[Translation] Now scatter! You dimwitted plebs. There is nothing here for you to see, and nothing here for you to worry about. You couldn't understand it anyway if I explained it to you. The rising foreclosures, de-industrialization, offshoring, derivative/AIG crisis, the medicare/SS crisis, pension crisis, the foreign wars, the increasing interest on US debt, the tenuous and fragile financial and commercial relationship between the US and China, the 23 Trillion in commitments.... all these things are very complicated and are being handled by very competent and talented people. Don't you know it's normal when a government nationalizes, to various degrees, the auto manufacturing and financial industries? Well, it's not nationalization because the fine men that run these industries are handsomely compensated. That kind of thing doesn't happen in Venezuela, you know? And if you don't like it, go live in Cuba! Now shut up you plebs. It's not the end of the world because I said so. [end translation]
Budgetary is yoy - not cumulative, which is the 13T number. If Clinton left with a ~550B 1-4yr surplus, that's only ~26 years of surplus worth to build those reserves, and we've been at it ~300 years.(including the time-value of money, investment, and all the years the budget was blown to crap)
No, that's cumulative. For his 8 years, he left a total surplus of 550 Billion. Surplus years are destroyed by deficit spending. We've only had a *few* surplus years (amounting to ~700 Billion ), over the past 40 years ! So where did the other 12.5 Trillion come from?
I'm convinced that this trillion number just can't exist yet and shouldn't exist, we don't even have the resources that could be valued at that amount. Also when you have people including the Federal Reserve counterfeiting their money and it's incredibly easy to do with paper bills then it should be bloody obvious why this is bs.
not sure - i spent a few minutes looking for the pdf from the treasury where i got that number but can't find it. I put stock in it because of a few articles citing the same number, give or take 500 billion.( was around 13T) I do remember digging into the number and it seemed reasonable given the balance sheet - the majority of the value was from investment income, though I don't remember it being broken down further.(meaningful anyway) It was also valued in current dollars(2006) so it seemed likely that it was built up over a long period of time and various compounding (re)investments.
U.S. Debt Totals $133 Trillion, China Prime Beneficiary of Fed Money Printing Even if the government could somehow pay off that debt at the rate of, say, $100 MILLION PER DAY, EVERY DAY STARTING RIGHT NOW, IT WOULD TAKE 3,663 YEARS BEFORE THE TOTAL GOVERNMENT DEBTS AND OBLIGATIONS ARE PAID OFF. Even if Washington were to pay off $1 BILLION per day, it would still take about 366 years before theyâre paid off. The U.S. Federal deficit at $1.6 trillion The officially recognized national debt at $12.1 trillion $3.5 trillion owed to foreign investors Unfunded national obligations of $106.5 trillion Another $9 trillion in cumulative deficits over the next 10 years At least another trillion dollars needed for health care reform! Grand total: $133.7 TRILLION IN DEBT! http://www.marketoracle.co.uk/Article15977.html
where did the 133T number come from? Most of the article is an op-ed piece based on the assumption of this 133T number, which the author fabricates based on conjecture. 100T in "unfunded national obligations" ?