U.S. Debit

[Tired Old Man]

This should be simply to answer. Right!
I read anywhere from 5 to 9 + trillon. Is that just what we owe? What about future payments of social security? What if we go to a National health plan?
I forget what you call it, but they no longer report what the true U.S. debit is. I have heard it can be around $50 trillion. Not saying that is true. I just don't know what is true. In this world no one country stands alone.
England? What about your debit? Do you own more than you can pay?
Hey France, what about you?

Sorry about that. I just get mad when people just pick on the U.S. So can anyone tell me what is the U.S. Debit?

Last night I sat upon the stairs,I saw a man who wasn't there. He wasn't there again today. I wish this man would go away.

[Blu-ray]

This should be simply to answer. Right!
I read anywhere from 5 to 9 + trillon. Is that just what we owe? What about future payments of social security? What if we go to a National health plan?
I forget what you call it, but they no longer report what the true U.S. debit is. I have heard it can be around $50 trillion. Not saying that is true. I just don't know what is true. In this world no one country stands alone.
England? What about your debit? Do you own more than you can pay?
Hey France, what about you?

Sorry about that. I just get mad when people just pick on the U.S. So can anyone tell me what is the U.S. Debit?

Here is a good site for you on the US National Debt

http://zfacts.com/p/461.html

Lots of information there. 9.5 trillion and counting!

[Tired Old Man]

Here is a good site for you on the US National Debt

http://zfacts.com/p/461.html

Lots of information there. 9.5 trillion and counting!

Not bad, I said between 5 and 9 trillion. I hate to say it but from what I have heard it is really around 50 trillon. Say it is 9 trillion. What about China? I think they own around 3 trillion in bonds? Is that part of the 9 trillion?
You know the sad part about this question is a trillion is what a million use to be to us. All I know is I want at least one check from social security before I die. Not that it is going to help. But I paid for it.

That was sad. Sorry about that. Just how do we add up the debit. Is it what we owe today? What about what we owe in the future for programs we have today?

[lycanox]

In that case they better start printing "owned by china" instead of "Made in china" on all the stuf they import to the US.

[Blu-ray]

What about China? I think they own around 3 trillion in bonds? Is that part of the 9 trillion?

The 9.5 Trillion should include all of it. Including the 3 trillion owned by China.

[Blu-ray]

In that case they better start printing "owned by china" instead of "Made in china" on all the stuf they import to the US.

HAHAHA that was good. I needed a laugh... wait now that I think about it I think I'm going to go and cry now. :sick:

[Tired Old Man]

I'll give some (Did I say that?) credit to shortround for this.

Gold is nudging the 970 NY spot as of Friday.. and now we have another bank crash. The Dow is reflecting the unrest as well as the propped up green back exchange rate with the rest of the worlds currencies.

The dollar is going to have to adjust to the national debt...sooner or later, and the Fed is acutely aware of this fact. How many banks have to belly up before this reality hits home with the general public?
__________________

What we (U.S.) owe is based on the value of the dollar. Currently looking into Maple leafs. Just Kidding. (kind of)
I think ( honest sometimes I do that) the debit is a lot more than 9 trillion. Just not sure where to look to find the truth.

[Freddy]

The US National Debt is $9.5 trillion and rising. There is no money in the Social Security Trust or Medicare Trust. From the link:

"In short, the Social Security trust fund is really only an accounting mechanism. The trust fund shows how much the government has borrowed from Social Security, but it does not provide any way to finance future benefits, The money to repay the IOUs will have to come from taxes that are being used today to pay for other government programs. For that reason, the most important date for Social Security is 2018, when taxpayers must begin to repay the IOUs, not 2042, when the trust fund is exhausted."

http://www.heritage.org/research/socialsecurity/em940.cfm

[usohypocrisy]

i hate to be a downer, but for those who think they are entitled to Social Security benefits, you are living in a dream world. if you want money you can count on to retire on your best bet is a Roth IRA, otherwise be prepared to work until the day you die.

[medicvet]

i hate to be a downer, but for those who think they are entitled to Social Security benefits, you are living in a dream world. if you want money you can count on to retire on your best bet is a Roth IRA, otherwise be prepared to work until the day you die.



I agree with you, and wonder when the day will come that not only will new recipients that qualify for government benefits of whatever kind not be able to get it, but those that are already living off such funds will be cut off. Once that 'safety net' is cut from under some of the people at or near the poverty level, you will see its effects at once.

The number of homelessness will skyrocket, for starters. I only hope I can get to some prime under the bridge real estate before they are all snatched up..

[Smoke]

the rich get richer, and welll the poor get poorer, we know how the story goes.

[Justice]

I agree with you, and wonder when the day will come that not only will new recipients that qualify for government benefits of whatever kind not be able to get it, but those that are already living off such funds will be cut off. Once that 'safety net' is cut from under some of the people at or near the poverty level, you will see its effects at once.

The number of homelessness will skyrocket, for starters. I only hope I can get to some prime under the bridge real estate before they are all snatched up..

They would not dare cut off payments as riots would break out all over the place. instead they will devalue the USD so that in real terms they will only be paying out a tenth of what people belived they would get.

<<<<--------Coming soon my anti gay footer ----->>>>

is that OK DVANDERM ?

[Tired Old Man]

I knew I saw this somwhere before.

The true national debt is $49 trillion, not the $8.3 trillion Bush reported
That's $156,000 for every citizen, or $375,000 for every working American
This figure has more than doubled in the past five years
We paid $327 billion last year on interest alone
The true 2005 deficit was $760 billion, not the $318.5 billion Bush reported
This is 6.2% of the GDP, not 2.6%
It's all getting worse

http://www.buzzflash.com/articles/alerts/105

[Tired Old Man]

With the the FDIC backing loans from IndyMac. Then the federal goverment saving Fannie Mae and Freddie Mac. After all this is said and done how much do we add to the debt. I know the goverment had to step in with Fannie & Freddie. If they folded that would be a 13 trillion (?) hit.

SEC Subpoenas Wall Street in Hunt for `Manipulators' (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=ansrs4i.J_Ek&refer=worldwide

I hope they check into all the banking trouble. Wouldn't hurt for them to look at oil also, as in manipulating the price.

[lordofthemystic]

They would not dare cut off payments as riots would break out all over the place. instead they will devalue the USD so that in real terms they will only be paying out a tenth of what people belived they would get.

<<<<--------Coming soon my anti gay footer ----->>>>

is that OK DVANDERM ?

What is the "Agenda", the homo plan to change America and how does that plan tie
into the national debt?

[medicvet]

So people will still get their checks, but the purchasing power will be nil because they will not have enough money to actually buy anything or paying any bills? Oh yeah, that will work to stop riots.

I can see cash payouts stopping, but the 'access cards' that are like atm cards, only for food stamps, still being able to buy food. Like say, each card puts into it a code that is good for so many loaves of bread, so many gallons of milk, etc. Or even the cards not being used anymore, but food in the form of govt commodities are giving out on the back of trucks..something similiar to what is done with low income Native Americans here in OK.

I don't know how many evictions we will see, but I do know that there will be a lot of people living in homes with no gas or electric, and making do in the dark, literally. And I don't see the food stopping being given out until things get REALLY bad, and when the trucks stop coming then the food riots will break out..just like they have had protests and riots in other places of the world.