Wednesday, November 16, 2011

Federal debt tops $15 trillion

Federal debt tops $15 trillion By Stephen Dinan

You may not know this, given all the attention paid to far more trivial matters, but think about this:

"Mr. Obama is averaging a debt increase of more than $1.5 trillion a year during his term in office, compared with an average of $612.4 billion for Mr. Bush and $192.5 billion a year under President Clinton."

And there's the matter of the trillions of dollars in junk paper from the mortgage ripoff still in the system.

And pouring untold billions into their lost-cause crusade for military authority in the Middle East

And all those jobs shipped overseas that made some very greedy people very wealthy while leaving America with what may come to depression-level unemployment with millions of people earning less then the cost of basic living.

Click here for a chart showing the National debt.

Update: See this article: 1 Through 30 – The Coming U.S. Financial Crisis By The Numbers

Update 2: See The Hubris of Attacking Syria by Doug Bandow

"Moreover, America no longer can afford to fight all the wars promoted by Washington’s ivory-tower warriors. Uncle Sam is broke. The national debt is $15 trillion. Social Security and Medicare account for around $107 trillion in unfunded liabilities. A host of other liabilities loom large.

Economist Laurence Kotlikoff figures that the American government’s total debts and unfunded liabilities total $211 trillion. Added to this is the cost of Washington’s outsize military budget—half of the world’s spending, double the real outlays of a decade ago, ..."

What to do?

Support Occupy Wall Street! Get the message through to them that election campaign finance reform is a solution to many problems. There are very smart people in America that are willing and able perform for public service and not the special interests and corporations. We need to find them and get them in office without delay.

And if we're going to regain any sense of justice, we need to be putting some very big crooks in jail.


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