Skip to comments.“It” Is Scarier Than Anything Stephen King Has Ever Written
Posted on 01/04/2011 9:45:45 AM PST by survivingcalifornia
A couple of days ago I posted this original article on my blog about the huge problem coming with the 'real' national debt. Several people wanted me to post it here so I hope you find it as interesting:
We here at Surviving California have been asking our friends for the last several years a question and it has surprised us that no one else seems to be asking it. Either it is a very dumb question (a real possibility consider our history) or people have been in a self-induced fog preventing them from realizing the immensity of it.
When we discovered usdebtclock.org about 4 or 5 years ago, it was one of the first things we noticed mostly because no one was talking about it and it was really big then. And now it has grown out of proportion to anything else.
What is it, you ask?
How many of you guessed that it was the National Debt?
Yeah, thats what everyone talks about and why that isnt it. No the National Debt is only approaching $14 Trillion.
If this interests you and you would like to read the rest of the article, please go to:
Hope everyone is having a good start to the new year.
Idiots buy more HD TV’s from a better brainwashing experience. You have idiots on FR defending TV. The more Tv Americans got - the more freedom they lost. Most have no clue.
This is only the CURRENT National debt.
It is like your credit card maxed out... to the max.
But it does not include the FUTURE CONTRACTUALLY OBLIGATED PAYOUTS you already have planned. There is something like $100Trillion in things ALREADY COMMITTED TO
Common sense dictates that the medicare prescription benefit passed by Bush, with 17 trillion in unfunded liability, be canceled.
But no one is discussing that. It’s very nice that President Bush wanted to give seniors their prescription drugs. But without regard to the cost?
The first thing we need to do is increase our domestic daily oil production capacity to at least 10 million barrels a day. After that we abolish the IRS and start a 10 flat tax. Then Congress goes home for two years.
I can’t stand blog pimps.
The national debt is way beyond the bounds of human comprehension. And that’s not hyperbole, they’ve done shrink test on people’s ability to comprehend numbers and quantities, and as the numbers get bigger the comprehension gets fuzzier, and that fuzz starts to set in actually very quickly for all but the really mathematically inclined. By the time you get past a million of anything (dollars, jujubes, whatever) the human mind basically just thinks of it as “a very large amount” and doesn’t even try comprehend it on a specific level. So without a dramatic change in the basic underpinnings of the human mind the general populace will never really understand the national debt.
“it” is just the last two letters of what will soon hit the fan, government (funded and unfunded) liability-wise.
Accrued liabilities must be shown on every corporate balance sheet but not the government’s. Devin Nunes has a bill requiring states and cities to publish their pension liabilities before they can float new bonds. The bill also prohibits bailouts to the states or cities.
A scary story I saw on Big Government said that the Fed might actually buy state/city bonds and there’s nothing we can do about it.
Abolish the Fed! Ron Paul get on top of this ASAP!
We have been using Fiat Currency for the last 40 years, and most of the “debt” we have piled up is essentially “Fiat Debt”. We need to fix the currency system, and write off the “Fiat Debt” but it is going to hurt, badly.
But it is the only way to fix this problem...
you must not have clicked on the link to the entire article, right? That is exactly where I go. It is now over $100 Trillion dollars. And that is not including the student loans, etc. out there.
Wasn’t sure if I was supposed to or not. I didn’t want to be known as an attention grabbing wh@(#.
I love it here but mostly stay in the background because of all the talent here.
I like your thinking!
Esp. re IRS!
there are better ways of collecting taxes...unless you are wanting social control and engineering.
Most people are not freepers. You must be new here.
Oh, this isn’t about some new wonderful mode of transportation?
Wow! You asked me why I didn’t post it here and then you unloload on me without even waiting for a response from me.
You may have a problem with blog pimps, but I have a problem with impatient know-it-alls that don’t give grace to someone new.
I thought I was doing it correctly by not putting the whole post there. I thought it was just supposed to be a blurb. All you had to do was help me out and let me know.
You are so inviting to newcomers. With an attitude like yours, the conservative movement will languish forever.
Good point. And I agree whole heartedly.
Yes, I am. Not new to the cause, though. Not trying just to get hits to my blog but my profile lists my contributions to the conservative movement over the years. I have been pretty much silent for the last decade.
About $,243,000 per taxpayer over the next 30 years with no new debt added!
About $1,243,000 per taxpayer over the next 30 years with no new debt added!
Yep, the unfunded liabilities. Last report I saw put it at $112 trillion. Mind-boggling.
HAHA! I wished I would have thought of that one!
Thanks for the laugh. I really needed it today.
SS, Medicare, public employee retirement bennies, and all the other benefits are just not going to be paid.
The question is not how much unfunded liabilities we have, the question is what happens.
Right now the government via the Fed is kicking the can and inflating (devaluing the currency) hoping for a short term fix. It cannot work, the elephant is too big.
So we either get serious about the problems and start on a 20 year plan to fix our economy or we are facing hyper inflation or a deflationary depression. We may end up with either/both anyway. Our leaders are doing such a disservice by leading us to believe that we can somehow fix this scenario without major changes in the way we operate in the US.
I hope for the best but fear the worst.
Yes, that is what I wrote about further into the article. Sorry, I didn’t understand the exact etiquette in posting.
It is $100 Trillion NOT INCLUDING student loans, etc.
You have violated the blogpimp code.
1) You posted the entire blog text. Tsk Tsk
2) You actually responded on this forum instead of remaining on your own blog site waiting for comments there. Sigh.
That, and there isn’t even a post by Humblegunner in the thread.
No! Really! I didn’t. I think that is the problem. I had the tradition backwards. I only posted the first part of it thinking that if people liked it, then they would click through.
Guess I still think in “old school” from when memory was more ‘expensive’.
I have to laugh at all the self-appointed little “hall-monitors” (and you know who you are) that are so quick to complain about an excerpted blog or vanity in a section called “bloggers & personal”. Perhaps we should get them a special sash, or a top-hat with a badge so they can feel even more important about themselves as they make their appointed rounds, keeping the halls of freerepublic.com clear of... what, new contributors?
All kidding aside, just post your content and ignore the Barney Fifes. There are plenty of us lurkers who *DO* appreciate your contributions, whether excerpted or not.
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