Too bad the MSM keeps mis-reporting the actual amount the US is in the hole. But I guess it's just too much trouble to report the truth.
It's not $9.3 trillion as Katie Couric and every single other MSM report I've ever seen would like you to believe. If only it were such a pittance. No, per the General Accounting Office, it's $53 trillion. But shhhh.. don't want that number to get out!
From the GAO report, for all to see, but for the MSM and sheeple to ignore:
As discussed earlier, federal debt managed by the bureau totaled about $9 trillion at the end of fiscal year 2007.
However, that number excludes many items, including the gap between scheduled and funded Social Security and Medicare benefits, veterans’ health care, and a range of other commitments and contingencies that the federal government has pledged to support.
If these items are factored in, the total burden in present value dollars isestimated to be about $53 trillion.
April 05, 2008
The MSM and our leaders don't want you to know how deep in the hole we truly are. It's not $9 trillion folks. It's $53 trillion and growing.
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25 comments:
Thank you Keith. I think people will finally start seeing what is being done to our country. I think this really opens up people's eyes to see what exactly the United States has been up to. WAKE UP PEOPLE!!! Now you see that this debt we have is very very real!
I'd rather owe it to you than cheat you out of it.
This is what keeps me up and night - thinking about the government debt my kids will inherit and the challenges they will face as a result.
It makes a really good case for just bugging out of the US and starting a new life somewhere else - similar to what my grandparents did when they came to the US years ago.
How much does the US need to borrow in order to prevent it from defaulting? It's not 53 trillion and it's not 9 trillion either. It's only around 5 trillion (4 trillion is borrowed from social security)
In terms of Gold/Natural Resources the debt has decreased not increased over the last 10 years. If anything, the US will be forced to deregulate mining and drilling to become a producer nation instead of a consumer nation.
Keith & HP'rs -- gotta see one:
FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution:
http://video.google.com/videoplay?docid=5232639329002339531
Excellent history of Fed -- what it is, how it operates. We most definately are f'd.
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Ooh! Dat alot o money!
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Scary. I dont believe that this can go on forever.
Also, he said something that worries me for a long time. The money you borrow today will have to paid by your sons tomrrow. Im 29 and I belive that my fathers generation is the most selfish and reckless ever.
I saw the GAO report on Faux News, so it must be a lie. Do you idiots really believe everything that is reported on Faux?
I'm still wondering why Americans are spending tens of billions of dollars growing grass instead of fresh fruits and veggies on their property. No doubt people are spoiled and stupid.
They don't care about debt, they plan on merging with Canada and Mexico. They will offer the solution when we have no other choice and beg for it.
Welcome to the New World Order
I thought everyone wanted a nanny state to change their diapers? Did you expect it to come free? When someone retires at age 65 and becomes a useless eater until age 85, that is going to be very expensive. There are 80 million baby boomers ready to retire and become consumers who produce nothing.
Why would Canada merge with the US? It has incredible natural resources while the US is tapped out. Doing that would mean spreading the wealth out very thinly given the greater population in the US.
We Americans have nothing to worry about. The rest of the world will still buy our I.O.U.'s (i.e. treasury bonds) and this can be used to finance any expenditures that we need. The buyers will get their principle and interest back guaranteed with the full faith and credit of the U.S. government. So Keith and all other H.P.'ers/doom sayers, things are that bad. Now go back to your mothers' basement.
Of course the debt is real. Jeesus people get real....this isn't your check ledger here.
Most of you would piss your pants if you were even given just 1/2 the insight into what makes this county work.
This isn't just an american thing..it is a modern culture thing. Do you really believe we are going to be the biggest loser? The problem today is that most people look out their window and think this is the whole world. It is NOT. Things are far more complicated than you would even imagine.
Sure, protect yourself but don't sell us out so fast...things are going to happen but it will happen to ALL of us.
We are already global.
"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816.
"Then I say, the earth belongs to each of these generations during its course, fully and in its own right. The second generation receives it clear of the debts and incumbrances of the first, the third of the second, and so on. For if the first could charge it with a debt, then the earth would belong to the dead and not to the living generation. Then, no generation can contract debts greater than may be paid during the course of its own existence." --Thomas Jefferson to James Madison, 1789.
anon: April 05, 2008 9:49 PM
"When someone retires at age 65 and becomes a useless eater until age 85, that is going to be very expensive."
I went down to Florida recently and this was my thought exactly. I can't help but feel resentful when I see all these people living off my hard work knowing full well that it won't be there for me.
Argentina HERE WE COME!
Oh pshaw. Soon the Deficit Fairy will ride in on her magic pony and make it all go away.
Dick Cheney told me so.
WOW is like a GIANT CREDIT CARD with unlimited FUNDS.
OUCH!
Wait a minute that's exactly what it is.
Anonymous said...
“Most of you would piss your pants if you were even given just 1/2 the insight into what makes this county work.”
Given that the BH’s saw the writing on the wall about housing and the effect on the economy, I’d say we have a good inkling into what makes this country work. First and foremost….greed. But sooner or later, either financially or by law, the debt must be repaid.
Politicians, salesmen, and lobbyist would have you to believe:
“Things are far more complicated than you would even imagine.”
It’s not.
Yup, but Clinton balanced the budget, right? We heard Gore say it, Kerry say it, and Hillscary say it to suit their purpose.
Whats that? Even with this basic accounting, the national debt has gone up EVERY year since before Reagan? How can that be?
What the hell is the matter with you HP'ers? You guys are so freaking negative! Get a grip you idiots.
Everything will be fine. America has the biggest economy in the world and the largest consumer market. The rest of the world relies on this SUPERPOWER. We are at the center of the world's economic system.
Yet you fools think we will enter a Depression and America will end up like Argentina. You guys are so pessimistic on America it is so silly. Now go back to your mothers' basement.
Eric said...
anon: April 05, 2008 9:49 PM
"When someone retires at age 65 and becomes a useless eater until age 85, that is going to be very expensive."
I went down to Florida recently and this was my thought exactly. I can't help but feel resentful when I see all these people living off my hard work knowing full well that it won't be there for me.
Useless Eaters??? BWHAHAHAHAHAHAHA
Why exactly do you think you are useful? Because you are young? Because you get a paycheck???? BWHAHAHAHAHA
Well, if old people make you resentful just wait how resentful you get when everyone around you that is working for a living and who bought their granite, their hickory floors, pools, and all other useless junk on the HELOC, now expect you to bail them out. hahahaha
What exactly do you do for a living that allows every old geezer in Florida to live off of your hard work???? Actually, companies are begging those at retirement not to do it, because GEN X/Y are so self absorbed, conceited and undereducated that companies are terrified of having to count on them.
I think you are about as useful as a boil on the ass of a marathon bicyclist.
JaneZ
I didn't agree to waste all that money. I repudiate the debt. I have a passport and I suggest you all get one too
I am not a slave
That is the beauty of inflation. It makes your giant debt tiny, and you can give billions to all your freinds! Wheeeee!
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