Trudeau Mania - USA Style

[Incognito]

I clipped this from the net:

"The current US national debt is $7.080 trillion dollars. Twelve months ago the national debt was $6.446 trillion dollars. That means over the last year we've ( Americans) added $634 billion to the national debt or $1.73 billion a DAY-- 365 days a year."

I say we let the Americans have 355 days in THEIR year and we get the USD$17.3 billion they won't use to design REAL farm support programs in Canada.

How long can they continue to print money like this?

[boone]

As Trudeau would say "Just watch me".

[crusher]

Are those numbers for real? Kinda makes those sad sack liberals look not so bad. How much does a war cost then? I don't think they will pour much into the ag budget with prices way above loan rates.

[Incognito]

I didnt know that extending the middle finger meant "just watch me" Boone!!

Must brush up on my signing soon...lol

[frustrated1]

oh fuddle duddle

[Incognito]

http://brillig.com/debt_clock/

The Outstanding Public Debt as of 02 Mar 2004 at 11:59:00 AM GMT is:

$7,100,525,685,147.77


The estimated population of the United States is 293,432,982
so each citizen's share of this debt is $24,198.11.

The National Debt has continued to increase an average of
$2.06 billion per day since September 30, 2003!

Wanna get scared? Hit your refresh button when you load the clock!!

[AdamSmith]

To whom do the Americans owe this money to?

[Incognito]

Copied and pasted - so dont shoot the messenger:


$2 trillion is owed to various trust funds, such as Social Security, Medicare, veterans’ benefits, highways, railroad, etc. About $3.6 trillion, is “publicly held” debt, against which T-bills have been issued by the Treasury Department. Of that amount, about $2.3 trillion is held by U.S. citizens and institutions who already own, or control, 90 percent of US wealth, and the federal government pays them over $140 billion a year in interest.

The balance is owned by citizens of foreign countries

[AdamSmith]

So basically Americans owe Americans a whole lot of cash.

Next question, what is the overall value of U.S. held wealth? This would include all public and private property, the value of the military assets, civic infrastructure, public and private land, buildings etc. plus the total combined wealth of all businesses right from mom and pop corner stores to the Boeings, General Motors, GE’s, Microsoft’s etc.

It’s probably in the hundreds of trillions.

100 Trillion in assets less 7 trillion in debt, or is it an asset if this is an account owing to Americans?

I’d be so damn happy with the U.S.’s debt to equity ratio in my operation.

Only if the debt is owed to foreign nations and only if it nears the vicinity of total national wealth would this be any cause of concern.

[boone]

Adam Smith: You never even counted the oxygen, beautiful vistas, and all the water they have yet to act on in the FTA. They are as vulnerable to wealth moving out as any banana republic. Rest assured the military hardware would only be used by collectors, if they would quit testing to see if it still works.