saw this on another blog... thought it was funny so , thought I might share
Some dude said: I can hear my son when he grows up…
“Why didn’t you do anything to stop this…?!?!”
… and my answer will be,
“Well, there was this guy named ernesto on this blog I used comment on that told me not to worry…”
in a few weeks the debt surpasses 100percent of the GDP as well
...Have a Merry Christmas !
Yep, and the little sucker is just moving right along...
http://www.usdebtclock.org/
Eh, no need to worry. As long as we keep spending and printing, things will be fine
Remember, the federal government owns about $7 trillion of its own debt. It would be like my wife taking money from a savings account and depositing the money in the checkbook and saying we have a debt owed to the saving account.
Government accounting. Ya gotta love it.
Now that actually perks me up somewhat.
@ Keith tax , still depreciates the currency either way(loss of purchasing power) a poverty trap to poor and middle class now too ...6 percent of that 7 trillion still goes statutory disbursement to Fed stockholders year over year and it makes it tougher for the Fed to control inflation once it surpasses the gdp mark.. it's like a multiplier...under 100 percent and inflation is easier to target.. over 100 percent is a battle to keep inflation targets under control and can lead to hyperinf... well i won't go there just yet
most of the seven trillion is owed to old retired people so even though its owed to its own people, there will be a time when they have to look those old folks in the eye and tell they cant actually pay it to them...the young have nothing to look forward to in the future
its worse than just pretending that the govt owes itself, so no worry
Again... Merry Christmas!
That's nothing compared to the actual total of America's full debt. When all said and done, it's closer to 100 Trillion is what's owed.
Yes, exactly and most will be unpayable in the future without continuously adding to the govt credit card... print, print, print... until the money becomes as worthless as a Zimbabwe dollar. It's a continuous cycle that's snowballing... or about to once it falls over the edge... that edge is when it surpasses 100 of GDP...http://www.usdebtclock.org/ ... suspect that line will be crossed when both hit about 15 T ,55 B,000,000,000 mark !
You guys get to complain about it. I have to work with those idiots.
Trolling IRS agent happens by and makes a note...
Here's how the U.S. and Europe got into their current economic and political predicaments:
"In both Europe and the United States, the current public debt woes are attributable to mistakes made by political leaders going back more than a decade. In both cases the magnitude of the debt problems has only become evident for all to see recently, by which time it was too late for the straightforward policy solutions that were viable options before.
"It is hard to judge whether it is Europe or the United States that has screwed up worse. On the one hand, Europe is now much closer to full-fledged crisis: The debt problems in Mediterranean members are virtually insoluble at current interest rates, are probably pushing Europe back into recession, and could well soon result in one or more countries forced to leave the euro. By contrast, there is no true fiscal crisis here yet; the world's investors are still buying large quantities of U.S. bonds at low interest rates.
"On the other hand, the mistakes by U.S. politicians are more gratuitously self-inflicted than on the other side of the Atlantic. In 2001, all we had to do was continue the fiscal progress that had been made during the 1990s: preserve the budget surplus and move on to address the longer-term problems of Social Security and Medicare in a deliberate and balanced manner. Instead we recklessly enacted massive tax cuts and tripled the rate of growth of federal spending, in ways guaranteed to generate serious fiscal troubles in the decade of the 2010s and beyond. The debt-ceiling showdown last summer was but the latest self-inflicted wound, new evidence that the U.S. political system is not functioning."
http://www.usnews.com/debate-club/who-i … -inflicted
Great for the bankers who all went bust, and got bailed out by the various governments, so that now the banks are all robust and governments are all bankrupt.
Who we owe it to
http://www.ritholtz.com/blog/2011/01/is … e-us-debt/
The article is current but the data are 15 months old.
by Tim Mitchell 14 months ago
From Riches to Rags: Causes of Fiscal Deterioration Since 2001 by Committee for a Responsible Federal Budget (Jan 10, 2024) says;https://www.crfb.org/papers/riches-rags … ation-2001 [Who in the hell are those people. There about page is at the next link.]https://www.crfb.org/staff-members“In...
by Flightkeeper 14 years ago
The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history; the one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007. This means that nearly $1,500 of debt was added for every U.S....
by Eugene Hardy 13 years ago
14 Trillion Dollars.That is a lot of debt.If we were a house hold with a $15,000.00 debt that the house must pay, or face bankruptcy, then the house and all it’s members must work to together to do it.It will take more than 20 years probably to pay it off, meaning multiple administrations and...
by qwark 14 years ago
A billion:A billion seconds ago it was 1959!A billion minutes ago jesus alledgedly lived!A billion hours ago our ancestors were living in the stone age!A billion days ago no one walked upon the earth on 2 feet!Now, consider 1000 times a billion: a trillion... and try to visualize our national...
by MikeNV 15 years ago
"The U.S. national debt hit $13 trillion today, a stratospheric number with looming implications for every citizen.With about 309 million people living in the U.S., the average American owns a $42,000 piece of debt — and the 110 million taxpayers owe an even larger chunk per person as the debt...
by crazymom3 11 years ago
What is the government doing to pay off the national debt? How is it being paid off?
Copyright © 2025 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2025 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |