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National Debt

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It really is hard to find the words to describe the true horror of the national debt.  The U.S. government has been on the greatest debt binge in all of human history, and a day of reckoning is coming that is going to be so painful that it is going to shock America to the core.  We have lived so far above our means for so long that none of us really has any concept of what “normal” is like anymore.  The United States has enjoyed the greatest party in the history of the world, but now this decades-old party is ending and the bills are coming due.  It was Dick Cheney who famously said that “deficits don’t matter”.  Well, try telling that to the nation of Greece right about now.  The horror that Greece is just beginning to experience is a preview of what is going to happen to us as well.  Only when it happens to us it is going to be so much worse, because when we go down we are going to bring the entire global financial system down with us.

What we have done to future generations is beyond sickening.  Previous generations entrusted to us the greatest economic machine in the history of the world and we destroyed it.  Now we are leaving to our children and our grandchildren an economic future that has been totally wiped out and a national debt of more than 14 trillion dollars that we expect them to repay.

In Washington D.C. these days, there is a lot of talk about the debt ceiling.  But whatever the politicians do, it is not going to solve our debt problems.  If the debt ceiling does not get raised, we move the financial pain into the present.  World financial markets would crash and that would be followed by a devastating economic nightmare.

If we do raise the debt ceiling, that will “kick the can down the road” a little bit farther.  However, world financial markets will still crash eventually and our eventual economic nightmare will be even worse.

Well, can’t we just “inflate our way” out of debt?

No, unfortunately things are just not that easy.  If we try to inflate our way out of debt, interest rates will likely rise just as quickly as inflation does, and that would be absolutely catastrophic.

Before interest rates even reached 20% we would hit a point where it would take every single dollar taken in by the federal government just to pay the interest on the national debt.

Meanwhile, rapidly rising inflation would devastate the value of all of your bank accounts and every other single financial asset that you own.

So no, inflating our way out of debt is not going to work.

At the moment, the U.S. federal government is able to borrow gigantic quantities of money at super low interest rates.

When that changes, all hell is going to be unleashed.

The following are 41 statistics about the national debt that are almost too crazy to believe….

1 – As of June 20th, the U.S. national debt was $14,344,524,186,068.19.

2 – 30 years ago, the U.S. national debt was approximately 14 times smaller.

3 – It took from the presidency of George Washington to the presidency of Ronald Reagan for the U.S. government to accumulate one trillion dollars of debt.

4 – Since then, we have added more than 13 trillion dollars of additional debt.

5 – The United States government is responsible for more than a third of all the government debt in the entire world.

6 – If you divide up the national debt equally among all U.S. households, each one owes over $125,000.

7 – Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year.  That was not supposed to happen until 50 years from now.

8 – 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.

9 – The federal government has borrowed 29,660 more dollars per household since Barack Obama signed the economic stimulus law.

10 – During Barack Obama’s first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.

11 – The U.S. national debt is currently rising by well over 4 billion dollars every single day.

12 – The U.S. government is borrowing over 2 million more dollars every single minute.

13 – The U.S. government borrows an average of about 168 million dollars every single hour.

14 – The combined debt of the major GSEs (Fannie Mae, Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011.  Thanks to George W. Bush, Barack Obama and the U.S. Congress, U.S. taxpayers are guaranteeing that debt.  This is debt that is not even included in the $14.3 trillion national debt figure.

15 – Some experts estimate that the unfunded liabilities of the U.S. government for programs such as Social Security and Medicare are in the neighborhood of 60 trillion dollars.  Other experts claim that the total for federal government unfunded liabilities could be well over $100 trillion.  But what almost everyone agrees on is that it is going to be virtually impossible to even come close to meeting all of those obligations.

16 – The U.S. government currently has to borrow approximately 41 cents of every single dollar that it spends.

17 – The total compensation that the federal government workforce earned last year came to a grand total of approximately 447 billion dollars.

18 – The level of government waste in this country is absolutely mind blowing. For example, the Department of Health and Human Services has just announced a brand new $500 million program that will, among other things, seek to solve the problem of 5-year-old children that “can’t sit still” in a kindergarten classroom.

19 – In the past, the U.S. government has spent $2.6 million dollars to study the drinking habits of Chinese prostitutes and $400,000 dollars to pay researchers to cruise bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk.

20 – The cost for the first week of airstrikes on Libya was 600 million dollars.  Keep in mind that the leader of the opposition in Libya has admitted that his forces contain large numbers of the same “al-Qaeda fighters” that were shooting at American troops in Iraq.  So we are going broke and we are helping al-Qaeda take power in Libya at the same time.

21 – Just one day of the war in Afghanistan costs more money than it took to build the entire Pentagon.

22 – In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for 18.4% of all income.

2359 percent of all Americans now receive money from the federal government in one form or another.

24 – Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.

25 – Back in 1950, each retiree’s Social Security benefit was paid for by approximately 16 workers.  Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers.  By 2025 it is projected that there will be approximately two workers for each retiree.

26 – U.S. households are now actually receiving more money from the U.S. government than they are paying to the government in taxes.

27 – Back in the 1950s, corporate taxes accounted for about 30 percent of all federal revenue.  In 2009, corporate taxes accounted for just 6.6 percent.

28 – The U.S. national debt has increased in size for 54 years in a row.

29 – If the U.S. government was forced to use GAAP accounting principles (like all publicly-traded corporations must), the U.S. government budget deficit would be somewhere in the neighborhood of $4 trillion to $5 trillion each and every year.

30According to a shocking U.S. government report, interest on the national debt and mandatory spending on entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019.

31 – 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.

32 – The U.S. government spent over 413 billion dollars on interest on the national debt during fiscal 2010.

33 – Approximately one out of every four dollars that the U.S. government borrows goes to pay the interest on the national debt.

34 – It is now being projected that by the year 2021, interest payments on the national debt will amount to $1.1 trillion dollars a year.

35 – If interest rates move up even slightly, the interest on the national debt is going to be a whole lot worse.  A recent article in the Huffington Post laid this out really well….

According to a recent note from the sage of Dallas based Hayman Capital, highly respected Kyle Bass, a move back to 5% (2006 levels) in short term interest rates will increase annual U.S. interest expense by almost $700 billion annually. This is against current U.S. government tax revenues of $2.228 trillion (CBO FY 2011 forecast).

36 – If the U.S. national debt (more than 14 trillion dollars) was reduced to a stack of 5 dollar bills, it would reach three quarters of the way to the moon.

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

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

39 – If you were alive when Jesus 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.  But this year alone the U.S. government is going to add more than a trillion dollars to the national debt.

40 – If you went out today and started spending one dollar every single second, it would take you over 31,000 years to spend one trillion dollars.

41 – 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 440,000 years to pay off the national debt.

You might be depressed after reading all of those statistics about the national debt, but there is some good news.

If you would like to help address this problem, the federal government is actually taking online donations that will go towards paying off the national debt.

Try not to laugh.

The national debt is a problem that should have been handled 20 or 30 years ago.

But it wasn’t.

So now what we have to look forward to is a very bleak future.  Even if we totally scrapped our current monetary system and repudiated the debt, the transition would be “rocky” at best and we would not enjoy anything close to the standard of living that we are enjoying today.

Unfortunately, the vast majority of our politicians in Washington D.C. would never even dream of abandoning the current system. Most of them still totally believe in it.

But this current system is headed for an inevitable collapse.  There is no way of getting around it.

Even most of our top politicians are now admitting that our current state of affairs is “unsustainable”.  They just don’t have the guts to do anything about it.

A horrific economic collapse is coming.

It is going to change the world.

You better get ready.

  • muddsbks1

    Item 17, that’s not just bureaucrats, that includes the military which we all love and support.
    Item 18, the inaability of children to sit still is a discipline problem that will be fixed with an expansion of the Bush prescription drug program to provide Ritalin, or something similar.

    • javajaw

      Item # 483 – Why the economy is doomed, all life is doomed, the planet is doomed and we are all going to hell.

      Nearly dropped my ice cream on that one. Get a life.

  • Gary2

    Michael-pls check this out before writing more about the debt. Very good info:,+We%27re+Getting+Peed+On:+the+Scam+of+the+Deficit+Crisis

    I believe this whole debt hysteria is mostly political. No One from any side of the isle I know EVER talks about the debt. I only hear it harped about on these type of sites and talk radio.

    We’re being scammed and robbed—again. We’re being frightened, bullied and brainwashed into thinking that our entire future is at stake because of the “government’s deficit crisis” and the “government’s debt crisis”. We are all being told: America, it’s time to tighten the belt.

    It isn’t true.

    There is no crisis. It’s manufactured.

    In this book, Jonathan Tasini explodes the myth of the government’s deficit and debt “crisis”. He digs into the false statements about the “crisis”, who is behind the myth of the “crisis” and he shows that we have plenty of money.

    Using his trademark easy-to-understand writing style, Tasini leads the reader through a clear, penetrating look at our economic crisis. He shows that there is a crisis–but it has nothing to do with the government’s “debt” or “deficit”.

    • Gary2

      Hi Michael-I was hoping you would check this out and comment.

      • Michael


        I honestly don’t see how anyone can deny that we are 14.3 trillion dollars in debt or that our unfunded liabilities are well in excess of 50 billion dollars.

        Do you see a solution to that problem?


        • Gary2

          yes-tax the rich hard and spread the wealth so the economy grows our way out of this mess. When people have money they spend and right now there is a lack of demand.

          Many more stories on the wealth and income inequality are even on the MSM. I predict the rich will be taxed hard by Obama and he has my full support to soak the hell out of them.

          Did you go and read the link in my above post? I think the author is right on.

          • Problem with taxing the rich hard is you’ll probably find they’ll go live somewhere else where the tax rates are lower – like China !

  • 007

    I love it. The treasury is taking donations. The rich money grubbing democrats want to raise everyones taxes. Obama says he should not get a tax break and he is not paying his fair share. However, you never see him or his buddies making any contributions of their fair share to the treasury. Truth be told they could just tell their accountants not to dig for loopholes. Or in Geitners case flat out lie and under report his taxes.

    What a bunch of sick pathetic politicians, they can not stand to pay the high taxes they promote. Yet, they are all to eager to saddle everyone else with an unsustainable tax burden. No wonder the economy is dying.

    Just another example of failed leadership. They believe taxes are only for the little people to pay.

    Cut spending, cut regulation, cut taxes let the economy heal. It really is that simple.

  • Thank you for your valued articles. OT

  • Ograv

    Ritalin gives discipline? I hadn’t heard that before.

  • I watched this documentary last night about our money system. Would be interested in other opinions about what is states. Quite eye-opening.

  • DMyers

    “Have people gone mad in this country? You don’t have that money!” Words of Alan Keyes in his famous Obama birth certificate video interview when he also commented on huge bailout payments. Keyes certainly asked the correct question. Have we gone mad, spending money like this and expecting no serious repercussions? Hardly anyone even mentions it anymore.

    That wasn’t always the case. The great traitor of U.S. presidents, Ronald Reagan, made his political career to some extent on the issue of the deficit and then ran the biggest budget deficit in history up to his time. William Buckley and other conservative spokesmen returned to the subject frequently, and there was often talk of a “Balanced Budget Amendment” to the Constitution.

    Back when this was an issue for mainstream discussion, it appeared to many of us that the hugely growing or growing hugely deficits were quickly leading to collapse or hyperinflation. Of course, during the Carter administration, we saw hyperinflation. But we made it through that by off-shoring jobs and importing cheap goods.

    The unsustainable debt just keeps going on the road to disaster. That’s why it keeps going, the disaster hasn’t happened yet, so it seems like, “well, hey, whatayaknow, I guess we can get away with it after all.” All that will stop it now is hitting the wall, and that we will do.

  • Patriot Alice

    No one is going to do anything about it anyway, so what is the use in complaining…I’ve read the crap for years, and nothing has changed and it won’t…Most of us will be dead when the collapse comes….There will be many QE’s before the end comes, devaluations, printing, borrowing….

    • Mike

      I will be 28 in September of this year. If I live to age 50, I will have seen the collapse.

  • Looking for a better destination? Hong Kong doesn’t have a national debt, and the debt of the government of Chile is 8% of GDP, a small fraction of the United States, Europe, and Argentina.

    The debt is a huge penalty that will burden you and other income earners for at least the next 40 years. Alternatively, imagine living with a responsible government like Hong Kong, in a Mediterranean climate like California. Unfortunately, no such Utopia exists; but Chile offers a combination of pleasant climate and fewer government burdens than many others. If you’re ready to shed the debt your government has imposed upon you, it is a good destination to consider:

  • Maria

    We are all now well aware of the National Debt Clock which continuously monitors our ever-increasing individual liability for our government and personal debt.

    Where is the debt clock showing us what the banks have obligated us to through credit default swaps and derivatives? They are still buying and selling this garbage! We are expected to bail them out since they are too big to fail…so how much is it?

    Nobody knows! It is a complete fraud! And a complete SECRET!




  • Mr Carpenter

    Item 27 is noteworthy, because increased taxation destroys the incentive companies have to earn money in states and countries.

    Right now the United States has the HIGHEST federal taxation of companies in the world – 39% (assuming of course, the company in question doesn’t fiddle the figures to hide income overseas and pays no taxes at all).

    The point is that in the 1950’s, there were lower taxes on companies but virtually all companies which had anything to do with daily life for Americans, WERE American companies. With very very few exceptions.

    Nowadays, the opposite is true. Little wonder (since our borders are wide open in every single way) that corporate taxes are lower than in the 1950’s.

    Most of the middle class jobs have been exported and the illegal aliens are busy doing the sub-minimum wage jobs… illegally.

    Welcome to the Banana Republik of Goldman Sachs, folks. Fascist police state extraordinare! And entirely bankrupt in every way; financially, socially, morally, ethically and spiritually.

  • Mr Carpenter

    I should have said that federal tax income is lower than in the 1950’s on a percentage basis compared to all taxes.

  • FBB

    Thank you for this eye opening article. I would print it off and pass it around to my extended family, but what would be the point? You can’t read when your eyes are closed and you are fast asleep! God help us all.

    • Michael


      Let’s not lose faith. All of us were asleep until someone reached out to us in some way.

      And I want to thank everyone that does pass around these articles in different ways. The more people that put their eyes on them the bigger of an impact they will have.

      Also I want to apologize for the recent downtime on the websites. Hopefully the technical issues have been resolved and all of the upgrades will greatly help.


    • Morpheus

      I agree, with the current mindset, it will be impossible to turn things around. But that’s not a reason to give up and lay down. It’s inevitable this country will collapse and bring the rest of the world down with it. Maybe that’s what we need in order to pull us off that mythical high horse we call American exceptionalism. It’s not the end of us and it’s not the end of the world. We’ll be back stronger and better than before. I have no doubt of it, and neither should you. But we will have to stand up. We will have to change. Sitting around complaining online gets us nowhere.

      Snap out of it people. This is not the end, this is just the beginning.

      Read “Common Sense 3.1” at ( )

      We don’t have to be slaves to our government, the banks or big business if we chose not to. We have choice, now make it!

    • Skittles

      I get called an alarmist and told “you should calm down” when I’m just passing on the info calmly. How can you close your eyes to it once they’ve been opened?

  • KB

    All of the above has been nothing more than a concerted effort to creat the One World Order…how else could you have brought down the United States?
    Anyway, as an aside, Chinese prostitutes drink Chinese beer and gay men engage in risky sexual behavior when they’re drunk for the same reason heterosexuals do … because it lowers their inhibitions…DUH!! And get those 5-year-olds a more interesting teacher and no sugary snacks at nap time…problem solved. Can the Feds send me the $503,000,000 now?

  • DownWithLibs

    Off topic: I heard today that the unemployment rate is really 16% – this includes those who’s u.e. ran out and those underemployed! That is a really scary number.

  • Fonestar

    I do not support our troops. I support people who have the brains and the balls to think for themselves.

  • Tim

    I recently read a book entitled “Crisis by Design: The Untold Story of the Global Financial Coup and What You Can Do About It”. In trying to convey how much money one trillion dollars is, the author states that it would take a jet plane, flying at the speed of sound and reeling out a roll of $1 dollar bills behind it, 14 years to reel out $1 trillion dollars! I didn’t believe it at first, so I decided to do the math myself. I used the equation distance = rate * time. I had to use an Excel spreadsheet because I don’t have a calculator that can accomodate numbers that big. I rearranged the equation as follows: time = distance/rate. And sure enough, I came up with a little over 14 years. But that’s just for $1 trillion. With the national debt at more than $14 trillion, 14 times 14 is 196. And that doesn’t include our future, unfunded liabilities for entitlements.

  • perceta

    when the system fail, it will be our big chance for us to make a real change in the way we live. we could get reunited, procleme war on war, and start acting as one big family, providing everyone their needs. The real questions is not about “what will happen”, but “what can we do to make this the start of a real civilization”

    forgive my bad english, please.

  • stan

    We are in bad shape, but at least we have the annointed one, Barack Hussein Obama as our Leader.

  • mark

    The question we have to ask ourselves is do we kick the can down the road and continue the party and in the end not pay it and default, or do we have honor and balance the budget then begin to down the debt pay. I choose to pay the debt. We spent it and now we must suffer the pain. The only way I see to do this is balance the budget, which would be about 2.3 trillion a year. This would take real cuts in shrinking the government. Every department must take deep cuts and we should close down some parts of the government. I understand this would expand our current depression, but we must take this pain in order to start to repair our economy. Next we need to look at our 15 trillion debt as a 30 year mortgage. The payment on the principal would be 500 billion a year. As hard as the cuts to balance the budget would be, we must cut spending by 500 billion more to pay the principal of the debt. This will take 30 years if the economy stays as it is now. Maybe with sound budgets the economy might grow and we can pay it off faster. We do not borrow any more and we will pay the bond holders 1% interest. We pay the oldest bonds first and so on. We will have riots by the unions and others. This is a far sight better than a total collaspe and complete chaos. Since the pols will not do the right thing you had better prepare for the hard times that are comming our way. Stock up on food as there might be shortages when the dollar is worth a lot less.

  • H8TheFed

    With reference to number 37 above. I believe you accidently dropped a decimal place. I measured a 10 dollar bill. It is 6.18 inches long. Multiply by one trillion, then divide by 63,360 (inches in a mile). You will get 97,537,879 miles (This is greater than the distance from the earth to the sun). Divide by 24,901.55 miles (earths circumference at the equator) and you get about 3917 times around the earth.

  • 1984

    To pin all this on Obama makes me sick. Try looking @ Clinton/Bush policies and where your so called tax money went for thirty+ years. They got it all and f*ck the “little people”. We have been played, big time. There is no recovery. There is no future. There is NOTHING LEFT. Don’t you get it? Game over. Stop acting like “somethings got to change”. Or “a new President will make things better”. How? Reverse all this? As this site has warned, we are heading off a cliff. There is no way out. Not even a WW3 would help, we are broke. And our kids will pay with their lives. Still gonna wave that military flag on the 4th?

    • Michael

      Who pinned all of this on Obama?

  • Tatiana Covington

    We are **************.

  • Kw

    every society that has overspent and debased its currency has failed. Interest rates rise and eventually noone will loan them money. It’s common sense. You are saying there is a permanent free lunch. History shows you are wrong, Greece is the latest. Wake up to reality.

  • BigM

    We are TOAST!

  • Michael

    Michael, I enjoy your 2 blogs. One thing that baffled me –

    “7 – Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year. That was not supposed to happen until 50 years from now.”

    I thought we were runnig a budget deficit for the last 30 years.

    • Michael


      Yes, what you say is true.

      “Mandatory federal spending” (on things like Social Security) is different from “Total federal spending”.


  • Bhupi

    You keep saying we, we, we. WE didn’t cause this. THEY, the people running the financial system, the GOV and the corporations caused this.

    • Gary2

      thank you. I did not share in any gain and I sue as hell don’t think I should be sharing in any pain even thought I am big time. I see a French Style revolution coming.

  • McKinley Morganfield

    There is nothing to be gained by pointing fingers. There is a narrow window (3 months – 5 years?) to prepare for the inevitable collapse. Know this, every week that goes by that you do not continue to your preparations the cost of preparing rises. Water, food, fuel (many forms), ammo, and close ties with family, friends, and neighbors are what will count in the days ahead.

  • Ben Dover

    Tackling the federal debt is simple–default and start living within our means. We will all have to work for our daily bread and that will suck for many of us, but it will happen anyway.

    I will try to move to the part of the FUSA that refuses to pay any debt obligation from the present time.

    Hoping for a change in behavior from our present “leaders” is a fool’s errand.

  • “As of June 20th, the U.S. national debt was $14.3 trillion”

    The 2010 net worth of Forbes 400 wealthiest Americans was $1.4 trillion.

    The 2010 total U.S. net worth was $54.9 trillion, according to the Federal Reserve.

    What did the U.S. government do with $14.3 trillion?

    • Gary2

      gave it to the rich and the banks- I saw some article where it was recently discovered the FED gave almost interest free money to rich people. WTF?

  • 17:4 And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication:
    17:6 And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration.
    17:9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sat. [King James Version; the New International Version Bible uses “hills” instead of “mountains”].
    17:10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he comes, he must continue a short space.
    17:11 And the beast that was, and is not, even he is the eighth, and is of the seven, and goes into perdition.
    17:12 And the ten horns which thou saw are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
    17:15 And he said unto me, The waters which thou sawest, where the whore sat, are peoples, and multitudes, and nations, and tongues.
    17:18 And the woman which thou sawest is that great city, which reigns over the kings of the earth.

  • And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory. 2And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird. 3For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.
    4And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues. 5For her sins have reached unto heaven, and God hath remembered her iniquities. 6Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double. 7How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow. 8Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.

    9And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning, 10Standing afar off for the fear of her torment, saying, Alas, alas, that great city Babylon, that mighty city! for in one hour is thy judgment come.

    11And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more: 12The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble, 13And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men. 14And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all. 15The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing, 16And saying, Alas, alas, that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls! 17For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off, 18And cried when they saw the smoke of her burning, saying, What city is like unto this great city! 19And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate. 20Rejoice over her, thou heaven, and ye holy apostles and prophets; for God hath avenged you on her.

    • Dark Daze

      I’ve never seen those words in any Bible I have ever read. I think perhaps you’ve juiced it up.

      • Richard

        Oh those words are there in the book Revelation and they apply to our times. Read em and weep. The book of Daniel is a good read too.

  • mondobeyondo

    It’s not Obama’s fault entirely. It’s everyone’s fault. We are all to blame, because we have done nothing to stop the massive debt binge. None of us. Not presidents, congressmen and congresswomen, businesses, individuals!! (have you checked your credit card statements lately?)

    Perhaps you’ve been fiscally prudent and responsible. Not so for your neighbors. Those of them who haven’t maxed out their American Express buying ramen noodle soup, sardines, and surf and turf (steak and seafood) at Wal-Mart, have maxed out their Visa buying a 52 inch big screen TV, hi-fi Dolby stereo, Playstation, etc. Then they’ll tell their neighbors and friends… and do the Dr. Seuss bragging bit… “Look at me! Look at me! Look at me NOW!” Gotta keep up with the Joneses, and the Smiths, Johnsons, Mohammeds, etc.

    We are all responsible, and we will all pay for it eventually.

  • mondobeyondo

    So where are all these trillions of dollars of debt going to?

    A lot of it is just to pay the INTEREST on the debt. Not the debt itself, just the interest! Right now, interest rates are hovering around zero percent. Oh goody, let’s have the Fed hike up interest rates to, say, 5 percent. Or something closer to 20 percent like Volcker did in the 1980’s. Yikes! Interest rates cannot stay this low forever. They will go up eventually, and with that, so will the interest payment on the debt. To say we are doomed would be an understatement.

    Do they allow you to cook marshmallows in those fire pits in hell? If so… let the party begin…

  • Ian Lucas

    The old trope is that if you owe the bank a smallish amount, then you have a problem. If you owe the bank a largish amount, the bank has a problem.

    When it comes to US debt, sounds like the bank has a helluva problem. Especially when you add the truism that debts that can’t be paid, won’t be paid.

    Check your assumption that rising govt debt leads to rising interest rates. Accepting your proposition 28, how come the US has near-zero interest rates? Same goes for Japan.

    Private debt in the US around $41.5 trillion. Now that is a problem.

  • prepare

    Michael, Do you have two blogs?? Enjoy reading this one everyday. Got my husband hooked on it now. Please keep it up. I am preparing!!! Friends keep asking me when all this will start happening, any thoughts??

    • Michael


      Yes I do – you can check out the other site here….

      And I am thankful that you and your husband visit this site regularly. When I first started this site I figured that I would probably scare everyone off eventually, but more people keep showing up. 🙂

      When will all of this start happening?

      Well, the truth is that we are already in a long-term economic decline. I do believe another “wave” that will be similar to 2008 is coming soon, but it is so hard to predict the exact timing.


  • liberranter

    Off topic: I heard today that the unemployment rate is really 16% – this includes those who’s u.e. ran out and those underemployed! That is a really scary number.

    Given the fact that the feds don’t count obvious classes of long-term unemployed and otherwise “fudge” the unemployment statistics, you can very safely add anywhere from five to ten percentage points to that “16%” figure. Something in the range of an average of 25% probably more accurately reflects the unemployment rate. And that doesn’t even count the UNDERemployment rate, which probably at least that large.

    • Gary2

      trust me, underemployment is a HUGE issue.

  • Robert Lee

    Read this book, “AMERICA IN DEPRESSION, THE COMING ECONOMIC COLLAPSE, by Dr. James R. von Feldt and Ronald S. von Feldt. (If you can find a copy.) Even though this book was written in 1993 it is more relevant today than ever. We are in deep do-do folks and anyone who does not believe that is waiting for Tinkerbell to sprinkle pixie dust to solve this massive problem. The nitwittery of the Executive, Legislative, and Judicial arms of our government is beyond imagination. Remember Spain, Netherlands, and Britain? There governments did EXACTLY what the US government is doing now. When it comes to corruption the Democrats and Republicans find it amazingly easy to work together. “If recession should threaten serious consequences for business (as is not indicated at present)there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement. Harvard Economic Society, October 19, 1929. “Forget the “new economics” and prosperity founded upon spending and gambling, and return to the old economics and prosperity based upon savings and working. T.W Lamont 1930. “If by the third hand of a poker game, you don’t know who the patsy is, you”re it. Unknown. “Regret for the things we did can be temereed by time; it is regret for the things we did not do that is inconsolable. Sydney J. Harris. “Remember, democracy never lasts long. It soon wastes, exhausts, murders itself. there never was a democracy yet that did not commit suicide. Johm Quincy Adams. “Ill gotten gain brings no lasting happiness, right living does. The Lord will not let a good man starve to death, nor will He let the wicked man’s riches continue forever.” Proverbs 10:2-3. “The budget should be balanced, the treasury should be filled, the public debt should be reduced. The arrogance of oficialdom should be tempered and controlled.” Cicero, 63 BC. “As nightfall does not come at once, neither does oppression. In both instances, there is a twilight when everything remains seemingly unchanged. And it is in such twilight that we all must be most aware of change in the air-however slight-lest we become unwitting victims of the darkness.” Justice William O. Douglas. Pajama people, forget gloom and doom, these economic stats are the Real McCoy. The Boy Scouts of America had it right with their motto, “Be Prepared.”

  • pleazzer

    This is what happens when we do not educate ourselves as to who we vote for, hold them accountable to the same laws they make, AND do not DEMAND HONESTY and accept their SPIN and bull while most of the time it is a FRICKEN POPULARITY CONTEST. OBAMA is the latest example. Everyone in CALIF wants to help everyone and give out free services, now being 70-90 BILLION in debt they are not the only State that has not been honest with their people. But it is also the people that think we can HELP EVERYONE AND SOLVE THE PROBLMES OF THE WORLD. What in the world makes these people think we should be involved in everyone’s business? Ya the Corporations want us there so they have some more people to sell to, exploit and control thru SPIN- “We are here to help you.”
    I have seen over the years that D.C. has one thing down pat and that is the DEVIDE AND CONQURE theory. They start half of and cause the other half of the problems. Just look at what the ATF has been doing lately. Fix the border problem? Hell no it is serving their purpose and keeps tax dollars being spent for non-citizens. Look at the amount of money already sent to Mexico and other countries. It is part of a shell game yes, but it also allows others involved to get some of the FREE GRAVY TRAIN. We have sent well over $500,000.00 Billion to Afghanistan (and know they have sent a lot to Dubai and other countries) but if you add in what we pay private Contractors that pay the Taliban to not blow up their structures and bridges in Reality we the American Tax Payer is paying for both sides of the war.
    Sorry to say it but we have not gotten the truth from D.C. for years and because WE THE PEOPLE did not pay attention when others tried to tell us we now face this crap and it may be too late to SYB. (Save Your Butt)

  • Brisa

    I believe that the politicians have not been the decision makers since the shadow government asserted itself in 1963 by offing JFK, RFK, MLK and no doubt many others.

    Voting for change is pointless. These clowns are not in control. Those in power are fixated on the empowerment of the national security state. As our cheap energy dependent society collapses, civil order will be maintained brutally by decidedly unconstitutional methods. Observe the latest police and paramilitay force being used on protesters in Bahrain for a preview of coming reality.

    BTW, don’t count on corporate news coverage of the atrocities committed against freedom loving citizens…..the revolution will not be televised.

  • Strayhorse

    I suggest that Americans require the following possible solutions for the American Congress to be implement as expeditiously as possible in 2011:

    The time has come for thinking outside of the box; for thinking critically about drafting an emergency resolution for taking action on a pressing matter that if precautions are not initiated soon will adversely affect the wellbeing of every man, woman and child in America. The Social Security system, Medicare, Medicaid and many state social services programs are at dire risk of imploding. There are neither the finances nor resources to maintain such overtaxed and overburdened programs.

    To relieve the pressure on the American economy, prevent the collapse of a once vibrant and beneficial system of assistance to those in need, and to encourage support for those who have also worked hard to support others, the time has come to initiate the following ECONOMIC FREEDOM AND STABILITY ACT: THE INVEST IN AMERICA, SOLUTION.

    Call it what you will, but the simplicity of the following program is exactly what America needs to take the pressure off burdening supports, and encourage re-investment in the American way of life.




    Please find below a simplistic compilation of suggestions for fixing America’s economy. Instead of giving any bail-outs of billions of dollars to companies and banks that will squander the money on lavish parties and unearned bonuses, use the following plan:

    PLAN I:
    There are about 40-60 million people over 50 in the work force. We suggest that the United States Government offer them $1 million each as severance for early retirement with the following stipulations:

    1) They MUST retire from their current employment and not hire on as an employee anywhere in America again. Forty to sixty million job openings will occur – National unemployment statistics will decrease as younger potential employees and college graduates are then hired. Unemployment fixed. (New retirees CAN start a business and hire new employees too)

    2) They MUST buy a new AMERICAN green made automobile. With 40-60 million new cars ordered the auto industry will once again become stable and solvent with jobs and needed resources enjoying economic growth- Auto Industry fixed.

    3) They MUST either buy a house/condo or pay off their mortgage on real estate in America thereby increasing jobs, and stabilizing the housing and mortgage issues – Housing Crisis fixed.

    4) They MUST purchase a life insurance policy to insure that those who depend on them for support will be taken care of in the event of untimely death or medical setbacks. –Dependents and Caregiver Coverage Fixed.

    5) They MUST purchase and carry yearly medical, dental and vision coverage for themselves and their dependents, decreasing healthcare costs and burdens for for the nation and insure continued wellbeing and quality of life. Healthcare coverage fixed.

    6) They MUST forfeit all future Social Security, Medicare, and Medicaid benefits decreasing trillions of dollars of social welfare costs; eliminating the financial burdens on the coming generations, and encouraging self-determination. Budget Deficit fixed.

    It can’t get any easier than that!!

    While we’re at it, we MUST require Congress to retire on Social Security and use Medicare like all other Americans. I’ll bet both programs would be fixed pronto!

    If you think this would work, please forward to everyone you know. If not, disregard…

    With the implementation of this retirement plan, America’s military personnel can be brought home to plentiful jobs without fear of increasing the unemployment ranks.

    PLAN II:
















  • wyattearp

    You folk’s are right, its not all the BOYKINGS FAULT! The FUALT lies directly on the 52% of the voters who ELECTED him! Dern FOOLS!

  • wyattearp

    ….and PANAMA John McCAINS usurpation of the NBC clause in the US CONSTITUTION! BORN on USA soil of CITIZEN PARENTS!


    1790: Mayer Amschel Rothschild states,

    “Let me issue and control a nation’s money and I care not who writes the laws.” 1791: The Rothschilds get, “control of a nation’s money,” through Alexander Hamilton (their agent in George Washington’s cabinet) when they set up a central bank in the USA called the First Bank of the United States. This is established with a 20 year charter.

    1811: The charter for the Rothschilds Bank of the United States runs out and Congress votes against its renewal. Nathan Mayer Rothschild is not amused and he states,

    “Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war.” However the United States stands firm and the Charter is not renewed, which causes Nathan Mayer Rothschild to issue another threat, “Teach those impudent Americans a lesson. Bring them back to colonial status.” 1812: Backed by Rothschild money, and Nathan Mayer Rothschild’s orders, the British declare war on the United States. The Rothschilds plan was to cause the United States to build up such a debt in fighting this war that they would have to surrender to the Rothschilds and allow the charter for the Rothschild
    The war of 1812 British burn down the White House
    “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 (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”
    – Thomas Jefferson in 1802 in a letter to ten Secretary of Treasury Albert Gallatin

  • Nick

    So – see if I have this right – –

    If the US takes in 2 trillion a year and if the total debt (including unfunded liabilities) is 70 trillion it will take us 35 years to pay off the existing debt NOT counting the interest that is accruing and assuming that the US spends NOTHING on anything else.

    So – – If I paid $50K in income taxes last year my share of “the pie” would be 35 times $50K or $1,750.000 !!!!! OUCH !

    This is too depressing to even think about.

    I have two young adult children – I don’t see how their generation will make it!

    I would welcome any responses.

    • Michael


      You are right – we are in a massive amount of trouble.

      But knowing is half the battle.


  • This design says it all. Comments?
    from this site

  • Ling

    Ahhhhh….Deficit doesnt matter, why? Because USA has military might to doom any country that wont accept the dollar! except China and Rusia, which the bully USA fears to bully!lol.

  • We are in a very serious economic crisis. The events transpiring in Ireland, Portugal, and Greece could become a reality here. I think nearly everyone agrees we need a solution, although there is disagreement over what. We need fiscal responsibility and balanced budgets. Also, I have started a not for profit group, the Association to Reduce the National Debt, to collect contributions to help reduce the debt. If we ALL contribute, we CAN make a big difference and avoid the economic situation in Europe. Under federal law, money donated by the Association to Reduce the National Debt MUST be applied to the debt, so, unlike taxes, WE decided where the money goes and the politicians can’t waste away the money. Americans are great at uniting at times of crisis. This IS a time of crisis. I believe deeply in this cause and hope you all will help out too! Together, we can lead this country out of financial crisis.

  • will

    I needed to put it into perspective so I did alot of research, built graphs and was so shocked at where we are economically that I did an amateur video with the charts and posted it to Y0Utube.

  • gfmucci

    In the first paragraph the author stated: “The United States has enjoyed the greatest party in the history of the world, but now this decades-old party is ending and the bills are coming due.”

    Towared the end of the article, the author laments that our children and grandchildren will never enjoy the same standard of living we had.

    Sounds like he/we want it both ways. We overspent to create an over the top standard of living that we take for granted. Then we cry because our grandchildren will not enjoy the same standard. That is the bulls–t attitdue that got us into this mess. And now we want to cry because the overspending party is over. That to me is insanity.

  • America’s debt problem is not just the problem of the rich or the politicians it’s everyone’s problem. Everyone needs to take personal responsibility for their own debt. It’s completely irresponsible when you take out a huge mortagage you really can’t afford and max out your credit cards and go get another loan from a shark (a ‘funny bank’) to pay the service debt. Unfortunately not only America has been enjoying the decades old party, now it’s time to pay the price for all the worldwide partying. People in this world need to wake up and smell the coffee.

    • Sassy Stylist

      I understand where your coming from however 10 years ago the working class had the money to pay these mortgages debts, and the everyday living expenses. But when the economy took a hard plunge the working class started making very little and the rich entertainers, doctors, lawyers kept making just as much. If the rich would come down closer to our level money making wise it would save money. Personally I don’t understand why entertainers make so much anyways. Contributing to our children’s laziness and entertainment is not worth 16 million a movie or cd to me. And for those who don’t speak any English to be able to come to the U.S,have 10 kids, sit home and receive more free money than someone who is an American citizen, hard worker, barley able to purchase food,take a bus everyday to work, and has nothing more than the clothes on their back is horrifying.

  • FredWB

    We need a Constitutional Amendment that puts a limit on federal debt. The debt limit could only be increased if Congress declares war,( last time WW II) and starts a military draft. Balanced Budget amendments have been introduced since 1936 to no avail so give it up. During the Clinton presidency we had “Balanced Budgets” yet federal debt continued to increase.

    The problem is not the Budget, it is the borrowing and spending. A credit limit will slow that down.

    • This would really gum up the works. But if there is no debt it is just tying our hands behind our backs. Study in detail how that so-called debt is formed and you will come to an endpoint where the Federal Reserve buys these Treasury securities from banks that bought them from the Treasury, and check to see that the Federal Reserve is a governmental agency using government powers. You will see at that point that the debt obligations in those securities have been redeemed for the private banks in question just in the very act of buying the securities. So, there is no debt. The Fed may not like to publically admit this, but I doubt if anyone challenged them in court that they could win the case.

  • Eaglewings

    If politicians put the money that they use for campaigning we wouldn’t be as much in debt.

  • Great post on the national debt problem. I was wondering if you know if there is anywhere we can see how many people have made voluntary donations to help with the debt and for how much? It would be interesting to see.

  • The government should not touch one program in the United States of America until ALL foreign aid is stopped. No citizen should suffer financially while we are sending aid to other nations.

  • The government should not touch one program in the United States of America until ALL foreign aid is stopped. No citizen should suffer financially while we are sending aid to other nations.

    • The only reason we send foreign aid is to make things better for us by having a better world and countries friendly with us.

  • Roy B

    The question is really what can we do to change politician’s behavior so that they have a longer term perspective and take very difficult short-term action. If I planned for my business to lose money, for more than say 1 year, my plan would be questioned. If I ran a business that was far below plan I would be fired. I take action today to create shareholder value in future because that is what is expected of me and because I expect to receive a return in the form of options and bonuses. Most politicians are already rich and therefore adjusting their compensation is a weak lever and most of them return to highly compensated lobbying jobs if not reelected, so the threat of being fired does not hurt them financially. What can we do to create the right stick and carrot?

    • Good points. But that sort of outlines the problem. What lines do we have to follow to a solution?

  • Why don’t all the millionares and billionaires help on the debt. I know they pay taxes and their share, but we are in trouble and need the americans that can do it stand up and do what great americans did like in the past. Look at the leaders in the past that made a differents. Lets do what it takes to make america great.

  • Why aren’t the Democrats or the Republicans saying one word about all the monies we are giving to our Enemies ?? It seems like our Country likes a dictator, so a dictator they shall have..We will never get out of the middle east…

  • Hikmet

    Do you guys think 2013 is bad time to move to USA for 4 year university studies?

    • No. I see nothing that suggests education will be denied you here. But if bullets start to fly, then hold off. But I doubt that.

  • May be, it’s the sweet opinion: we see the end of Imperia, the end is near.
    Imagine for a minute, please, Obama says “Guys, I need help, we should deal with it, we need this offer”, and hear the answer “No, dear Barak, we are from different parties with you” – is it normal, how do you think?
    And if it’s true, the group of fellows makes all world wait, just cause.
    I’m sure, they’re not such idiots.
    Just nobody wants to lose the scores in the further elections, neither Obama, nor Republicans. They’re staying against together like a cowboys on midday and waiting for a good moment.
    This moment is near. Nobody wants to devaluate the dollar, but it’s just a moment when can be default of – that’s true.
    I’m sure that Obama, we can believe in, and whole Government, are working for us and working on it.
    I’m sure.

    • We elect career politicians who are motivated by their own self interest which is to be reelected.
      In order to be reelected they make promises and give money and benefits to the people; this is not in the greatest interest of the country but that is not their concern….thus…if we do not have term limits and end politics as a career nothing will change. We can see where “experienced” politicians have gotten us.. their experience is totally limited to lying and being reelected not in governing…. we told them what we want and they gave it to us….THE END!!

      • Well, Obama isn’t doing it to be reelected. He only gets two terms.

  • C-15

    National debt is so huge and so out of control that it can never be paid off. Best to have the government file a tax return for the first time and allow it to claim the whole national debt as a one time total loss.

    • If you think there is debt, yes, it could never be paid off. But I think it has already been paid off when the Fed as a government agency of the United States bought the securities constituting the debt with money it created out of thin air. If it looks like a duck, walks like a duck and quacks like a duck, it’s a duck. If it looks like a government agency, buys things with powers given to it by Congress, buys United States securities with money created out of thin air using Congressional powers, it looks like what would be done if a governmental agency took tax money to the Fed and bought back the securities there. That looks like a redemption of debt obligations of the United States by a government body.

  • Why do they always feel taking from the poor and giving to the rich is the answer to the problem. I feel they need to tax the rich and raise corp. taxes. If they only raise these taxes by 1/16th% for every million dollars the national debt would be gone in around 7 1/2 raising credit card interest by 1 percent also would also increase revenue

    • Mike

      The rich are the only ones paying taxes along with the middle class and at a higher percentage(39%). The poor pay little to no taxes. In fact the more kids you have, while being poor, you actually get EIC money that you never paid into. How is that right?

  • Ra

    US is buying abroad approximately 10M barrels of oil per day out of 19M it consumes. Given the price jump from $85 to $110 during two months after Libya attack, US was losing $250 million dollars a day. In a week $1.75B dollars, almost 3 times more then your $600M above.
    Even today when prices still $95-100 /barrel US loses $100-150 M dollars per day.
    Country of idiots.

    Saudis and Russians told me say thank you.

    • But what are they getting? paper. What are we getting? Oil.

  • FrankB74

    Illegals come here and get free medical care and college. Politicians spend huge amounts of money on campaining. Banks give their CEO’s huge bonuses, etc., etc., etc. Huge dollars are spent on climate change “caused by humans.” A volcano burps 3 times in iceland that lets out enough Co2 that every penny we’ve spent on recycling for the last 20 years was for nothing. The government needs a total overhaul.

    • Unless a community gives free college tuition, I doubt that “illegals” or undocumented individuals (like children of illegals brought here by their parents) are getting education without paying tuition for it in some way.

  • R.W.Weldon

    You want to down pay the national debt, follow the direction’s ToTO; United States Code TITLE 12 > CHAPTER 3 > SUBCHAPTER XII >§ 411. Issuance to reserve banks; nature of obligation; redemption
    Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank

    • This just declares Federal Reserve Notes are legal tender for all debts public and private.
      Look in your wallet at your bills. What does it say at the top of the bills? And if you take a $100 dollar Federal Reserve note to the bank, it can redeem it with five $20 Federal reserve notes. And the Federal government (United States) has to accept them in payment of taxes, fines or fees at the Federal level. Coins on the other hand are minted at the Treasury’s U.S. Mint. These are also legal tender for all debts public and private.

  • M.Shannon

    Citizens WOULD support a law to drug test govt aid recepients. Most people say if we have to pass a drug test in order to work, they should certainly have to pass one to get assistance. For housing, food stamps, medicaid, SSDI and unemployment! This would at least stop the flow of those benefits that are being cashed in for illegal activities.

  • This “taxing the rich” stuff is nuts. Who are the “rich” anyway? Everybody seems to have a different definition. Is it those making over $250,000 a year, those with net worth of over $1,000,000 or simply someone making more or having more than the writer??
    People making over $250,000 a year are already paying well over half the taxes and they are only 5% of the taxpayers.
    Over 40% of the households in the U.S. pay no taxes.
    How about a system where everybody who earns above the poverty level pays some income tax, say $100 minimum. Then a scaled increase so that someone making above $100,000 pays a minimum of $10,000 and the $1,000,000 earner is paying $100,000 minimum regardless of any deductions. Then we have almost 90% of Americans with some “skin in the game”.
    So much for raising new taxes. How about we than restrict spending? Politicians have proved over and over for decades now that they will not only spend every dime raised thru taxes but will spend mor and more by printing money and running up our debt (now $14 trillion). How about just “no more debt” just balance the budget?.

  • I humbly invite anyone to a public debate in Lake City, Florida concerning the following letter to the Editor. in 8/13/11 Lake City Reporter, page 4A.* Title: Abortion and the national debt* To the Editor: Since April 2010, when I put an ad in a Sunday edition of the Lake City Reporter I have written that there is a correlation between legal abortion nationally and national debt. Let me make it into a hypothesis: “Abolish abortion of inhabitants of the womb nationally or suffer national bankruptcy.” Proverbs 14:34. Research the Bible and see if there are verses that say there is a correlation between national sin, like the sin of murder of inhabitants of the womb via abortion, and national judgment, such as national bankruptcy. Kenny Merriken Lake City

  • Nazeer Ataullah

    Enough is enough. Stop funding for wars on wrong notions and precedents.

  • chel/chan

    We are all at fault!!!!!! We are slowly going to disintegrate as a nation. Love life while it lasts….. 🙂

  • What I really dont understand is…Why Are the American citizens getting the Short end of the stick, where as the people(politicians, ruling class elites) are Living Prosperous in a problem that they themselves caused and created? I think it’s still enough time to realize, who or what the true problem is and why they are doing it…nothing further from the truth, I think we all can come to the common sense conclusion and Agree that “We”(The middle class Americans currently the 99%) Are getting played for some fools.

    • Perhaps a few really rich guys think they can make us all serfs under their control.

    • pointman pete

      are we too complacent about this problem. we are being played, but we all have to get together to solve it and that will never happen.

  • Nathaniel

    Well i see a problem the economy is horrible we are in A big hole with other nations and we just need to find a way to balance the budget and stop being babys about the subject and do whatever it takes too get out of this national debt because if we dont stop the united states as we know will be gone for along time

  • David

    We must balance our budget now. FIRST, immediately, cut out excessive government spending, bring our troops home, reduce all foreign grants and payments, make every government expenditure public. SECOND, limit. Federal expenditures to 18 percent of GNP moving towards a balance budget. THIRD, Congress must pass a Budget for the subsequent
    fiscal year within two months of the end of the current fiscal yea or receive no pay or benefits of their position, FOURTH, make no federal or state payments to any illegal resident of this country, FIFTH, consume USA produced petroleum products only. Environmental limits to be reduced to only immediately essential for survival, SIX, reduce subsistence payments to those necessary for immediate survival only. Healthy people work. Care for the sick. SIXTH, Congress will pass no bill benefiting members of Congress without the informed consent of the governed. All current programs for the benefit of Congress members to be specificly authorized by the consent of the governed. Congress will receive no waiver to entitlements that are directly available to the governed. SEVENTH, politicians who lie are to be first sanctioned by Congress and fined $100,000 for the first event. Upon a second event of lying, the member of Congress is to be fined $500,000 or resign the position. A third event of lying will result in removal from office and forfeture

    • Balancing the budget is not the solution at this time. You don’t get out of a recession by balancing the budget. You assume that all the money there is has already been created, but we have fiat money, have had it since 1971 when the dollar was taken off the gold standard. We have gotten along fairly well since then. But we aren’t taking full advantages of the powers that fiat money has, and not understanding some of the dangers of misusing it. Right now we are not in a situation that fiat money has difficulties with. We don’t have inflation. We have a recession, and to get out of a recession you have to introduce new money in the economy in the hands of consumers who will increase demand for goods and services and start the economy up again. Deficit spending does not lead to more national debt, contrary to appearances and the myth. Deficit spending leads to more new money entering the economy, created by the Fed which has unlimited powers to create money, All money is is tokens of debt in units of account (dollars) between parties in the economy, and to keep the economy going and growing you need to keep adding new money into the economy when the economy slows down, or the population increases, or new materials and processes are discovered for creating more wealth.

  • Disreputable

    this country is finished, it has been since the day welfare and corporate intrest wars(Middle eastern wars) became acceptable ways of life in this ghost of a nation. The American dream is real alright, because you have to be asleep to believe it.

  • silas dogood

    Another way to envision our national debt: Imagine a ten-ton dump-truck slightly over-loaded with 11 tons of $100-dollar bills. Now imagine a line of those loaded dump-trucks, (200 to the mile), SEVENTY-FIVE miles long….that’s our national debt!

    • Thats our money in the world economy. But really, there is no debt. The debt is a myth, an urban legend, believed by lots of people because they think Federal finance is like household, or business or state or local government finance. If they would look at the details of what happens when the government deficit spends and traced the path of all the securities that constitute this debt to their final resting place at the Federal Reserve Bank, they will see that the Fed (as it is called) has automatically and implicitly redeemed the debt obligations of those securities when it bought them in the very act of buying them as a government agency of the United States.

  • chase kirby is a sexy beast

  • hunter savage

    the black hole will kill use all

  • Al King

    How about if we get all of the politicians to stop with the insurance programs they have and get what we have, stop getting their high pay for doing nothing, and when they retire they get social security like we the tax payers get. All of them, no mater if they are Republican or Demarcate, just want to go out and tell us what we want to hear just to get re-elected, bash the other parity, and say see how great we are? At one time as far as I can remember, when they ran for election, they would bash each other a little, get elected, then work together for the betterment of ALL OF US. Now it seems that all they want to do is what is best for them,and the business and rich people that got them re-elected. If any of them are serious about their job, have them learn to work together for for all of us like they were elected to do. Maybe if we fire ALL OF THEM, and get a NEW start with honest people, we can bring this great country back again. May God help us all.

    • Well, this do-nothing Congress certainly ought to take a dock in pay.

  • Daniel

    It will never be paid off as long as our government is out for themselves. Democrats vote for debt and then Republicans vote for debt. Everytime they raise the debt ceiling they are voting for more debt. Here is a tough idea, BALANCE THE BUDGET. No more loans , operate within our means, have a sustainable energy policy, End entitlement programs that have the least impact first and then scale back the bigger ones. PASS A BALANCED BUDGET AMMENDMENT that is tied to the politicians future. Our own future depends on it.

    • Balanced budgets aren’t the answer. You can have inflation or depression with a balanced budget. That is because balanced budgets alone do not balance off against high exports bringing in much money or high imports taking lots of money out of the nation. You need to balance all these things so that people’s savings and incomes are increasing and there is full employment, and you have stable prices.

  • There IS a way out of the debt crisis that we are in right now, and at the same time end unemployment and the homeless in America, it’s just a matter of procedure. Quit being fixated on the problems and look to the obvious answer. I won’t mention it in this, I don’t need the problems it would invite

  • Templar8

    It looks like some people still think this debt is going to be paid off. Of course it isn’t. It isn’t possible. It would be like me owing $3B. Yeah, I would owe it, but would I pay it back? Could I pay it back?
    It would take me longer than the US paying back the $15T back at $150B a year (100years-at 0% interest.) That works out to $410M per day. Yeah, like that’s going to happen.
    You know; maybe Obama and his dems are really smart. Since the debt isn’t going to be paid back, why not run it up? As long as there are fools who will lend you the money, just take it. Defauly on $15T or $30T or $50T. What’s the difference?

    • Don’t worry, it’s already been paid off by something/somebody that has powers to create unlimited amounts of money out of thin air, the Federal Reserve Bank. The problem is that the myth of the national debt is so strongly held, even rational and seemingly knowledgeable persons believe it. But they aren’t looking closely at how the so-called debt at the Fed was formed. And they didn’t have the ideas of fiat money to make them look at things in a different framework. Those ideas are given by Modern Monetary theory, which is the theory of fiat money and how it works and should be managed to attain full employment and avoid inflation while having stable prices. Another interesting book on this is Ellen Brown’s “The Web of Debt”. She gets everything right, except she fails to see that there is no debt once the Federal Reserve buys the Treasury securities from banks that bought these securities from the Treasury. The Federal Reserve is a governmental agency. Their FAQ says so. Any governmental agency that can buy these Treasury securities, can redeem them. The Fed can do it because these securities are often for millions and billions of dollars, and the Fed can create any amount of money out of nothing to buy them. But that is the power of a fiat money system. It’s only limitation is that if you create too much money chasing goods and services, prices will rise and you will have inflation. Modern monetary theory explains how there are ways to control inflation: raise taxes, cut spending, especially deficit spending, sell government bonds and securities, encourage imports, encourage savings –i.e. do whatever takes money out of active circulation. But during a depression or recession, you need to do the opposite: lower taxes, increase spending, especially deficit spending, buy back bonds and securities, discourage imports with tariffs and higher interest and import taxes, lower interest on savings.

    • pointman pete

      china today said we were at the end of the road if you cant borrow you got to print.

  • You can not SPEND your way OUT of debt! No matter how they like to dress it up, it will never happen.
    There is so much misinformation, and this is down to the strange-hold on mass media.
    If truthful. unbiased information would reach the masses, things would be different.
    Unfortunately, it seems the masses don’t want to spend the time researching online, and will wait in their armchairs until we spoon feed it to them!

    • That is true, but we really don’t have a debt once you look at who is supposedly holding it and understand how they got it.

  • Kristian Freeby

    Hello guys,this problem is just horrible i live in holland en the ipod touch is nog here jet.i was wondering if the shipment to holland also have bad displays, do you have any idea ??because when you buy a device of 400,- you just expect it to work properly!

    • Ask an Apple dealer or a wireless dealer that sells iPods in your country.

  • marion murphy

    I’ve read some pretty interesting propositions here. I think the government should start listening to the peoples’ ideas on how to solve the crisis. Why not set up a website where americans contribute their ideas and the government attempt the plausible suggestions. I mean after all it is a democracy and we are the ones who will suffer. It’s so impossible to get an audience with elected officials much less would they even consider pushing forward with such ideas because essentially they are sitting in the corner sucking their thumbs waiting for doomsday like the majority of the country. All while the other portion of the population is just plain ignorant to what is happening. As a mother it is very saddening to know what is to come for my daughters future and i know as an American I would love to follow other Americans in their pursuit to save the economy. I mean any attempt is better than none at all and obviously what ever the government is doing is not working.

    • T A Wood

      Unfortunately the only way Congress will listen to what we have to say is after we vote them out of office. The present Congress is protecting the rich and there is only one way to change it. We the people have the right to vote for elected officials we want to represent us.

    • Well, start right here.

  • T A Wood

    Everyone says tax the rich, but this in itself will not produce enough money if there is still an Earned Income Credit (EIC) taking it away. The best thing would be a flat tax where everyone pays the same rate no matter what their income level. Get rid of 90% of IRS and no more giving low income families with numerous children thousands of dollars they never paid into the system.

    • Taxing the rich will not get us out of the recession, if we don’t turn around and spend that tax money on creating jobs by funding infrastructure projects to be constructed by private firms. But more important is doing deficit spending (there is no national debt, folks; that’s a myth), because deficit spending leads to new money being created and spent into the economy. All money is, is tokens of debt in units of account (like dollars) between parties in the economy. They are like tickets which have no value in themselves but only have value for what they can buy. And they aren’t just coins, but paper, numbers in a spread sheet, certain kinds of electron configurations in computers and copper and glass wires. As tokens they must endure for some time so they can be traded back and forth. All of this is taught in Modern Monetary Theory. Look it up in the Web.

  • we are very weird , we throw away alot of money except for re-using it instead of throwing it away we could make it pretty again and then use it for all this debt were in .

  • American greed

    Capitalism has spun way out of control…..Big companies like Walmart,WALL STREET, Macdonalds, Costco, Banks, GM, Chrysler, BP, EXXON-MOBILE, SHELL make billions and billions of dollars every year……AT the expense of making each middleclass citizen go more in debt each year. The rich get bailed out everytime they cry “help me”……Middleclass with no house, no jobs, left crying “help me” are left abandoned!!Everything is outsourced out to China…..and then they wonder why the unemployment is 12pct? Make all the RICH pay for the DEBT, TAX them 25pct additional in taxes for the “DEBT REPAYMENT FUND”. A revolution is coming soon, The RICH have killed this Country. Every working American will have to stop working for these companies to end this debt cycle!!

    • Really? Capitalism is the problem.
      The only system that has ever produced a prosperous functioning economy in the history of human civilization is Capitolism!!

      The problem is very obvious if you learn how to apply logic and pragmattic thinking to the problems we face. A major part of the problems we face are due to short term thinking and using emotions instead of logic for solving problems. I could literally fix every major problem the US faces in a matter of months if were given the power.
      1. Use the military for OUR national security only!
      2. Cease all foreign trade and aid., this means weining off foreign oil.
      3. stop the ability to sue for monitary purpose. If you don’t have an invoice, you can’t sue for it!!
      4. Fix the criminal justice industry. Arizona has it right.
      5. Stop illegal immigration with the military, it is a national defense issue.
      6. get rid of minimum wage!
      7. Cancel the need for years of schooling to get liscenses. Put effort into making the testing process buletproof on producing qualified people. Schools will pop up everywhere at a fraction of the cost.
      That would be a giant leap in the right direction!!!

      • pointman pete

        we do need more homeland security, but we have such an arsenal that needs to be flexed far from our borders to be completely effective. if we had in vietnam what we have today, i think people would jump in line just to use some of this stuff.

    • Ciara

      Let’s go tax the corporations that actually produce jobs so that their profit margins suffer and they institute layoffs. That makes so much more sense. And furthermore I’m not rich but I do not think people that work hard for their money should have to bail out the entire system when we let illegal immigrants come in and take our jobs, welfare, etc. We give out way too much government aid to some people that are just to lazy to get jobs. I am a middle class citizen that works hard and it really upsets me to work in a school where 99% of the kids are on free and reduced lunch but have nicer clothing and shoes than me. There’s something wrong with that picture when my tax money is giving them a better lifestyle than what I can afford to lead.

  • noah toe

    we need to start frying up the politicians and serving them at all you can eat buffet’s along with lawyers, doctors,and every fat ceo bastard out there

  • noah toe

    we have to start frying up the politician’s and serving them up at all you can eat buffet’s the lawyers,doctors,dentists,and all the fat ceo scumbags out there have to go in the pot as well the poor are getting mighty, mighty hungry

  • noah toe

    eat the rich

  • lets be honest, who really cares? no one so shut up and go watch disney because all of you are acting like babies. always remember and never forget, adults are just kids with money..

  • Jesus

    You are spot on..!!

  • Rey Rogelio G. Manalo, Jr.

    ~•~•~•~•~•~ ON NATIONAL DEBTS ~•~•~•~•~•~

    We True Christians are exempted from any National Debts since we have become ‘citizens of Heaven’ and no longer citizens of any nation as we can read in Philippians 3:20, NIV = “But our citizenship is in Heaven. And we eagerly await a Savior from there, the Lord Jesus Christ,”.

    Nationalities are just formalities written on paper. On Judgement Day, we will not be identified by our race, denomination, socio-economic status, nationality, occupation, etc. We will only be classified as either Followers or Non-Followers of God’s Will.

    Any National Debts therefore, does not apply on us True Christians. We are indebted only to the Lord. National Debts apply only on the citizens of those countries with National Debts. But with regards to taxation, True Christians are obliged to pay taxes to the Government as written in Romans 13:1-7 = “… This is also why you pay taxes, for the authorities are God’s servants, who give their full time to governing…” ((^_^)) ☻ ☺ ☻ ☺ ☻

    • Fine, but that will not stop the Federal government from hauling you before a court and having you sentenced to jail if you do not obey its laws or pay its taxes. And Christ’s advice is realistic advice for anyone who wants to live in heaven on earth.

  • Daddy West

    i dont like it

  • Nuk

    Nothing is stopping all the people who think taxes must be raised ,from voluntarily sending , say 50% of their own money to the IRS. Starting with all the rich 1 % Hollywood loud mouth hypocrites.

    • It is saddening to read such uninformed comments. Where do you think money comes from? Heaven? No, the federal government creates it and spends it, and it eventually gets to you. You have to pay taxes with it. And it keeps track of your and others’ debt obligations in units of account (dollars). The Federal government does not get its money from anyone else, like you. It doesn’t need your taxes to create it or to spend it.

  • momma

    My dad always told me pay off the debt before you can say. I do not see how the US will get away with erasing some of this debt wihout raising taxes. Do I want to see a raise in taxes, of course not. I do however think that every taxpayer is going to have to put more in. I also think reducing spending is very important also. How can you spend money that this country obviously does not have. When I think about all the programs that care being cut, yeah, I think it sucks but if we can’t afford it, then we can’t afford it. Simple as that. Americans and politicians need to get their priorities straight. I have federal student loans that I will pay back. I do anticipate that I will be paying higher taxes. Yes people, we are in debt (a whole lot of debt). But I am willing to put myself out there and do what I need to so for this country. STOP WASTING MY MONEY ON THINGS THAT WE DO NOT NEED TO OPERATE!!! People need jobs to make money to pay back that debt. The US government needs to pay that debt back too. You can’t expect the standard of living that people became accustomed to to exist forever. I agree that if people are having to get back to the basics and pay for their needs and not their wants, the US government should do the same. It is almost like these people forgot ECONOMICS 101. Quit your belly aching and get to work on fixing our economy and putting people back to work. I learned a long time ago, if yu can’t aford me, then you can let me go. People that depend on government programs to survive should not have to and the US government should not make these people solely dependant on them to live. It is not right!

    • Securities are IOU’s that promise to repay the owner of them for money it lent the government at some future date plus interest. The debt, so-called, was redeemed without taxes. It was redeemed by the Fed buying the securities from banks that got them from the government at the Treasury, using fiat money the Fed created out of thin air. It does this all the time. No taxpayer money is used. The Fed is the government, just as is the Treasury. This is not economics, but civics. And as for the rest of your complaint, do you think the government should not buy aircraft carriers with your money to help protect you? Do you think the government should not have built the Interstate Highways you ride on so conveniently? We can afford anything as long as there are raw materials, factories to use them to produce goods we want, and workers who want to work producing them. Where do you think your money comes from? Who makes it?

  • There truly is no national debt at the Federal Reserve, which holds Treasury securities constituting the so-called “federal debt” and issued to fund deficit spending, a big part of the national debt. The reason is because the Fed (as it is called) bought the securities held initially by private parties who bought them from the Treasury at auction, using money it created out of thin air, new money. The Fed is an agent of the United States government, so it automatically has redeemed the debt by the act of buying these securities with money made out of nothing using Congressional powers delegated to it to create (coin) money. Thus the fear and terror that people have that the United States is going to collapse under crushing debt is myth and nonsense. This is all possible because we have a fiat money system where money is created by the sovereign national government and backed by nothing but the full faith and credit of the United States.

    • Etard

      “No national debt” , try telling that to the nation of Greece about now. What you’re saying may be true for INTERNAL debt, but what about EXTERNAL debt to other countries?

  • You like most Americans think about the finances of the federal government using a false analogy. Our government’s finances are not like a household’s finances. A household has to get already existing money in order to spend. It has to seek a balanced budget. But the Federal government has a power no household, no business, no state or local government has: the power to create its own money and spend it. And if needs be it can spend unlimited amounts; only it shouldn’t be so wreckless. But what makes the Federal government different is that its money is fiat money, money designated by decree of Congress. It is not backed by anything, which makes it more flexible and under human control. Furthermore, as I show above, there is truly no national debt because the debt obligations of the securities constituting the debt at the Fed have all been redeemed to their previous owners by the very act of the Fed’s buying them from them as an agent of the United States government. Ask yourself: where does money come from?

    • Nonsense! Debt is an obligation. We are giving our freedom to the federal reserve. Don’t think for a second that it won’t be collected in some way. Most likely it will be in the form of freedom or heavy taxes. There is no such thing as a free lunch as you are trying to convince everyone!

  • There is no national debt. When Congress deficit-spends, Treasury issues securities to get money to cover the deficit. These securities are sold at public auction to large banks. This is a now a debt of the government to the banks. But wait, next the Federal Reserve buys these securities from the banks with fiat money it creates out of thin air using powers to create money delegated to it from Congress. The Federal Reserve is an agency of the United States government established by the Federal Reserve Act of 1913 as amendedl. That means the Fed, for the government, has redeemed the government’s debt in the very act of buying the securities from the banks. Since the national debt (so-called) is constituted by all the Treasury securities accumulated over the years by purchases of the Fed, this means none of these securities has a debt obligation of the United States to any private party. And the government doesn’t owe itself anything for any act it performs.

    • Really, so the trillions we owe to China, Japan and others do not have to ever be paid back and the $500 billion in interest charges for fiscal 2013 is imaginary?

  • Jeff

    what uninformed stuff. Look at us debt through history. Anywhere from 30 to 120 % of GDP. The CBO now has US debt flattening off at 80% of GDP this after a major recession and two wars. Crisis crisis, no its not. Debt will go down as GDP improves unless we are stupid enough to follow the advice of this blogger.

  • Petro Huryn


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