Debt Hit $13 Trillion!!! Spend Baby Spend!!!

[Terry Shoeman]

Does ANYONE know WHO is in charge of TAXing Goods Manufactured OUTSIDE the USA ???

WHY ARE WE DODGING THIS ISSUE ?

 

[KissMy]

the debt crested thirteen trillion in june.

It hit $13 Trillion on May 26th, 2010. At the current rate it will hit $14 Trillion in 66 days.

 

[antagon]

treasury direct's to the penny shows it crossing the $13T mark between may 31 and june 1, but unless someone's cutting me a check for the difference, its all under the bridge and rising fast.

TreasuryDirect

 

[antagon]

Does ANYONE know WHO is in charge of TAXing Goods Manufactured OUTSIDE the USA ???

WHY ARE WE DODGING THIS ISSUE ?

history and wisdom.

 

[KissMy]

Here is a new feature added to the debt clock that will scare the hell out of you. It is an actual calculation for 5 years from now based on current rates.

It is called On This Day in 2015 at current rates.

In 5 years at current rates the National Debt will be $24 Trillion, Unfunded Liabilities will be $124 Trillion & Unemployment will climb because the workforce will only climb by 2.7 million while the population grows by 16 million. That means 1 new job for every 6 new citizens.

 

[loosecannon]

This cannot be sustained. Something must fail.

 

[Oddball]

 

[finebead]

Much of the problem with the deficit is the loss of revenue in income taxes due to all the people who lost their jobs after the irresponsible repub admin over stimulated the housing market in 2004-2006.

see 2009 and 2010.

Repubs doubled the defense budget from 2001 - 2008 if you include the special war expenses, then there was the repub medicare drug coverage plan that did not allow medicare to negotiate volume discounts on the drugs, a true bone to the big pharma CEO's. Obama got a $80 billion discount in the healthcare bill, but off of a $720 billion first 10 year tab (WalMart could have done better).

 

[KissMy]

This is the kind of shit that is dragging our country down!

Arizona pension funds: 8 officers got pension, paycheck

...Arizona police officials received large deferred-pension payments when they retired, then went back to work for the same employer, allowing them to collect a paycheck and a retirement payout...

When Harris retired, he received a lump sum of $562,964 from the Deferred Retirement Option Plan. He now receives a $193,378 annual salary in addition to his $95,716 annual pension from the Public Safety Personnel Retirement System.

"It's an outrageous misuse of tax dollars," Fitton said.

Other law-enforcement retirees who participated in DROP and continue working:

- Richard Miranda. The ex-Tucson police chief is now the city's deputy city manager, whose responsibilities include overseeing the police department. He got $511,570 from DROP in June 2008. Salary: $166,941. Pension: $134,054.

- Jesse Locksa. The ex-Maricopa County Sheriff's Office deputy chief is now a dispatch commander. He received $576,463 from DROP in January 2007. Salary: $70,969. Pension: $97,890.

- Timothy Overton. The ex-Maricopa County Sheriff's Office deputy chief is now a forensics commander. He got $445,518 from DROP in August 2007. Salary: $70,969. Pension: $75,186.

- Gerard Sheridan. The ex-Maricopa County Sheriff's Office executive chief is now acting chief deputy. He got $440,441 from DROP in November 2008. Salary: $143,000. Pension: $77,239.

- Lawrence Black. The ex-Maricopa County Sheriff's Office deputy chief is now an administrator on paid leave amid an internal investigation. He received $386,955 from DROP in July 2007. Salary: $79,996. Pension: $64,089.

- Steven Werner. The ex-Maricopa County Sheriff's Office deputy chief is now an intelligence analyst. He received $365,272 from DROP in January 2008. Salary: $62,940. Pension: $62,261.

- Rollie Seebert. The ex-Maricopa County Sheriff's Office deputy chief is now a detention academy commander. He received $270,405 from DROP in November 2006. Salary: $82,894. Pension: $61,983.

 

[KissMy]

The National Debt just hit $13.4 Trillion Today. It is up $100 Billion in just 23 days. The speed of debt increase is accelerating, Gold is rising & The workforce is still in decline.

In addition to the debt the government is backing $5 Trillion of Fannie/Freddie loans. There are also $110 Trillion worth of unfunded government mandates coming due. All this Shadow debt is going to swamp the dollar. Government Debt to GDP ratio is 94.47% & rising. Government spending to GDP ratio is now 43.84% & rising.

Unless God is Willing and the interest rates don't rise, the opportunities to turn this country around before the impending crash are quickly being passed by. Once interest rates explode, all opportunities are gone & the USA will roll off the cliff.

The National Debt just hit $13.6 Trillion Today. It is up $200 Billion in just 47 days. The speed of debt increase is steady, Gold is rising & The workforce is still in decline. We have been under threat from the Federal Reserve that they will increase the money supply (print more paper money) by about a Trillion Dollars. This has caused commodity inflation. The Fed is going to wipe out a Trillion Dollars worth of debt with its printing press. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term effect on the economy.

The National Debt just hit $13.7 Trillion Today. It is up $100 Billion in just 22 days. The speed of debt increase is increasing, Oil, food & gold are rising & The workforce is flat-lined. The Federal Reserve increased the money supply (print more paper money) by about a Trillion Dollars. This has caused commodity inflation. The Fed is going to wipe out a Trillion Dollars worth of debt with its printing press. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term unsustainable effect on the economy.

The National Debt just hit $13.8 Trillion Today. It is up $100 Billion in just 22.5 days. The speed of debt increase is constant, Oil, food & gold are rising & the workforce has flat-lined. The Federal Reserve is printing more money to the tune of a $100 billion a month. This has caused commodity inflation. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term unsustainable effect on the economy.

 

[editec]

Have no fear.

The banksters will be okay.

Your parties the Democrats and Republicans will insure that they're okay.

As to the rest of us?

We don't matter.

 

[FireFly]

The National Debt just hit $13.8 Trillion Today. It is up $100 Billion in just 22.5 days. The speed of debt increase is constant, Oil, food & gold are rising & the workforce has flat-lined. The Federal Reserve is printing more money to the tune of a $100 billion a month. This has caused commodity inflation. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term unsustainable effect on the economy.

WOW!!!!!!!!!!!! The National Debt just hit $14 Trillion Yesterday. It jumped $200 Billion in just 32 days. That is 50% faster than previous increases. Our USA workforce is shrinking by 1 worker every 15 seconds. We are loosing a 4 jobs a minute in this country yet the government continues their 9.7% unemployment lie.

 

[editec]

Mission accomplished.

I think its safe to send the Republicans and Democrats home now.

They've done the deed, the nation is broke.

 

[Samson]

The National Debt just hit $13.8 Trillion Today. It is up $100 Billion in just 22.5 days. The speed of debt increase is constant, Oil, food & gold are rising & the workforce has flat-lined. The Federal Reserve is printing more money to the tune of a $100 billion a month. This has caused commodity inflation. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term unsustainable effect on the economy.

Gold....meh.....the price seems to have flattened

But I agree that most other commodities will see huge price increses in the next year.