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The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months

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America Is BrokeThe idea that the Obama administration has the budget deficit under control is a complete and total lie.  According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014.  But this number is just for public consumption and it relies on accounting tricks which massively understate how much debt is actually being accumulated.  If you want to know what the real budget deficit is, all you have to do is go to a U.S. Treasury website which calculates the U.S. national debt to the penny.  On September 30th, 2013 the U.S. national debt was sitting at $16,738,183,526,697.32.  As I write this, the U.S. national debt is sitting at $17,742,108,970,073.37.  That means that the U.S. national debt has actually grown by more than a trillion dollars in less than 12 months.  We continue to wildly run up debt as if there is no tomorrow, and by doing so we are destroying the future of this nation.

The chart that I have posted below shows the exponential growth of the U.S. national debt over the past several decades.  Anyone that would characterize this as “under control” is lying to you…

National Debt 2014

This is the greatest government debt bubble in the history of the world, but very few people seem to have any desire to do anything about this anymore.  We are literally gorging on debt, and most Americans seem to think that it is just fine and dandy.

Perhaps that it is because we have never really experienced any serious consequences for going into so much debt yet.

But when it comes to running up debt, a day of reckoning always comes eventually.

Just ask Greece.

And the absolutely insane spending policies of this administration and this Congress are hastening the day when our day of reckoning will arrive.

Consider the following facts…

-The U.S. national debt has increased by more than 7 trillion dollars since Barack Obama has been in the White House.  By the time Obama’s second term is over, we will have accumulated about as much new debt under his leadership than we did under all of the other U.S. presidents in all of U.S. history combined.

-The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.

-If the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

-Right now, the United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.

-In August, the average rate of interest on the government’s marketable debt was 2.028 percent.  In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent.  If we got back to that level today, we would be paying well over a trillion dollars a year just in interest on the national debt.

-At this point the U.S. government has accumulated more than 200 trillion dollars of unfunded liabilities that will need to be paid in future years.  In other words, we have made more than 200 trillion dollars worth of promises that we do not have money for yet.

Thomas Jefferson once said that “the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

What we are doing to future generations is absolutely unconscionable.  We are stealing trillions upon trillions of dollars from our children and our grandchildren, and we are willingly consigning them to a lifetime of debt slavery.

I have said this before, but it bears repeating.  If future generations get the chance, they will look back and curse us for what we have done to them.

And shame on anyone that would dare to suggest that we should continue to run up more debt that future generations will be expected to repay.

But government debt is far from the only massive debt bubble that we are dealing with as a country.

40 years ago, the total amount of debt in our nation (all government debt plus all business debt plus all individual debt) was sitting at a grand total of about 2.3 trillion dollars.

Today, that total has grown to 59.4 trillion dollars.

As the chart posted below shows, our total debt bubble is now more than 25 times larger than it was just 40 years ago…

Total Credit Market Debt 2014

If you were to take all forms of debt in our country and divide it up equally to each person, the average family of four would owe approximately $735,000.

This is not anywhere close to being sustainable, but most Americans don’t seem to care.  They just continue to recklessly run up even more debt.

However, there are signs that we are starting to hit a wall with all of this debt.

For example, an astounding 35 percent of all Americans have debts that are so overdue that they have been referred to collection agencies.

Our nation has become an ocean of red ink from sea to shining sea, and the only way to keep the bubble from bursting is for the total amount of debt to continue to grow much faster than the overall economy is growing.

Obviously this cannot happen indefinitely, and when this house of cards comes crashing down it is going to be absolutely horrific.  For much more on all of this please see my previous article entitled “The United States Of Debt: Total Debt In America Hits A New Record High Of Nearly 60 Trillion Dollars“.

The big question is how long our “bubble economy” can keep going before it finally collapses.

It has gotten to the point where even some of the biggest banks in the world are admitting that what we have been doing is completely and totally unsustainable.  Just consider the following excerpt from a recent article by Joshua Krause

*****

Recently, strategists for Deutsche Bank released a startling study in regards to government debt. They decided to investigate whether or not the bond market is currently in a bubble. What they found was, unlike previous eras, the past 20 years has seen no lag between economic booms and busts:

It has long been our view that over the last couple of decades the global economy has rolled from bubble to bubble with excesses never fully being allowed to unravel. Instead aggressive policy responses have encouraged them to roll into new bubbles.

This has arguably kept the modern financial system as we know it a going concern. Clearly there have always been bubbles formed through history but has there been a period like the last 20 years where the bursting of one bubble has consistently led directly to the formation of the next?

Essentially, our current system has been dying a very slow death. It’s running out of steam.

*****

Sadly, most Americans have no idea that we are living in a giant debt-fueled bubble that has a limited lifespan.

Most Americans just assume that since the politicians tell them that everything is going to be okay that they don’t need to be concerned about any of this.

But every single day our debts get even larger and our long-term financial problems get even worse.

Someday this bubble is going to burst and then all hell will break loose.

It is just a matter of time.

  • rat28

    I can only blame the republican control congress for not working with Obama to reduce the deficit,

    • Hillbilly

      You must be joking right? The republicans shut the government down to try to get president stompy feet to balance the budget and he through a fit my two year old would envy closing open air monuments and public parks and lands until they agreed to the debt ceiling increase. You are either joking or dumb as a box of rocks

      • John Francis

        Right, and W. Bush spent like a drunken sailor, doubling the national debt.

        • VegasBob

          And after 8 years Obama will have doubled it again. So what exactly is your point?

        • JF1962

          I dislike the Republicans as much as I dislike the Democrats. Both parties are bought and paid for.

    • afchief

      You have to be a liberal? Because this type of thinking shows how delusional liberals truly are!!!

      • rat28

        It is the GOP house leader who bail out from the grand bargain which has 3 times more cut than revenue because the nutcases in the GOP have to protect the rich paymaster. Conservatives are not only stupid but also plain ignorant about the fact.

        • afchief

          More proof liberalism is a mental disorder!

        • Joe in OH

          ESL courses are available everywhere now. So is the truth. Spend some time finding both.

    • Joe Kleinkamp

      I really hope you are being sarcastic. If not have you forgotten that the prez has threatened to veto everything the republican house proposes? He won’t have to though because Harry Reid won’t even let the senate consider any of it. You hear Obama complaining that “nobody wants to play with me” but the reality is he just doesn’t want anything other than his exact agenda.

  • Richard

    Yes. Most Americans have No idea they are living in a Giant debt fueled Bubble. Because the hard times and pain of the Great Depression are Unknown by the last two generations. This Monster Debt Bubble really started its upward ascent only since the mid 80’s. Then, it started to turn parabolic after 2001. So, for the majority of Americans they have not been touched by the pain of this Debt Bubble – Even though its grown into a Monstrosity. Also, its been concealed from view with Smooth sounding words of Economists, Politicians and the Media, making the public think (when they think at all) that all is well. Behind the scenes is a very Evil Giant Squid (Rothschild Banksters) using the Federal Reserve and U.S. Treasury to manipulate by Evil machinations in a thousand different ways this Fraudulent, Fiat digital electronic monetary system – To keep things going a while longer. These Global Banksters have stolen and enriched themselves over the last 100 years with untold trillions of Dollars. These Global Banksters enabled and abetted our Politicians in Washington to run up this Monster Debt Bubble since the mid 80’s to the point that now – When it bursts the Nation will be Impoverished. The Global Banksters have it within Their power to Collapse the Dollar and the Economy in a Time of Their choosing and that Time is drawing very near. The American public could be compared the Titanic. She sailed from England brand spanking new and was considered by many to be Unsinkable. A little more than midway across the North Atlantic she struck an iceberg (2008) and the band played on.

    • Tony

      And what can do we do as individuals to plan for the inevitable?

      • Richard

        Tony, what you can do is what I have done. Take as much of your wealth in currency (the dollar) as you can afford and by silver and gold coins. I suggest 60% in U.S. silver eagle, one ounce coins and 40% in U.S. gold eagle, one ounce coins. These should be held in your possession – where you can lay your hands on them. So, if you had $50K that you could preserve your wealth with, put 30,000 in silver eagles and 20K in gold eagles. Leave only enough cash in your possession and in checking needed to pay bills and transact your monthly needs.

        • Tony

          Thank you kindly Richard. I have started doing that and will plan on making more while the price is down. Bets of luck to us all.

  • John

    As long as the stock market goes up nothing else really maters. At least that’s what some people think.

  • Bill

    When the “Big One” pops it will annihilate everyone and everything. Not possible——What if I’m right? Just pretend I am because that is the fear that everyone should have to bring focus to this debt problem.

    Remember: How long would you last if your debt was 77 times your capital?

    • Mike Smithy

      TPTB never planned on paying for the debt. The goal has always been to maintain interest payments on the debt until such time that paying the minimum is unsustainable. It’s the ultimate experience in “kicking the can down the road”.

      • Bill

        So true. Will be very interesting when the rate heads north.

    • Nobleharbor

      Before or after bankruptcy?

  • JailBanksters

    Easily paid off, just borrow another 1,1 Trillion

    • Richard

      That’s called Stacking – Debt. Not Paying Off.

  • chilller

    Remember who your neighbors are who had those Obama/Biden bumper stickers so they may be shunned by everyone for their gullible ignorance and stupidity.

    • Justin OB

      dont forget the idiots with the mccain palin and w stickers also

      • Mike Smithy

        I appreciate your intellectual honesty. Both political parties are culpable. However, the difference is that the Democrats are headed for the cliff at 100mph and the Republicans are headed for the cliff at 70mph.

        • Firstgarden

          “And I’m free, free falling
          Yeah I’m free, free falling.”

          • Bob Smack

            MIley Cyrus will save us all, she is the god hindu demon god Kali reincarnate…

          • bluesky

            We’ll have Superman for president, let Robin save the day.

          • Blunderbuss

            Jethro Tull !! Did anyone get that, or are we Thick as a Brick?

          • bluesky

            Most of them are thick as a brick, and I bet most don’t know what that means.

          • bluesky

            Kalifornia?

          • TheHolyCrow

            My ex-wife said she was the god Kali reincarnated.

  • K

    The continuing war on America, by the puppet masters is on course. You say those words are too strong? From the economy, to the southern boarder, to the coal power plants, to common core. Everything that was America, is under attack. If any obvious outside group or Country had done this. We would have declared war long ago. Until people are willing to see, this is no mistake. This is not stupid people doing stupid things. But a long term plan, that has been underway, for quite some time. Then nothing can change. The Government has totally sold out, and yes that means both political parties.

    • Bill

      Very true.

    • apeiron

      Couldn’t agree more K; you wouldn’t believe the scoffing when I even hint at this in certain circles … or maybe you would

    • bluesky

      I’d say not strong enough. We are under attack, and the sheep can’t see it. We were under attack before the ink dried on the
      declaration of independence.

    • frank1569

      It’s not a ‘war on America’ by ‘the puppet masters.’ Said puppet masters do not care about country borders – all they want is more wealth and a passive populace. Period.

      Our only defense: stop giving as many of the psychotically greedy yer hard-earned pennies. We can’t boycott em all, but without our money, Too Big To Care corporations die. If the majority of depositors said ‘enough’ after B of A was punished with another $17B criminal fine for ‘knowingly defrauding’ millions of customers, there would be no B of A. Instead, we bitch for a few minutes on the way to the ATM to deposit a check…

      In a rigged economic system 70% supported by over-consumption, money is our only weapon of revolt. Spend-to-change or shut up.

    • VegasBob

      Absolutely! I watch in disbelief as so many friends and acquaintances are getting “ready for Hillary.”

      Now there’s a woman who is pure evil.

    • mountaingypsy

      The last sentance says it all! Both parties and congress, all the alphabet agencies, are slowly killing this country. They make laws and start wars to suit them. It is all about their votes/jobs, control of us dummies.

  • CRAT

    Michael:

    Why don’t you talk us through what will happen as the bond/debt bubble bursts?

    • Tim

      Nobody knows exactly what will happen. What we can be sure of is that it will cause a significant drop in the standard of living in this country.

    • Richard

      That is part of the nightmare we all will experience . It will be here soon enough so you will know firsthand. You will not need some one to tell you.

      • JF1962

        A lot of variables we will have to deal with, and then figure out how to survive.

        • Richard

          Amen.

  • XSANDIEGOCA

    By 2024, the Social Security “Trustfund” will be exhausted. Medicare is in worse shape than Social Security. It is estimated that to maintain current spending levels that government spending as a percentage of GDP will have to rise from 24% to 30%, permanently. Ask yourself what the impact of a 25% rise in your taxes would do for you? The only solution I can fathom is that we must grow our way out of it. Where is the growth to come from? The only area that I see that can possibly provide the jobs and revenues necessary is Energy. I mean the Apple Watch is cute but the IPhone is quite sufficient, thank you very much. Consider, the current flood of Third Worlders will be a net drain on the economy for the next 20 years. No growth there. There are 75MM Baby Boomers and they are retiring en masse. If anything, they are going to downsize. No growth there either. Indeed, the demands of the Boomers for SS and Medicare will increase exponentially and very quickly but the ability of the system to provide is very doubtful. Even now I sense a reluctance by my medical providers to perform routine procedures unless they are absolutely necessary. Rationing? It’s here. Our college graduates are having difficulty finding good paying work. This will become even more difficult after Amnesty, which will occur after November. Ergo, we must frack or face collapse. Nothing major on this front will occur with the current occupant in the White House. We must hope we can survive the next 858 days without a cataclysm. Righting the listing ship will take a decade and require harsh measures and that is the best case scenario.

    • MHavoc

      Unfortunately, energy “growth” won’t be a savior either because the EROEI is dropping. The only thing that keeps the U.S. afloat is the acceptance of our currency as the petrodollar. As long as Saudi Arabia uses our military forces as their mercenaries, they will continue to require all oil transactions be denominated in U.S. dollars.

  • alan

    I sort of feel relived it was only a trillion and thats sad.
    Remember there is still a lot of money in 401k to be plundered.
    I don’t think its going to be over any time soon. They have done well so far to paper over everything. The media is working over time to keep us distracted.

    • Mike Smithy

      The “Bail-in” documents for the USSA have been drafted and ratified. Just like Cypress, the sheep will wake up one day and realize that their currency in the bank has been plundered and replaced with worthless IOU bank stawks.

  • Tim

    Chapter 12 of Chris Martenson’s Crash Course video series is entitled “How Much is a Trillion?” In it he shows just how big of a number one trillion is. He states that one trillion in $1,000 bills stacked on top of one another–not laid end to end–would reach over 67 miles high! That is mind-boggling. And that’s just one trillion. The U.S. national debt is approaching $18 trillion. And, as this article mentions, we have much more than that in unfunded liabilities.

    This debt bubble has gone on much longer than I ever imagined it would.

    • Mudpie

      Jim Rogers, investment analyst, is spot on when he says one can predict the outcome, but getting the timing exactly right is nearly impossible. But no doubt it is getting closer and closer.

    • neal

      Maths with money is both fun and terrifying. The global derivative market is one quadrillion dollars. Here is a puzzle to test peoples understanding of how much that is:
      If you had stacks of $100 notes in lots of 3 million dollars (feasible to carry weight wise) and walked at 4mph (a brisk walk) and started laying those 3 million dollar stacks end to end from your front door and down the street (returning to your front door to get the next stack). If you started at 9am on Monday on what time and day would you finish?
      A: Never, you would die of old age first as it would take 6 billion years of continuous walking..
      When the global financial markets pop the contagion will make the US debt also take 6 billion years to sort out.

    • mleblanc138

      In hundred dollar bills:

      Lay down a standard pallet and stack hundred dollar bills evenly until the stack is about 3 and a half feet high. That’s $100 Million. Ten of these pallets is a Billion. A 10×10 grid of these pallets is 10 Billion. Now keep stacking 10×10 grids until you have a literal tower of money made up of 100 of these 10×10 grids stacked on top of each other. That’s a Trillion and the tower is taller than the real life Statue of Liberty. Now envision the Statue of Liberty surrounded by 17 of these towers.

  • patriot alice

    If you want to run the country businesslike, then we need to elect business people in all our elections. The problem? People like Romney, Trump, etc,,don’t do very well in elections, politicians have the edge because running for office is a political game. By the way, if I had my way, I’d cut taxes 33% across the board and adjust spending drastically. It’s the only way to get back on track. We are presently on a path of financial, cultural and political destruction. Let’s elect business people even if they don’t have the Obama like personality ..Trump lacks the politician personality, but he’s make a great President if you want to fix our economic problems. If you want personality, then continue to vote as you have been voting..

  • patriot alice

    If you want to run the country in a businesslike manner, then we need to elect
    business people in all our elections. The problem? People like Romney,
    Trump, etc,,don’t do very well in elections, politicians have the edge
    because running for office is a political game. By the way, if I had my
    way, I’d cut taxes 33% across the board and adjust spending drastically.
    It’s the only way to get back on track. We are presently on a path of
    financial, cultural and political destruction. Let’s elect business
    people even if they don’t have the Obama like personality ..Trump lacks
    the politician personality, but he’d make a great President if you want
    to fix our economic problems. If you want personality, then continue to
    vote as you have been voting..

    • Black

      Trump? How many times has Trump gone bankrupt? How many times has Trump been bailed out? Trump?! And Mittens? Born on third base and acts like he hit a triple

      • Mike Smithy

        Excellent points.

      • Daddyotis

        To be sure, nobody’s perfect. However, both Trump & Romney have business experience and the current WH occupant has zero experience. I might add that although Trump has been through a number of bankruptcies, this is what happens when businesses can’t make ends meet. The US govt is a different story, and has it a lot easier. They can just print more money to cover these things. So… to imply that the current WH occupant is somehow “better” at running the economy based on the fact that said govt has not declared bankruptcy is laughable.

        • Gay Veteran

          the Republicans and Democrats are two sides of the same coin, and you are given the ILLUSION of choice

  • Selaretus

    Official US Governmental financial policy is as follows: Anything goes and nothing matters

  • toadsticker

    That graph looks like a hockey stick to me. The stimulus would have been more fair if they had dumped the money out of airplanes as they flew over the country.

    • Joe Kleinkamp

      Might have actually accomplished something too. If it was used toward help with student loans or mortgages or any other way to get it into the hands of consumers who would then actually do the stimulating of the economy with some disposable income to boost demand for goods and services. What we got instead was “oh well, we found out those shovel ready jobs weren’t quite so shovel ready, chuckle chuckle, so let’s just give all those hundreds of billions to the banks responsible for the problems we’re facing in the first place.” Brilliant!

  • Raymond Jensen

    The global warming peddlers like to tout their “hockey stick” chart. Here’s a real “hockey stick” for you.

  • DJohn1

    It just goes to prove what I have said all along.
    There is no relationship between how hard you work and what you receive for that work.
    We pay those Congressmen huge salaries to do nothing but argue with one another and get absolutely nothing done.
    They belong to the parasite class. That is they are bleeding the host(us) to death slowly but surely. That is what that class of people do.
    Lawyers, Doctors, Banksters; all belong to this class and rip the public for all they are worth. There is no resemble between what they make and how hard they work.
    So we are head over heels in debt. What else is new? This has been going on for an incredibly long time.
    Putting a businessman in charge? Not really. What we really need is a multiple talented individual. Because the next President of this country has one big problem straightening out the rule of that person’s predecessors.
    We are on the verge of a war of terror with ISIS.
    The idiots in charge are all for it. Why? Because they intend to walk off with what is left of this coiuntry’s assets.
    Then they will move on to some other place.
    We are on the verge of a world wide plague. Why? Because some idiot took down our border with Mexico and many people are entering this country without supervision. That means they bring anything they are infected with as baggage. So the rest of us get their baggage allong with them.
    We are also bringing the same terrorists over the Mexican Border that will eventually bring that war home to us in our own country.
    We all know the IDIOT I am referring to.
    But there is a system of checks and balances with the Congress and the courts. It used to work when the Congress actually did its job.
    We all eventually end up broke. Why? Because we have a Medicaid system of health care. It doesn’t kick in until you use everything you have ever owned over an entire lifetime.
    They will set aside money to bury you with.
    That is your fine set of lawyers in Congress at work. Don’t bother working for more than your weekly support. Because it all goes up in smoke when you get your first major disease and have to spend time in that death trap they call a nursing home or hospital.
    I call them death traps. Why? Because despite being a modern sanitary environment the germs overcome them.
    The average person in that place has to have IVs. Or they are sitting around at approximately 7,000 a month in what is essentially a hotel with maid service.
    Doctors designed and run hospitals for profit. They often eat that large fee because they break the individual financially while making them well enough to possibly go back to work.
    Until we change the system to something much better, the working person is being messed over big time.
    This same group voted for Obamacare. Clueless does not even begin to described what is going on to bankrupt small businesses and working people everywhere.
    Those trillions of dollars owed? The RICH are going to eat it one way or another. What are the alternatives to the debt?
    Pay it back with devalued dollars!
    The RICH own those dollars.
    Those dollars will be worth roughly 1 cent on the dollar when the crash eventually comes.
    The working class does not have the wealth to do anything about it. They will go broke losing everything they have ever owned.
    The RICH will go somewhere with a stable currency at that point in time. Prime on the list is Switzerland. The IRS has been battling folks from Switzerland for a long time with no real success. The RICH used to stay citizens here until being a citizen here proved to be more than it was worth. Now they switch to other country citizenship to avoid paying taxes and having the IRS have any control of their accounts. So they leave us with the debt to pay.
    They are not alone. Half of the royalty of the Arab nations have their families in Switzerland. Most move there eventually when they get out.
    Humpty Dumpty had a great fall. All the king’s men could not put Humpty back together again.
    Well, we working folk do not have that far to fall.
    But in other articles a whole lot of bankers are taking that fall by dying or committing suicide when they learn the extent of the real truth.

  • Firstgarden

    If global bankruptcy occurred, then everyone would have to live within their own means for a while. Maybe that’s not such a terrible idea.

    • Richard

      Live within their own means? – Would mean Death for the masses in Global Bankruptcy.

      • Tony

        So what do we do as individuals to plan for the inevitable?

  • Mudpie

    It is coming. One does not have to be biblical – I am not particularly so – to think a day of economic reckoning is on its way:

    “Behold the pale horse . . . The man who “sat on him was Death… and Hell followed with him”

  • Bob Smack

    I just wish the banks would give me an unlimited debt ceiling credit card like they give Washington DC :-(

  • John Francis

    Living in present day America often reminds me of an intelligent child living in a beautiful home – he sees that his parents are drinking heavily and getting way behind on their bills, not managing their finances wisely – he is alarmed, but can’t get through to his parents. He knows that the good life is coming to an end even though his parents party on.

    Congress with its 8% approval rating and president Obama with his 38% party on, but intelligent, thoughtful people everywhere know the gig will be up soon.

    • Firstgarden

      Time for another game of golf.

  • Firstgarden

    “This just in..

    “Since the US had officially defaulted on its credit obligations, sending all markets, globally, into the throes of complete financial collapse, it has been learned that the nation’s wealthiest had long renounced their American citizenship and have already moved abroad. There, they have stockpiled massive amounts of gold and other mineral assets, and enormous real estate holdings, paid in full.

    “The world looks on in wonder as they pick up the pieces of their destroyed economy, while enduring food riots, looting, door-to door-robbery, and the strictures of martial law.

    “Meanwhile, our expatriates live most opulently in their virtually tax-free, private island paradises with gated communities, mansions, golf courses, fleets of Rolls Royces, yachts, and all their hearts could desire.

    “They wish to convey their gratitude for all the toil, sweat and sacrifice of the masses, both in the US and abroad, which hade them so obscenely wealthy. Alas, the new American Dream.”

    • patty

      I live in Central America, not high on the hog. Peace and quiet, natural environment, monkeys come down from the mountain to eat the fruit. Above ground (read free) pvc water pipes. No chlorine, no flouride. Fresh fish off the boat. Hormone free chicken. No beef to speak of! Hoof to plate. Must marinate for a day or so. Still enjoy Netflix, Skype, cable (ABC, CBS, HBO, CNN in English, download from internet and kindle books, free water from the mountain, no a/c, landline for about $150 a month, no mortgage, acre of land. Pineapples, coconuts, lemon trees, other exotic fruit. Work my butt off taking care of it all. 61 and a widow. It is worth it. Our forefathers left for a better life. Don´t blame me.

      • Tony

        Patty, I wanna be your neighbor!!!

      • Denise

        Can I come visit? 😉

  • grumpyhillbilly

    We living in a fascist bubble. The corporate titans that are in cahoots with both parties, and they are currently running a raping and plundering contest amongst themselves. They don’t care about what’s left. All that matters is where they are on the Forbes most richest list.

    The politicians are beyond repulsive in this. But as long as they have a healthy PAC, the who cares mentality wins out. We’re so doomed, but fortunately the dumbing down education may make the future generations too stupid to understand.

  • Watchman

    Could not be more happy.

  • Johan Rebel

    I have never completely understood the relationship between the deficit and the debt: how (in detail) can it be possible that the debt generally expands by significantly more than you would expect by adding the deficit to last year’s debt?

    • Nobleharbor

      Interest on the debt +
      “Printing” more…

  • jsmith

    Any predictions on what one ounce of gold or silver will be worth when the Dollar hits zero? Maybe Michael will have an article on this.

    • Joe Kleinkamp

      If the dollar hits or even gets close to zero the value of gold and silver will have to be measured relative to a different currency. Food? Water? Kerosene or propane? Bullets? Probably all of those things.

  • davidmpark

    Mike, there is some good news.

    I’ve been petitioning and negotiating with many local interests and candidates. Starting with a blunt and honest assessment of our unique situation. Summed up with a simple conclusion that our obedience to the laws has actually caused an excessive hardship.

    Well, this has lead to an interesting debate between commercial and non-commercial production. Commercial being concerned with or engaged in commerce; non-commercial is not having a commercial objective; not intended to make a profit in the marketplace – the profit and consumption done by the producer. The idea of legalizing non-commercial production for welfare recipient households instead of increasing welfare payouts is gaining ground. :)

    The bigger part of the debate is legalizing anaerobic digestors for those chronic HEAT recipients. Last year, the legislature struck down fireplaces as a primary heating source to combat air pollution. This meant that natural gas become a near monopoly and those homes that still use wood stoves would have to rely on a shrinking HEAT program. So, the idea of supplementing or replacing constant handouts with an enclosed unit that produces methane gas is very enticing. Only safety issues need to be worked out.

    Another hot issue is the possibility of legalizing milk goats for urban welfare recipients. I sent in a lot of information on dual usage pygmy and dwarf goats to all agencies and they are giving it serious consideration. The noise, odor, and space requirements are the daunting problems right now.

    This is good news. There could be more liberty for those who truly need it to support themselves without asking for handouts from able body and minded hard working people! Win-win! :)

  • Learning the Hard Way

    They will not get it until the EBT stops. America is morally and fiscally bankrupt. The consequences of their choices have yet to hit them.

  • homebody

    Yes but other countries are win worse shape – consumptive gluttony will save us – the economy will turn around – higher employment will lead to more taxes to save us – we can all live with 60%+ taxes because its fair to the poor and old. and the BS goes on. The sooner we take the medicine the less mass carnage will affect the country – if it will even survive at this stage.

  • liberalsaretotalexcrementnewol

    but, but, but, but, but, but, but, but, but

  • JF1962

    Maybe someone who is smarter than me can answer this question. I have talked with some buddies about this issue of the dollar collapsing or devaluing. I wondered if it would be possible that a mortgage company can raise the mortgage on my home (or anyone’s home, despite a contract) and claim that since the dollar has lost much of his value, they are demanding an increase of a monthly mortgage payment.
    Would this be possible? I wouldn’t put anything past the banks.
    Something is going to happen economically, there is just too much debt. I’m preparing my family the best I can.

    • jim

      I would say yes,the pimp in the white house has all the pimps in the mortgage business in his pocket.hussian barry obmer is the one causing the dollar collapsing..The pimp wants to bring this great country down.

  • FortuneSeek3rz

    The increase in the debt limit is necessary, but don’t worry. Due to the energy renaissance via fracking, the United States is on course to remain the world wide leader in GDP. There are currently about 25-30
    applications at the Dept. of Energy for LNG plants that will allow tankers to ship natural gas to the four corners of the world. The US will dominate the global economic landscape for years to come.

    • Johan Rebel

      Yeah sure, if fracking is profitable.

    • Gay Veteran

      “…Due to the energy renaissance via fracking….”
      ROFLOL, unfortunately those wells rapidly deplete

      • FortuneSeek3rz

        Ten years ago no one ever heard of fracking outside of those employed in the oil and gas industry. Now look at the explosion. People like you think they are informed but they aren’t.

        • Gay Veteran

          and yet you didn’t rebut a single thing I said.

  • Ideas time

    For what it is worth the debt is just numbers in a computer and the money is fake monopoly money with no real value anyway. The good news is the debt is fake and owed to a tiny fraction of the population and given the fact that it was taken by fraud it should all be voided. They to honor money owed to the people who worked their who life for, the assets of the 1% who stole the money not the ones who earned it should have to forfeit them to pay back the people.

  • GSOB

    Watch out for Hillary…..and/or Biden.

    The USA rules the world by brute military force and by funding the global currency.. petro-dollar.

    ISIS is a threat to the USA, it’s way of life.
    This ruthless enemy is looming on the horizon…. 31,000
    ragheads,… and gaining strength in numbers everyday.

    War reeks havoc to an economy and the debt also…

    Our leaders are going all out.

  • mar1950

    “What we are doing to future generations is absolutely unconscionable. We are stealing trillions upon trillions of dollars from our children and our grandchildren, and we are willingly consigning them to a lifetime of debt slavery.”

    I don’t think so. The debt will be force liquidated (defaulted on) the $ will be gone and everything will be repriced in terms of gold and silver.

  • jim

    This pimp hussian barry obmer is killing this country.The lazy pimp keeps printing money,and taxing the true American workers.Giving it to the other pimps like that don’t work.

  • Charles

    Debt slaves are easily trained into domesticated farm animals.

  • Fern Galooth

    What’s the problem ? As long as the populace can’t tell the difference between heads and tails, there is no problem. Just keep the SS checks coming, keep the EBT cards filled, print government checks to fulfill medical obligations, whistle past the graveyard and hope the catastrophic inevitability doesn’t happen on your watch. Things could not get any better. Especially, if you are old. Thankfully, I fall into that category.

  • Kristen Marie Embler

    We are already way worse off than Greece ever was.

  • Kristen Marie Embler

    It will be underway shortly. The streets are going to be pretty ugly soon.

  • gc5656

    Religion is regarded by the common people as true, by the wise as false, and by the rulers as useful.

  • jackmur2012

    Obama just recently gave $33 Billion to Africa. He said that he wanted to invest in their future. This is just a metaphor for all the taxpayer money that he generously hands out to all of these countries. It is understandable that people now say of him that in 100 years they will ask what were Obama’s accomplishments on his watch. The answer comes back that he was the first Black President. I don’t get it or him……. The Federal Reserve and its owners (Rothschilds) call the shots in this Country. What are these guys up to?

  • erik-da-red

    NBA Arenas are full; NHL rinks are packed; NFL cup runneth over..
    everywhere people are spending money on entertainment – how do they afford it?? Even NFL finale tickets in Arizona costing thousands of dollars were snapped up in no time,

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