducing its purchasing power. There are many people whose lives will be destroyed when the shell game cannot continue. Social Security and Medicare are very large debts of the federal government and will be part of the default. It isn’t just banks and foreign lenders that will be left holding the bag.

    We are in a slowly developing disaster with the pain and suffering only to increase. When it becomes obvious to enough people that there would be less pain by fighting a revolution or civil war, then that will be course that is followed, and unlike the USSR that closed its doors peacefully in the 1990’s, I think those in power in the USA will fight to continue the system of plunder and control that so many today mislabel as freedom.

    All in all, this is a very dangerous time to live in the USA.


      WAIT TILL THESE CROOKS SEE THE EYES OF THE CONFESSOR JESUS CHRIST THEN THE WILL HAVE NO WHERE TO HIDE!!!If you look at your reflection in the bottom of a well what you see is only on the surface
      If you try to see the meaning hidden underneath the measure of the depth can be deceiving

      The bottom has a rocky reputation

      You can feel it in the distance the deeper down you stare
      From up above it’s hard to see, but you know when you’re there
      On the bottom words are shallow – on the surface talk is cheap
      You can only judge the distance by the company you keep

      In the eyes of the Confessor

      In the eyes of the Confessor there’s no place you can hide
      You can’t hide from the ey
      Don’t you even try

      In the eyes of the Confessor you can’t tell a lie
      You cannot tell a lie
      Strip you down to size
      Naked as the day that you were born
      Naked as the day that you were born

      Take all the trauma, drama, karma, guilt, and doubt, and shame
      “What if’s” and “if only’s”; the shackles and the chains
      Violence and agression; the pettiness and scorn
      The jealousy and hatred; the tempest and discord
      And give it up!!!!GREAT OLD SCHOOL JAM!!If you look at your reflection in the bottom of a well what you see is only on the surface
      If you try to see the meaning hidden underneath the measure of the depth can be deceiving

      The bottom has a rocky reputation

      You can feel it in the distance the deeper down you stare
      From up above it’s hard to see, but you know when you’re there
      On the bottom words are shallow – on the surface talk is cheap
      You can only judge the distance by the company you keep

      In the eyes of the Confessor

      In the eyes of the Confessor there’s no place you can hide
      You can’t hide from the
      Don’t you even try

      In the eyes of the Confessor you can’t tell a lie
      You cannot tell a lie
      Strip you down to size
      Naked as the day that you were born
      Naked as the day that you were born

      Take all the trauma, drama, karma, guilt, and doubt, and shame
      “What if’s” and “if only’s”; the shackles and the chains
      Violence and agression; the pettiness and scorn
      The jealousy and hatred; the tempest and discord
      And give it up!

      • thisnamewilldo

        That IS the TRUTH! HOT DOG!!!

  • GA

    Real nice weekend here. Figure I will work on preps
    all weekend! The only good thing about the can getting kicked down the road is that we get more time to prepare.

  • rancher

    Like I have posted before…saw this coming and we are ready. If it looks like the govt will begin to take wealth away from us to give to others we will tell our survival group here we need to sell and take our chips to another country.

    Of course on private planes late at night…. We will read about what is happening on our bungalow sipping cool drinks. As much as I love the nation I will not let it bankrupt me either….. My great grandparents all left their countries to move here legally and I might be forced to repeat that for many of the same reasons. They left their homelands and so can I….

  • SRemains

    Michael/jsmith, both parties play the blame game and the political theater of the two-headed, one party system carries on. One of your more interesting observations was the expensive ad campaign to bolster the rolls of Food Stamp beneficiaries. Such a campaign fits the Cloward-Piven methodology / recipe on how to destroy free enterprise and install centrally-controlled socialism in its place. Their central theme was to implode the current financial system by overloading it with dependency until it collapses under its own weight, at which time that occurs, the moment will be right to scrap pile the Constitution and marshal in full central control. The small-step incremental evisceration of the Bill of Rights fits those objectives lock-step.

  • celticone

    Ron Paul plans to fix it in 3 years, starting with 1 cutting a trillion before the end of his 1st year, and he plans to take the job for $39,000 (the median household income). Not 30 years or some day. Just get in there and get it done before his 1st term is up. There could only be 1 reason both sides would actually join forces to shut someone out: They lose power. And, seeing as both Romney and Obama are paid for by the same exact top 5 donors, it proves they don’t care which one wins, as long as it isn’t Ron Paul.

    • John W.

      Ron Paul can plan all he wants as he will have no say in anything. He will be retiring soon and tell me one thing he ever did in his many years in congress that made a difference? We are stuck with Obama and Romney as cabndidates. That’s just the way it is.

      • thad

        its additude like that thats let them have this country. wake up and borrow apair of balls from someone

  • aaron

    I hope a revolution doesn’t require one of these two terrible things to happen, but we SURE AS HELL better have one when one does happen.

  • El Pollo de Oro

    “Los Estados Unidos has become a banana republic.”—Gerald Celente

    Neocons refuse to accept the fact that this country is now a banana republic. But the evidence speaks for itself: sky-high federal deficit, a currency in peril, a dying middle class, high unemployment, a filthy rich minority and an increasingly poor majority, bankster corruption left and right, bailouts galore, torture of political prisoners, the Patriot Act, an abusive police state, TSA thugs abusing civilians at airports……all of that sure sounds like a banana republic to me. This is no longer the USA. It is now The Banana Republic of America, a Third World slop bucket under the iron boot of a fascist bankster oligarchy. Alex Jones is absolutely right: we are in deep tyranny.

    “You can sum up what has killed capitalism in four words: too big to fail.” —Gerald Celente

    “The Democrats believe in taking your money and my money and giving it to poor people in cities, and Republicans believe in taking your money and my money and giving it to banks and farmers. They both agree on taking our money. They just disagree on what to use it for, and the last Republican Congress is evidence of that. When Republicans had control of the White House, and the House of Representatives, and the Senate, they went on a spending binge.”—Walter Williams

    “The policies of George W. Bush have been assiduously carried out, for the large part, by Barack Obama. Even figures like Dick Cheney have confirmed this.”—Chris Hedges

    “Americans like to believe that the rest of the world looks up to us, but the truth is that the rest of the world is laughing at us.”—Michael T. Snyder

    “This is a collapse of empire. One thing that is an ingredient of all collapses of empire is an absence of justice. There is no justice.”—Stacy Herbert

    “Institutions like Goldman Sachs are criminal enterprises.”—Chris Hedges

    “The New York Fed is one of the linchpin crime syndicate hubs. Timothy Geithner comes out of that crime syndicate.”—Max Keiser

    “Why are mainline conservatives so into getting gangraped? Why do they love getting conned? They worship the corporate fascists so much. It’s just insane.”—Alex Jones

    “Even a dog knows when he’s being kicked, and the middle class in America has been kicked over and over again.”—Alan Grayson

    “Next train to Auschwitz, all aboard! Kiss those calories goodbye, because we’re in a fascist state.”—Gerald Celente

    Bienvenidos todos a la República Banana de América, tierra de malvad. Les gusta Pinochet? Les gusta Juan Perón? Les gusta Trujillo? Les gusta Bordaberry? Entonces, les gustará nuestra república banana mucho. Los fantasmas del Generalissimo y Il Duce están sonriendo.

    The future will be truly hellish in The Banana Republic of America, slop bucket of the Third World. God help us when this nightmare goes from bad to worse.

  • Waffen1

    There will be an offer made at some point to forget the debt. They will initiate a New World currency that will eliminate the United States and when the people agree to this for debt forgiveness, then The Feds mission will be accomplished.

  • http://Theeconomiccollapse Larry Miceli

    Good article about our debt. but Jefferson died heavily in debt so he is not exactly a good role model.He kinda spent a lot more than he made too.

  • Mattyboy

    I think that we need to learn how to throw poop and throw it out of Washington.

  • Cinderella Man

    National Debt? Who do we owe it to? Cant we just say *********** and not pay it?

    • GaryToo

      that is in fact the plan CM, why everyone can not see it is a mystery to me.

    • paul

      If you bought treasuries, then the government owes the money to you. It gave you a promise to pay you the money back. Then took the money and bought ammo and bombs and blew them up.
      And then borrowed more money and burned that too.
      “Defense” costs a trillion dollars each year.

  • watchermax

    The whole world is currently living a massive lie. Central banks ie: the fed CREATES money out of thin air, lends it to itself, then spreads that cash through a myriad of distribution venues. S.S., medicare, food stamps, housing assistance, unemployment pay, add nauseum. This valueless money is then spent about the country and world. It has no backing, it has no intrinsic worth, it is based on nothing. At what point, one might wonder will this fantasy be seen for what it is? A massive fiscal lie. We often hear about the financial terror caused by “loss of faith” in the currency. How in Gods name can there be any faith in the face of this farce. I can only stand amazed at the outrageous fraud being perpetrated in our names. Soon the proverbial can will slam up against the wall and will be kicked no longer. Our future holds naught but DOOM.

    • S. Wiseman

      Yep, the biggest con job in the history of mankind. Since money is “willed” into existence, backed by nothing, and only 1/10th of the money in banks can be considered “real” money, why is there debt? How can you owe interest on something that doesn’t exist and never existed in the first place? I have $100 to my name but I am going to lend you $1000 at 4% interest. You had better pay me my money! If you and I did that it would be called fraud and we would be hauled off the prison. Bankers who lie in bed with politicians have immunity.

  • mondobeyondo

    28. The debt will continue to rise exponentially. The defense and medical lobbyists and your friendly Washington congress critters will ensure that.

    29. The debt will never be paid off. Never, never, never, never, never. NEVER.

    Our narcissistic baby boomer and Generation X will just live it up for now, and let the grandkids worry about it in a half century. Half of us will be dead by then anyway, so, “not my problem!!” Just another version of kicking the can down the road.

    The millennials of today may have a can of their own though. It’s a can of “whup-ass”, and they will be more than happy to open it and toss it at all us baby boomers and Gen-Xers. We mortgaged their future so that we can enjoy the good life today. When the tweens, teens and college students of today look at what past generations have left them, they will have no mercy.

    • John

      Debt can be repaid by deflating the currency!
      In many countries this has been done already known in history, only thing is never on a global scale. So don’t get focused on the trillions of US dollar debt existing and a no-way-out feel.

      There is a very real and good solution for “getting” out. Trying to explain this as simple (and perhaps as naive?) as possible:

      1) Don’t forget that the current wealth, not only in the US, but also outside the US, is based and build on the exchange rate of the US dollar against other currencies, and the fact that international trade of goods/services between countries until now had the US dollar as exchange standard in between. Countries had to buy US dollars so goods/services from other countries could be imported. As far as one can understand more US dollars are outside the US circulating then in the US, as the US dollar is the standard currency. Hence, the huge pile of existing “oil” US dollars circulating outside the US; the huge pile of US dollars circulating and controlled by corporations/banks outside the US.
      2) There is indeed a great direct debt for the US economy, but if you look closely you can simplify this debt as being a direct US import/export debt related. (Not exactly the balance sheet.)
      3) To balance again the US need to deflate the current existing debt as mentioned at 2) and to change or set the outside US economy circulating US dollar into a new currency. This latter is not in the hands of the US and should be a coordinated effort.

      This will be a huge and painful operation. If this dividing into two currencies or new exchange values is made, as simple as it looks, there are implications:
      a) US has to give up it’s buying power and inflating currency strategy. The US can pint their dollars as long as there are trees, but it is inflating its value.
      b) US as a federation has to find for itself a new value for its new dollar and needs to find a new standard exchange rate between its trading countries.
      c) The huge pile of outside circulating US dollars are to be dissolved on the balance sheets between trading countries not including the US. And also, the huge pile of outside circulating US dollars are to be dissolved into another value. This latter decision is up to the countries holding the US dollar as reserve in their central banks.

      Reason so far nothing has happened: power?

      • Kevin U.

        The crude market has sellers who no longer take dollars for oil. The reality is that ( like British Sterling ) the dollar will not be the default monetary system the world uses. It is going to be replaced with a standard that is safer than the current state of the dollar. We have credit because of the dollars default status. If countries decide to change to a different default monetary system our “coasting” on a reputation of good credit will be over as we will have to provide something to back the dollar with something of value… back to the Gold Standard perhaps. The incredible debt load to GDP and deplorable state of the dollar will make this a viable option for all looking to stay ahead of the inevitable demise of the dollar.

    • DL.

      Oh, just what we need, more generation bashing by a so-called “millennial”! Jim Quinn at Burning Platform will love you, buddy!

      As a baby boomer who has NEVER relied on the government, homeschooled two kids (millennials by the way), never has had any debt we couldn’t pay off, grows our own food, lives in the rural remote see we don’t have to put up with you whiny city folk, and has brought up two millennials who will never go into debt, and oh, BTW, built our own house and paid for our own land, I say stop blaming “baby boomers and generation Xers” and blame yourself if you don’t already have a solution–a baby boomer did not do this to you–a criminal psychopath bankster oligarch and his govt. slaves did!

    • Louise in MO

      The teens,tweens and recent grads are only concerned about their tech toys. When they can no longer get the newest and best, maybe, just maybe they will blame the present generation.

      Of all the people in this country, they are the most ill-informed, the most greedy, and the most narcissistic.

      So, I wouldn’t shed too many tears about their ill fate.

      See if you can locate just one teenager these days who even knows what is going on. I can’t!

  • Binko Barnes

    How in the world did you come up with the idea that the debt is growing by a mere 100 million a day?

    The Feds are currently running a deficit of between 1.5 and 2 Trillion dollars a year.

    That comes to something in the range of 3 to 4 BILLION dollars a day. Or, put another way, the Feds are running a deficit that amounts to about 4 or 5 thousand dollars per year for every American.

    • Zedge Hero

      I was thinking the same as since the article the debt has gone up to another 2 billion one day later.

  • 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… ‘!

    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


    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:

    • 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!

      • 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.

  • 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!

  • 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.

  • 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


  • 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.

      • Nick

        No it is true, see I read my bible only it takes more than just plain less than educated bedtime reading to understand what the Lord has in store for mankind.

    • 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


    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.

    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!

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    • Leon Welch

      The Fed was set up by the rich for the rich. Some will argue, oh but they give most of that interest back, not any more, read up on it. Ron Paul has always been right when it comes to the Fed. I read “Creature at Jekyll Island”. When you keep spending knowing the condition we are in then you have only one thing on your mind and that is to destroy this country financially.

    • rrac llashram nhoj

      so you’re saying that the food stamps is the 666 to where no one would be able to eat without this mark of the beast

  • 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!!

    • Leon Welch

      Sorry but I am not responsible for our National Debt. I paid into Social Security as did my employer. That was my money. It was not the governments money. Now all we have in S/S is a stack of IOU’s.

  • William Edmisson


    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!!

    • Leon Welch

      Can I ask you a question? Have you every been hired by some one on food stamps? Just wondering. I personally have no problem with some one being rich is they earned their money honestly and by hard work. These are the people who give us jobs. It all works like a wood chipper. You put wood in one end and chips come out the other end. Take the stimulus for instance. They piled up the wood but no one shoved it into the chipper. If you are going to have a welfare state then some one has to provide the welfare. We now have the welfare state but we do not have any one funding that welfare state so we run up the debt.

  • 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.

    • Leon Welch

      I grew up poor as a barn yard rat. Never had a change to go to college. I had two choices after graduating high school. One was the military and the other was a cotton mill. I choose the military which gave me 13 months in Vietnam and three months in the Congo. For some time I really got ticked off about how the world had treated me, growing up poor, being sent to Vietnam and so on. But now I realize that I got a good lesson in survival which has and will serve me well. When I returned from Vietnam I got a job. I worked hard, purchased some land, built my own home with my own two hands. I have a creek flowing 100 feet from my home. I have a tractor and I know how to grow my own food and I have land to grow it on. I put my two children through college with no help from the government. Sure I had some bad breaks but I did not sit down and cry about it. Those bad breaks taught me how to survive and survive I will no matter what this government does.

  • 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.

      • Leon Welch

        Killing that 90% is not going to be easy. At least not in this country.

    • Matt James Toyne

      you speak much sense.

    • Leon Welch

      First off do away with the Fed period. Do we have enough Federal land left to pay off the debt?

  • 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.

      • Leon Welch

        No one is going to come and pack up anything that I will agree on. But if we default on this debt it will not be nice by no means. People will loose a lot of their 401K.

  • 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.

    • 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.

  • 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!

    • Leon Welch

      I am not to blame. I worked my rear end off trying to fix this mess. I even got myself elected to the Republican Convention in Tampa as a delegate. I get down there, spend a few thousand dollars of my hard earned money just to watch the Republican Party along with Boehner crook in the rule changes so no grass roots movements could ever get into the Republican Party. I watched as he took the floor vote and said the Ayes have it when in fact they did not even come close to having it. I look up and Boehner is reading from a Teleprompter. Can you say cut and dried from the start. If the Republican Party does not stamp a candidate then you are not going to get them. The new rules will make sure of that.

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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!

  • 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.

  • 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.

  • 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.


    • Leon Welch

      Not so. A lot of our debt is owed to other countries and a lot is owed to bond holders. Sure the Fed holds a lot of it but writing it off is not an option. That is basically a default and would throw everything into a tail spin. Let’s say you are holding a couple hundred thousand in bonds. If they write you off how are you going to react?

  • 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… guys sound like children

    • Leon Welch

      No one knows not even the angles in heaven. So I find it hard to believe all these people who say they have a handle on things and they know when and where it will happen.

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    • Leon Welch

      What crack did you crawl out of. Lord give me a break. All scams come out of Africa.

  • haha america is goin down

    You miss the fact that the unofficial debt ( total amount ) is around 222 trilion dollars. So that means with an interest of 1 % the total interest costs per year are higher then the total income of the united states from taxes.

  • america can be reborn

    Colonial Script

    Contributed by: Dave Hayes


    A study of American Colonial history will reveal that Benjamin Franklin went to England as a representative of the Colonies.

    The English officials asked how it was the Colonies managed to collect enough taxes to build poor houses, and how they were able to hand…le the great burden of caring for the poor. Franklin’s reply was most revealing: “We have no poor houses in the Colonies, and if we had, we would have no one to put in them, as in the Colonies there is not a single unemployed man, no poor and no vagabonds.” Think long and hard about this. In the American colonies before the American Revolution, there was “not a single unemployed man, no poor and no vagabonds”. — no one on Welfare, no one on Social Security, no homeless, no income tax, no alphabet agencies, No IRS, BATF, FBI, DEA, CIA, HEW, OSHA, SBA, and on and on and on to provide for the “general welfare” of our villages, towns, cities and states. How did Benjamin Franklin explain this to the British officials of his day?
    How would he explain it to today’s lawyers, judges, politicians and other government officials? “It is because, in the Colonies, we issue our own paper money. We call it Colonial Script, and we issue only enough to move all goods freely from the producers to the Consumers; and as we create our money, we control the purchasing power of money, and have no interest to pay.”

    -Benjamin Franklin

    This system guarantees HONEST MONEY. It was not controlled by a private corporation with a monopoly on the credit of the nation as it is today.
    There was no inflation or deflation, as long as the MONEY SUPPLY WAS KEPT EQUAL TO THE VALUE OF GOODS AND SERVICES TO BE PRODUCED AND MOVED (distributed).
    As will be shown later in this paper, what we really need has already proven itself historically — not only in Franklin’s early colonial days, but in other historical instances.
    We will see that it was this system which Franklin describes that was taken away from the America colonies through the gradual encroachments of the British Parliament (Legislative branch of Britain’s government) and the enforcement of this legislation in King’s Admiralty/Maritime/Equity courts set up in the colonies by America’s mother country, Britain, without reference to the common law established by Magna Carta that led to the American Revolution.
    Those encroachments are described in the Declaration of Independence.
    Is America today being governed without reference to Magna Carta and the national and state Constitutions founded thereon?
    What was the condition in England, in Franklin’s day?
    All her money was borrowed from private banks at interest, and repressive taxes were laid upon the people.
    Private banks usurped the government’s right to create and regulate money. Banks created money or credit “out of thin air”, by mere bookkeeping entries, with no labor or wealth involved or exchanged.
    The money supply was not kept equal to the value of goods to be moved. Nor was it issued interest or tax free. It was issued at interest by private for profit banks “out of thin air” just like it is being issued here in America today.
    Think about this!
    If you had a “magic” checking account with the ability to write unlimited checks against no funds (backing) “out of thin air”, would you not be able to buy and control the whole world eventually?
    Now suppose you were “by law” the only one, who had this monopoly of creating money “out of thin air”.
    Wouldn’t the whole world have to come to you to borrow “money” to finance production and con- sumption?
    Remember, “the borrower is servant to the lender”.
    Would you not be able to make the whole world serve you through this power to issue “money” against no funds?
    Let’s take this a little further.
    Would you not be able to buy and control all major media?
    Would you not be able to buy control of all private institutions of higher learning, including all business and law schools?
    Would you not be able to buy and control the government, itself, to serve your purposes?
    Think long and hard on this. It is the most important subject modern men and women can contemplate.
    Today, America and the rest of the world suffers from this same debt money system. We have all become “servants/slaves” to the money lenders. The evidence and testimony, once examined, is irrefutable.
    Why should we the people pay tribute to a private credit monopoly, for the benefit of using our own moneycredit?
    The people retain an inalienable right to create their own medium of exchange, through their elected representatives in the Congress of the United States, as mandated by the Constitution.
    When this right was challenged by the British, the Colonists went to war.
    Benjamin Franklin identified this as the real reason for the War of Independence:
    “The refusal of King George to operate an HONEST colonial MONEY SYSTEM which freed the ordinary man from the clutches of the manipulators was probably the prime cause of the Revolution.”
    “The Colonies would gladly have borne the little tax on tea and other matters, had it not been that England took away from the Colonies their money, which created unemployment and dis-satisfaction.” –

    Here we see the cause of poverty, unemployment and financial insecurity.
    There can be no personal liberty without financial freedom.
    Thomas Jefferson and many others knew this. Jefferson prophesized what would happen to America if we ever lost the inalienable right to issue our own money.
    “If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered

  • Prime90

    to the creator of this site, you are an idiot and know nothing about basic economics. not a damned thing.

  • Leon Welch

    There is absolutely no way to fix this mess. We will have to default on this debt sooner or later and I would venture to say sooner. No politician could be so stupid that they can not see this coming. They know it is coming. It is like a run away train plunging down a mountain side, you know how it is going to end and you know it is not going to be good. Then Democrats can point their fingers at the Republicans and the Republicans can point their fingers at the Democrats but what good will it do then. Most of us will end up boiling our dogs on our kitchen stoves just to have enough to eat. A blind man could see the out come to this.

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    Hi all, this is a test line


    ok, first off you can’t just print money to relieve the debt burden. Every time a dollar is printed, it loses it’s value bit by bit. When you flood the system with dollars that are not worth the value printed on them you have inflation and the loaf of bread that you could buy at walmart for a $1 a week ago is now $1.75 just an example. If the government keeps printing money by the pound full you eventually will have hyperinflation and you would need a wheelbarrel full of money to buy that loaf of bread, just like the cartoon from the depression.


    I have an idea. I think the government should give all $319 million americans (rounding up) $1 million each that would be $319 million dollars. ONE TIME EVENT NEVER TO HAPPEN AGAIN. The government spent about $800 billion dollars in 2008 to bail out the economy, and we are still down. Give each american the money tax free. Now, with that done, every american now has the means to change their life and come out of poverty. Since every one has a million dollars, there will be no need for government welfare, food stamps, obamacare, medicare, medicade, discount drug benefit, housing assistance, homelessness assistance, foster homes, the veterans administration and social security, no need to subsidize charities or food banks and the list can go on. Concerning social security, everyone that has paid into the system will be paid back the exact $ amount that they paid in to never to have to pay into it again, because all the programs listed above will be abolished.


    Since everyone will have a million dollars they will be responsible for their own course in life. The government won’t be there to hold anyone’s hand again. The government will then since they don’t have to pay all these entitlements anymore can focus on paying back the countries we have borrowed from, paying down the debt we owe and getting this country strong again. Now, yes the government gave you a million dollars, but you will still need to work, you just can’t say oh I’m retired now. You have the ability to be your best without the stress of where you next meal is coming from or how can I pay for medical or electric. You have the million, save it, invest it wisely. Cause since everyone has a million dollars now, minimum wage can be $8.00 an hour business’ can hire more workers, which will bring in more tax revenue for the govenment and the states to be able to pay down the debt that was created in the tax payers name.


    and since business’ won’t have to spend money on employees healthcare (you have a million dollars; buy your own healthcare) that will be another way to help business’ expand and help hire more people. Rewrite the entire TAX CODE, throw it out and make it sensible and write in a code that all business that comes back to the US will have a tax liability of only 5% for life. Think about it, all the companies that left the US, if they were to come back, oh boy! what a great day, and if they were to come back and hire more and more workers that will be more tax revenue for the states and the government.


    I know there are a lot more details I could add, but this is a start and we have to start somewhere. I thought about putting this to paper and sending it to members of congress, the president and some of the 2016 presidential candidates (how few they are). But they need to run on a new platform, both parties, the same ole, same ole isn’t going to cut it. The survival of america depends on it and the tea party, or religious groups or banging pots and pans in the streets just are old tactics that are worn out. Tell me what you think and thank you for your time.

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  • ktrav

    This is so much right wing bullshit. REPUBLICANS DID THIS TO US!!!!

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