7 trillion in new spending this year, and they're talking about tax cuts the one year in 30 years the budget was ballanced (2000), they tripped all over themselves to spend the 'surplus' 10 trillion in debt before bailout 7 trillion commitment for bailout 17 trillion /300 million times 4 - $226,666 in national debt per family
David Walker (former comptroller general of the GAO) was quoted as saying we have an additional $40 trillion in off balance sheet debt and that the true national debt is actually in the $55 trillion range. He said this worked out to $485K per household but using the approximate 300 million people in the US we would all owe roughly $183K per individual based on his figures.
i'm just going on straight up, what's there unfunded entitlements to citizens can be renegged the stuff i'm talking about cant but you are right, my figure is actually understating it by quite a bit
oh, and that's divided by every man woman and child period a large percent of housholds pay no taxes so the debt divided by taxpaying housholds is WAY higher
You don't get it, do you? -Debts between Americans: Americans owe to Americans -Foreign debt: They got a problem. The only way to get their money back is to make sure they invest in America to do well in the future and pay their interest, which in turn they must invest back in America to do well and pay the interest, ad infinitum You don't get it people. You never will... The problem is not debt. The problem is keeping out of deflationary spiral.
No, YOU dont get it the issue here, is someone with a runaway credit card, putting each of us in debt need an illustration? give me your credit card, issued by an AMERICAN bank, and I'll go on a shopping spree "hey, you owe it to another American, what's the problem?" f--king dumbass