- Personal Finance
The U.S. Debt Clock
When my Political Science teacher showed the slide about this, I starred at it and didn't know what to say. Instant pictures of the U.S. sending money and other supplies all over the World to help countries in need popped into my head! Headlines about expensive White House vacations popped into my head! The cancellations of Unemployment for thousands popped into my head!
What the hell happened!? I know I am one of those Americans that won't own their house for thirty years and has one credit card to pay off (that's suppose to be abnormal to only have one!?), but how in hell did the country I usually find inspiring... become a really BROKE institution?!
We are deep in the Hole!
The day he showed us the new slide with the current debt, it was at 12 Trillion!
Ask me how many digits that is and I have to look it up!
So I did and came up with two answer that Wikipedia.org offered:
Now I am about as confused as before, but I looked at the number on the top of the screen and... there are FOURTEEN digits in the number that displays the U.S. debt!
That's almost as long as a VIN number!
This is, in fact, VERY personal!
Yes, there is a lot involved that we basic Joe Schmo's can't influence! But that number on the top left isn't the only number on there!
If you look to the right, you see the amount of people living in the U.S. and notice that the number of taxpayers is less than half!
WOW! There must be a lot of children and Seniors and others that can't work (not trying to be disrespectful to those with valid reasons!)!
The number of unemployed is discouraging, considering they are pulling troops out of everywhere... and reduce the services!
So where do those troops go!?
And then you look further down and see the personal debt WE Americans have! There is an average of over $50,000 worth of debt... PER PERSON!
We have credit cards, we buy houses, we take out student loans to further our education...
On the bottom right you see how many have faced bankruptcy and foreclosure! ...I keep telling people about the North Carolina Foreclosure Prevention Fund (http://www.ncforeclosureprevention.gov/)!
...And pray that there are other States that have the same!
Who do we owe?
So I remembered the World map my professor showed us and looked it up. I wanted to know who we owe that much money too. I kept wondering what would happen if somebody one day decides to come and collect the debt we owe... Like they do with us Joe Schmo's!
What will happen if some day somebody decides to send the collectors after us? Or is this the reason we are constantly being called in as the Global Police force and Emergency System?!
Are we so deep in debt with foreign countries that we really don't have much to say in deciding our own destiny anymore? Because all they have to do is wave our debt to them in front of us and we are forced to shut up and color?
It's a thought that came to my mind!
So I looked it up to see who all we owe money to and who could possibly cash in the bills one day:
As of 3 April 2012 we owe:
Brazil: $229.1 BILLION
Caribbean Banks: $227.8 BILLION
United Kingdom: $142.3 BILLION
Russia: $142.5 BILLION
Taiwan: $177.9 BILLION
Oil Exporters: $258.8 BILLION
and even worse:
China: $1.159 TRILLION
Japan: $1.079 TRILLION
We owe FOREIGN COUNTRIES over 5 TRILLION Dollars!
So how do we compare to others?
When looking at this, it seems that we are not special! It seems that being broke is a worldwide problem and bad habit...
...AND WE FIT RIGHT IN!
It seems that there aren't many people that know how to handle money! I know I'm not the greatest. But they say that in Animal Rescue you can't be rich anyway. Rather the opposite!
It is discouraging and frustrating to see how bad our situation is here in America. And then to read about expensive White House vacations and all the countries we 'help out'!
Do we truly have to BORROW money so we can be the World's Police Force and Emergency System?
If not, why are we doing it!? When are we going to say: "Sorry, but we are broke! Please come back when we have the funds and we'll be happy to help you!"?
And when is the rest of the World going to help us?! The U.S. had natural disasters and other emergencies!
I am all for helping out and as a German appreciate the help of the United States of America during and after WWII.
But when are we going to fix our own house!?
And pay back our debt by paying the bills we got?!
Catching my Breath!
So now I am sitting here wondering where we will be 30 years from now when I could be retiring with my current institution/company/employer!
Where will my children be when they are my age? Will they face the same struggle we Americans have been facing for the last few years?
Will a gallon of gas be under $10?
Will the national debt be so high that they have to build a new clock?
It makes me wonder!
But then again:
We are a bit foolish as a country, considering we vote for our president; often based on how well he/she presents himself/herself; and sometimes we actually do know a bit more about their qualifications.
I am still questioning why every job in this country has a application process, but the highest position in this country gets voted on by a few!
And why is he not paying his vacation from his ...salary? I'm sure it wouldn't be that expensive then!
No, it isn't the president alone! But he is suppose to be the one leading us in the right direction!
Welcome To The Weekend - The US Debt Clock
U.S. Debt Clock
- U.S. National Debt Clock : Real Time
US National Debt Clock : Real Time U.S. National Debt Clock
World Debt Clock
- World Debt Clocks
Real Time World Debt Clocks
U.S. Debt Clock by State
This is a list of the U.S. Debt Clocks by State. It didn't come up any better than this, but you can look up your own state.
Canada Debt Clock
- Canada's National Debt Clock : The Canadian Taxpayers Federation
The Canadian Taxpayers Federation's Federal Debt Clock
The World Factbook of the CIA
- CIA - The World Factbook
This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both...
Bureau of Labor Statistics
- Unemployment Rates for States
Unemployment Rates for States Monthly Rankings Seasonally Adjusted May 2012
Wikipedia.org on Public Debt
- United States public debt - Wikipedia, the free encyclopedia
The United States public debt is the money borrowed by the federal government of the United States at any one time through the issue of securities by the Treasury and other federal government agencies. The U.S. national public debt consists of two...