U.S. Debt Tops $14. 3 TRILLION for first time

[expat_panama]

Eh... The debt that government owes to itself is as real as any.... Just because there is some agency in between the trade doesn't mean much. If Government collected SS checks and spent the money, it still owes the people... People are waiting to get those checks and if the debt is denied as debt, then you also have to say the checks these people are waiting(and which are owed to them) don't exist.

Thanks for clarifying what the chart is though. 14 trillion is the right number here though.

Total assets of USA = 78 trillion? (this is according to debt clock)...

Eehhh (sorry something fell out of my nose too, must be going around here)

Which debt clock you talking about, the National Debt Clock, the US Debt Clock? Either way it's going to someone to tell you what the facts are instead of going to the facts; but hey, that's politics! People maried to doom'n'gloom can be right at home.

Money/business is different. A valid market price means payment and a vague argument means a lost sale; and when I write myself a check I got a liability and an asset of equal value, added together they add nothing to net worth. With the treasury the unfunded liabilities matter only if the unrealized gains matter also, they're not something you can say don't exist. People married to doom'n'gloom don't last very long managing money.

 

[expat_panama]

...check the 'Debt to the Penny' page you will notice that under democrat control of congress we were adding $100 billion to the debt every 22 days. Since the republicans took control January 1, 2011 that rate has slowed dramatically. Also for the first time since the Census workers were laid off we started to add jobs after the republicans were elected to congress.

Like I always say, facts are our friends.

 

[sparky]

so how many of you are willing to put $$$ on these fella's managing our debt?