Record Debt: * As of July 31st the national debt stood at: $11,669,251,349,504 ($11.7 trillion). * With a population of just under 307 million, that works out to $38,000 for every man, woman, and child in America. During the month of July, the national debt increased by $124 billion. *That is an increase of $4 billion a day; $170 million an hour; $3 million a minute; and $46,000 a second. * The government spent $19 billion just on interest in July. That is $612 million a day in interest payments. Increase Since the Democrats Took Control of Congress: * As of June 31st, the national debt had increased $3 trillion since the Democrats took control of Congress on January 3, 2007. That works out to an increase of nearly $10,000 per person.
Foreign Ownership of U.S. Debt:* At the end of May, the U.S. government owed China $801.billion. We owed Japan $677 billion, and we owed oil exporting nations such as Saudi Arabia, Venezuela, the United Arab Emirates, Bahrain, and Kuwait $193 billion. * In the first five months of this year alone, our debt to China has increased by $74 billion or 10%.
FROM REPORT BY REPRESENTATVE FORBES
13 comments:
The easiest for the Feds to retire debt is to devalue the dollar and/or allow double digit inflation. They did it before and they can do it again. The smart way would have been to allow manufacturing, domestic oil development, Research & Development and service industries to recover their footing. Sadly that's not in the cards under the Obama-Reid-Pelosi Troika.
Regardless of what happens in the2010 elections the Libs will blame the Bush Administration or the new crop of spineless Republicans for the mess.
WE dont....
Plan now for inflation and a devalued dollar that will allow all these debts to be paid back with much less valuable dollars. It is the American way.
Time to cash out those bonds and shares. Once inflation hits the best position is tangible assets and cash.
Thank you Libs for giving us a decade to revile your policies. We still need to have a constitutional convention to resolve the festering issues like legislating from the bench, abortion and the rights and powers of our legislature.
Sell Michigan, Ohio, Pennsylvania, New York, New Jersey, Massachusetts, Connecticutt, Rhode Island, Vermont, New Hampshire and Maine to Canada. If that isn't enough sell California to Mexico. What's left is hard working honest Americans.
Sell Illinios to the Mafia.
Don't forget to sell Virginia to the "Special Interests" and corrupt politicians.
To pay back 9 trillion means we have to sell something. There is no other way. So what will it be? Land, raw materials, manufactured goods or service like an army of mercenaries available to the highest bidder. If we become desperate enough, we could always have an oil for white slave trade with the Middle East. How about legalizing drugs?
As we go deeper into a financial abyss our government keeps giving aid (our children's future) to overseas countries and despots. What does Obama think he can do buy friends, allies? No matter how you look at it the Libs will spend every last dime and blame it on Bush. I wish we had Jimmy Carter's infamous Panama Canal giveaway back so we could sell it to the Chinese.
Give up Medicare, Medicaid, Social Security, and almost every other entitlement conceived by in the past 6 decades. We can no longer give away that what we don't have.
Allow the British fleet to sail up the Chesapeake and burn the capital. Pursue the cowardly legislators and lock them up in prison barges.
Now that Labor Day is about to pass with summer the snowbirds will soon return to Florida leaving the opposition of Obamacare to the Dancing with the Stars crowd.
Florida has no income tax so they summer with the kids and grandkids up here and winter in warmer friendlier tax free climate down south. Now we are at the mercy of six pack video game playing idiots that elected out of blind stupidity the likes of Warner, Webb and Deeds. God help us and our world class medical system.
The mafia already owns Illinois.Wake up and smell the printing of NEW money.
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