no problem ..the asians own most of it anyway.. and that's why there is no crowding out,cuz it's not financed by americans... this must be the most successful central planning economy in the history of mankind. the communist russia and china have never attain anything close to this.. but this is only the prelude, the main act is orchestrated by greenspan & co, where he inflates away the debt which is like pushing the reset button in a Monopoly game that america is losing. players are going to complain but it's too bad because they don't own the printing press. think about it, if it's just a monopoly game , and you can print as much monopoly money, wouldn't you want to MILK IT for all it's worth??? and that's what the bush admintration is doing.. It's game over but there is always the reset button... p.s does anyone know where I can find precise figures for the distribution?
IBD stated government figures last week showing usa privately held assets grew to 42 billion. There is 11 trillion in 401k's of which uncle sam will reap some taxes when cashed in. If usa has debts then usa must have assets. These assets could be sold off to pay debts if so chosen. California could pay off a substantial part of its debt IF it chose to sell oil drilling rights off the coast. Some people always look at a cup as half full or half empty, we still have many options not yet exercised.
Comprehensive Annual Financial Report (CAFR)..........each state has one. 42 trillion is probably low balling total assets. so tell me why we are still working for the govt for 5 to 6 months out of the year if the govt is sitting on all this $$$$$$$ ???
Yes total usa assets stated in a barrons article said usa was worth over 65 trillion dollars,, the government owns lots of land, buildings etc.. I suppose people dont care about taxes,, honestly. In new york they pay $7 bucks for smokes,, gas taxes in comparison to total price is small,, you could put a $1 tax on gasoline per gallon and people wouldnt care. Americans are well off compared to many other nations. I always wondered why usa doesnt have an account in each taxpayers name where they could deposit residuals from government owned properties,, I suppose americans dont care about money, except to spend it. Why shouldnt citizens get a piece of the action from logging profits or mineral excavating profits, or drilling for oil or natural gas. Let this compound over decades and individuals would have a great deal of money. Look at how much the government got when they auctioned off the air waves for cell phones,, radio etc..Somehow the money goes in and then "poof".
Do you have any money in your savings account? How are you going to pay for your retirement? Yes, Greenie can inflate away the debt. The problem is that everybody that has anything will end up broke... imho
Guys just put your money in Gold and if the US treasury collapses like you all want it too, then you will have more money then you will know what to do with. Do you think its any coincidence that the dollar and gold have an inverse relationship?
The US Treasury publish the national debt figures here: http://www.publicdebt.treas.gov/opd/opdpenny.htm The history of the debt from 1950-2000, http://www.publicdebt.treas.gov/opd/opdhisto4.htm shows the true cost of some of the previous adventures that are still being paid off. As far as I'm aware, the $30-$50 Trillion total that has been mentioned includes the future value of promises like social security and medicare etc. I dont know how much "too much" is, but I doubt that this is sustainable. Eventually the interest bill alone (even at 1%) will consume 100% of federal income tax receipts.