The politicians dont care. They want to get their programs through and get re elected. They know the debt that is created will never be paid back. The country will just cancel out all the wealth and debt and start over.

Its too late. I think thats why Obama just spends and spends. He knows the debt will just default anyway, so why not spend more money now to get his programs through. He wont be president when it collapses anyway

Very interesting. I would contribute to keeping this site alive if they asked. It really says we are all nearly bankrupt in terms of national assets and total unfunded liabilities. Especially since it says I would owe $843,030 to pay off everything our government spent on my "behalf- without my consent"

Good Grief!
Somebody stop it!
Stop it, PLEASE!

In the book "The Death of Money" the author sees it being paid, basically assumed by the IMF in exchange for global currency. I think he is right as it will give them another 50 years or so of the funny number accounting before that system is dying as well.

You may be right. Personally I think it will be paid but it may be with blood not gold. I just don't see it continuing indefinitely.

Well stated!

This is why I'm convinced the debt will never be paid, unless it's by runaway inflation.

That's a lot of information all in one place. I wonder how many politicians actually look at all that Red ink - and that's in accounting terms not political shades.

Thanks for adding that.

And without the federal reserve bank manipulating markets for the banksters advantage, the crash and depression would not have happened, and the fall into socialism under FDR et al would not have been possible.

I was opposed to Bush jacking up the debt to save any so-called "too big to fail."
At about that time I recall Glenn Beck pointing out a stock market crash of 1920 that libs like to ignore.
The federal government acted like big business was none of their business.
Big business sorted itself out during 1921 and then came the Roaring Twenties.
When the stock market crashed again in 1929, big government got involved with big business and the Great Depression dragged on and on and on . . .

They will do that only when the reality of failing to recognize reason puts in line for a soup kitchen to eat.

The greatest evil of our time is that people who are in a place of being unable to pay for their own existence need not identify where they are or how they got their. Reality has been removed from them, and as a result they can live on shopping at the same stores, and doing the same things as those that are working. Until reality requires them to make a change from working life to welfare life, one that is uncomfortable, we as a culture, will continue to allow those that pay for our existence to do whatever they want so long as the check keeps coming.

While I agree with what you said that Obozo said about Bush, I wasn't blind to the reason he said it.
The majority of Americans don't deserve the betrayal of liberty evident by every president in recent history. If only they would wake up from the propaganda nightmare and use reason to recognize the truth.

Yeah, for a reality check, old dino likes to use that link here off and on.

When the crisis occurs we take just enough action to avert it, but do not change the behavior that caused it. Were we (the people) making real changes to our behavior the consumer debt would be going down rather than up. Until that happens the public sentiment will never shift to have the government control its spending.

That's what Candidate Obozo said about Bush before he became presidebt and virtually doubled the National Debt.
Oh, I'm sorry, what Smiley went and did is all Bush's fault.
So Cloward and Piven never mind I brought that up for a fundamental change of anything..
And y'all don't forget about banana republic exceptionalism now.
Yeah, we ain't so hot and sorely deserve to be taken down several pegs for the sins of our fathers.
Just ask the Chairman-In-Chief.

so the government is showing us how our tax dollars are being spent; WONDERFUL.
what i really like to see is how the taxes that the government is collecting is growing; WONDERFUL except I just don't know how that is happening when so may companies are either closing or reducing staff. What we need now is Alfred E Newman in office saying WHAT ME WORRY, of is that hiim with a black face.

Yes all I can think are words that I shall not share on this site out of shear respect. Wow! Just wow.

Wow. It is staggering. It's unfortunate we appear to wait for a crisis to take action.

Disgraceful and traitorous.

That would be funny, expect its true.

Yes there was a short period, about a year and a half where individual debt declined. It did not take long for most to go back to the spending ways.

The other really interesting thing to me is the decline in average income in recent years.

I review this periodically mostly for a reality check. The national debt is scary enough but 2 things that tell me we are headed for a world of hurt is the fact that personal debt is still climbing and the total liability per taxpayer is almost $843,000 including unfunded liabilities. IMHO this does not end well.