The US government is on it’s way to ten trillion dollars of debt. Don’t you know that the US government is racking up a staggering amount of debt for generations to come and there does not seem to be any president or potential presidential candidate that is truly addressing this issue. Other than the fact that both plans being pitched by both McCain and Obama are only going to add between three and five trillion more! Depending on who gets in and which plan you look at. That’s right more! To the mountian of debt that was five trillion dollars back in the year 2000. So the US government under G.W. Bush for the last eight years looks to double that total by the end of his eight year run. What an amazing legacy to leave the our children. there really does not appear to be a solution in sight as both prospective new presidential candidates have plans in place that will no doubt only add to this problem.
What business in the history of business has been able to run up even a small percentage of that kind of debt and survive? There are none! There never will be one either. The US government of this generation has managed to put a debt tab on every single person that resides in the USA a debt over $31,000. That means for each and every person and that number is well over 304,000,000 million people, we would need to dish out over $31,000 dollars to get out of this debt. What a wonderful time to be born in the good ole USA.
Now as big as that number appears to be and that is an insanely large number. Here is the bigger number that no one in government seems to want to address. Take a guess at what some of the latest estimates are for the funds that are “promised” to Social Security, Pensions, Medicaid and Medicare. Some estimates are reporting a number up and over….. ready for it? Between Forty to Fifty Trillion Dollars! That is $50,000,000,000,000!!! Whoa that is a lot of zeros!!!! That is money that the government does not have!!!!
So what do we do as individuals? We save our own nest eggs we write to representative in government, no matter what level they are. We the people need to take responsibility for ourselves and for the people that we put into office with the votes we place. We need to get off our complacent assess and fight for our rights as US citizens. To a government we can be proud of not one that runs our country into biggest financial disaster that no one wants to see or admit that is already here. You know that Sixty Trillion dollar elephant that is sitting in the room and no one wants to acknowledge.
Here is a nice little site to get you started on the road to reality as to what some of the financial number look like. Email it bookmark it, spread the word!!!!!
11:48 pm on September 29th, 2008 1
It is strange that many of those in power likely had no need to accrue personal debt throughout their lives. Maybe that’s why they are so liberal with everyone else’s money.
College Loan Debts last blog post..10 Ways I Got My College Loan Debt
7:11 am on September 30th, 2008 2
@College Loan Debt -
yep, it’s pretty much a foreign concept. spend the money you have not the money you don’t have. make it first then spend it, imagine that?
1:27 am on November 23rd, 2008 3
don't spend money if you want rich..heee…hee