Invisibleflash
Diamond Member
I got this quote in red off a forum I used to be on but left due to mod harassment. I didn't bother to check them out for accuracy. We all know the USA has lots of debt.
I ran across a bunch of old ads from the 1940s asking people to buy savings bonds. Wow, they must have really balanced the books back then. No monkey biz. Now all they need to do to create trillions is punch a few keystrokes on the 'puter. It is all smoke and mirrors.
Does size of US debt matter anymore? I mean if the National Dept was really $37 Trillion or $52 Trillion or $152 Trillion...what does it matter? The gov will create more phony money to pay the interest, never pay the principal and on and on.
Now if it does matter, at what point will we pay the proverbial price?
Here's the latest from the U.S. Debt Clock.org: https://usdebtclock.org/#
National Debt: $27.2 Trillion ($218,452 per tax payer)
U.S. Federal Spending: $6.6 Trillion
U.S. Federal Tax Revenue: $ 3.4 Trillion
Total U.S. Debt: $85, Trillion
U.S. Total Interest Paid: $ 3.8 Trillion ($15,159 per adult)
Student Loan Debt: $ 1.7 Trillion ($39,377 per student)
Unfunded Federal Liabilities: $155.5 Trillion. (Liability per citizen $470,399)
State Debt: $1.2 Trillion
Credit Card Debt: $962,257,621,224 ($6,072 per holder)
I ran across a bunch of old ads from the 1940s asking people to buy savings bonds. Wow, they must have really balanced the books back then. No monkey biz. Now all they need to do to create trillions is punch a few keystrokes on the 'puter. It is all smoke and mirrors.
Does size of US debt matter anymore? I mean if the National Dept was really $37 Trillion or $52 Trillion or $152 Trillion...what does it matter? The gov will create more phony money to pay the interest, never pay the principal and on and on.
Now if it does matter, at what point will we pay the proverbial price?
Here's the latest from the U.S. Debt Clock.org: https://usdebtclock.org/#
National Debt: $27.2 Trillion ($218,452 per tax payer)
U.S. Federal Spending: $6.6 Trillion
U.S. Federal Tax Revenue: $ 3.4 Trillion
Total U.S. Debt: $85, Trillion
U.S. Total Interest Paid: $ 3.8 Trillion ($15,159 per adult)
Student Loan Debt: $ 1.7 Trillion ($39,377 per student)
Unfunded Federal Liabilities: $155.5 Trillion. (Liability per citizen $470,399)
State Debt: $1.2 Trillion
Credit Card Debt: $962,257,621,224 ($6,072 per holder)