OldManOnFire

The MOMENT that I checked the US government's debt clock today it said $9,375,361,370,303. This is 9 trillion, 375 billion, 361 million, 370 thousand, and 303 dollars. For every man, woman and child in the USA, their share of this debt is $31,251.

There's over $7 trillion in home mortgage debt.

There's $500 billion in credit card debt.

The average new car debt is $25,000.

The average college graduate has $18,000 in student loans.

And if this is not enough, nearly every state and major city is having serious financial difficulties. I think in my state of CA the current budget shows a $15 billion deficit. In CA the City of Vallejo, population of 120,000 just filed for bankruptcy protection.

Some have calculated that the US total debt, including household, business, financial and government is in the range of $53 TRILLION!!!! For every man, woman and child in the USA, their share of this total debt is $176,666.

In order to survive the next fifty years, the USA along with it's people and businesses, need to come up with TRILLION$ more to deal with alternative energies, oil dependence, education, global climate changes, health care, social security, the infrastructure of roads, bridges, railways, waterways, and airports.


Call me a simpleton if you wish, but whatever fiat money system we claim to use, when you consider the numbers above, the system is totally out of control! I say it is impossible to pay off much of this staggering debt. And we need trillion$ more in the future. And who is caught in the middle of all this BS...US citizens!

This system is a complete joke! There is no rationale! It is out of control! A complete paradigm shift seems necessary in order not burden average Americans within a money system that is antiquated!

BTW...in the time it took me to research and write this article, the US debt climbed to $9,375,390,417,843...over a $29 million increase in just minutes!

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Did you know both our problems and the solutions can be found simply by looking in our mirrors...and...Never confuse the extraordinary stuff I think and write with that of a well-balanced person...

Kanadesaga

Every party has a pooper and that's why we invited you.

Party pooper, party pooper.

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jdanton

Now he knows how Jor-el felt when he was trying to convince the people of Krypton that the planet was about to explode.

I join with the Old man on fire.

Clinton was the only president of my lifetime what actually did get a handled on our national debt and begin to bring it down.

That debt is literally dwarfed by today's debt.

Has anyone given any thought to what happens to our economy when the national debt hits 10 trillion? I fear an awful lot of shit will hit the fan, and a lot of chickens will come home to roost.

Meanwhile, we keep hearing plans on what to do with the money we stop spending in Iraq as we withdraw, ignoring that fact that it's all borrowed money.

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Author: Memoirs of a Sleepless Mind, a book you CAN judge by its cover.

OldManOnFire

Yesterday on NPR, a panel discussed a zillion reasons why the USA will not leave Iraq for at least two years...and they said this holds true no matter which party is president.

It is my guess that having 160,000 US soldiers in Iraq costs no more than having 160,000 US soldiers stationed anywhere in the world. If someone thinks this in incorrect I would love to hear the reasoning??

So it's my contention that withdrawing US troops from Iraq will not reduce the budget by a penny.

__________________
Did you know both our problems and the solutions can be found simply by looking in our mirrors...and...Never confuse the extraordinary stuff I think and write with that of a well-balanced person...

OldManOnFire

I'm the last person who would be invited to any party on this website!!!!!

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Did you know both our problems and the solutions can be found simply by looking in our mirrors...and...Never confuse the extraordinary stuff I think and write with that of a well-balanced person...

jdanton

I don't think it's the cost of the troops so much as the private contractors; both the military type and the construction type.

Either way, whatever we're spending, we are borrowing.

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Author: Memoirs of a Sleepless Mind, a book you CAN judge by its cover.

OldManOnFire

Can anyone quantify private contractor expenses?

The construction types might stay there for years.

Military types might be eliminated or just hired to represent the US in another nation??

Part of the reason for private contractors is because there are not enough US troops of which Obama wishes to increase the US military by 100,000 troops.

In reality, whether it's Iraq or another nation, and with both McCain and Obama wishing to increase the military, and guessing that there will be continued use of private contractors, does anyone really see the military budget being reduced??

I think if anyone believes they are going to fund something by reducing military expenses, I think they need to reassess their reasoning...

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Did you know both our problems and the solutions can be found simply by looking in our mirrors...and...Never confuse the extraordinary stuff I think and write with that of a well-balanced person...

Veronica

I don't think in other countries we pay the opposition not to shoot at us. These bribes are coming out of our taxes. As well as the cost for medical care from wounded and disabled soldiers. This is not a cost we would spend in say Germany. The cost of replacement equipment that gets blown up is also something you are not factoring into the equation. I am sure there is a myraid of costs associated with the occupation that would not exist in other non combat zones.

jdanton

All good points here. It would make for an interesting discussion on one of the talking head shows, so, of course, it won't happen.

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Author: Memoirs of a Sleepless Mind, a book you CAN judge by its cover.

Ptech

I think the House of Cards is fixing to collapse.