Posted on 10/10/2013 1:33:21 PM PDT by Responsibility2nd
If Congress doesn't raise the debt ceiling soon, the U.S. government won't be able to pay its debts. Here's who the government owes money to — all the holders of U.S. Treasury debt, broken down by category and by how much government debt they hold.
For more, see our story: What A U.S. Default Would Mean For Pensions, China And Social Security
It'll be me and you and everyone else expecting SS benefits.
More bad English from NPR.....................
This is a bunch of hype. The balance due on he debt each month is 20 billion. The tax revenue received each month by the fed is $250 billion. So why would there be a default?
When the lead sentence is a lie, it exposes the agenda.
Interesting that Japan holds almost as much as China...
All the pundits say raising the debt ceiling isn’t to give us more future buying power, it’s to cover our overdraft.
Hold the line Republicans.Keep the Useless government shut down. and do not give in to media pressure to raise the debt ceiling . the media is lying saying the U.S. will default if the debt ceiling not raised. it’s a total lie to get Republicans to cave. keeping gov shut down is the best thing ever because Americans might finally see that government is not needed as gov shut down and nothing has happened.
That's like saying if my paycheck is $250/week, and my car payment is $20/week, AND THE REST OF MY LIVING EXPENSES is $312/week, why would I have a problem with my car payment?
Well a big chunk of that $250 Billion comes in from Jan thru April and those Bass Tards spent it all when they received it!
Here’s the real problem that they aren’t reporting. Back when our annual deficits were around $400 billion, there was enough capital on the world’s markets to absorb it every year. When 0bama came to power, his $1.6 Trillion annual debts exceeded the world’s capacity to absorb it.
Why is this a problem? I like to illustrate it by comparing it to how the two sides financed World War 1. The British financed the war by bundling the French and Russian war bonds with their own, and selling them the only place in the world where there was enough money to finance the staggering costs of the war; New York. By 1916, American bankers had so much European debt that America was bound to enter the war on the side of Britain to ensure the Allies won. The Germans, whose war effort cost just as much, were frozen out of the New York bond market. So they sold their debt to themselves. In five year notes. When the notes came due in the early 20s, nobody bought them. They lost the war. So the German people took their money home in wheelbarrows as the Weimar government paid off its own debt in worthless currency.
When we went from $400 billion to $1.6 Trillion, we went from the British model to the German model. Only we call it “quantitative easing.” By putting it into the stock market, the Fed is betting that it will stay there for a while and not be released into the economy at large to fuel Weimar-style turbo-inflation. They have inflated a stock bubble that is bound to burst.
The longer we stay on the German model, and not on the British one, the value of the debt held by Japan and China will diminish in real terms. And with it, will also go their desire to continue to prop us up financially. They will lose their “stake” in the US economy. At some point, they will write off that debt as worthless, and the dollar will cease being the world’s reserve currency.
It will make 2008 and 1929 look like the good old days.
Since Japan is sitting on so much of our cash, I wonder why their own economy doing so bad?
Isn’t all the unfunded outstanding debt about $68 trillion?
When ever I want accurate, truth telling, I turn to NPR (NOT.)
Yeah, we’ve seen more recent examples of weimar economics of course. Also done by ooga-booga africans, like Mugabe.
Actually it's like saying if my paycheck is $250/week, and my car payment is $20/week, AND MY ALIMONY PAYMENT is $312/week, why would I have a problem with my car payment?
Just wait. Obama will sprout his natural horns, and the debt wil flash grow to one tribulion.
LOL good one! And more accurate.
Half a trillion is going to fraudulent disability claims, so I’ll look forward to them getting screwed.
That comes out to about $10 grand per person, it’s not really a huge number.
On Obama’s inauguration day, the debt was $10.6 trillion according to treasurydirect.gov.
http://www.treasurydirect.gov/NP/debt/current
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