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DEBT: Does Anyone Get It Yet?

Mike

Well-known member
The amount each household in the U.S. owes for his/her portion of Federal Debt plus each average Personal Debt:

$668,621.00

Of that debt, $546,668 is what the Federal Gov't owes per household
and $121,953 is the average personal debt.

Does anyone get it yet? This is UNSUSTAINABLE!!!!!!!!!!!!!! :cry: :cry:

How long will it take your household to pay this off? Or will you ever?

At the rate we are going, Zer0 will add another $10 TRILLION to the $63.8 TRILLION we owe now.

On a side note, it took 8 years for Bush to add $2 TRILLION all while fighting two wars..................................plus two of the largest disasters of all time.
 

per

Well-known member
Assume for a minute that everyone could divvy up and pay it off tomorrow. How long before the government builds it back up again? Maybe the current debt could be looked at as a deterrent.........Ya right. :? :evil: OK, I know it is US debt, but every other country has a similar issue.
 

Sandhusker

Well-known member
Move along, liberals..... nothing that would concern you here.... move along...... Obama is handing out more koolaid and blinders, I suggest you move over there..... move along....
 

Silver

Well-known member
Say Mike, did you take the time to do the math on that, or were you just so happy to see bad news you just threw it up here?
Sandy, I would have thought a banker might have caught this one....
 

Mike

Well-known member
Silver said:
Say Mike, did you take the time to do the math on that, or were you just so happy to see bad news you just threw it up here?
Sandy, I would have thought a banker might have caught this one....

The facts above are all over the USA Today paper. I think the CBO did the math just like they did when showed Zer0 his employment figures were skewed all to heck.

Actually this news makes me cry................ :cry:
 

Sandhusker

Well-known member
Silver said:
Just making sure everyone gets to see this............................

You trying to pick fly specks out of the pepper? The point is that the amount of debt we have now is rediculous - and the schmuck in the White House is adding to it faster than all of the other presidents combined.
 

Silver

Well-known member
Well, if exaggerating the number by four fold is picking fly poop out of pepper, then I guess I am.
The National Debt has continued to increase an average of $3.79 billion per day since September 28, 2007! It's a bad deal. There is quite a series of presidents that should be flogged in a public square over the deal. But some on here make it seem as if it's a new phenomenon.

At any rate, take out your little calculators and multiply your $546,000 by however many households you think there are in the US and see what you get. Then remember not to believe everything you read. :wink:
 

Mike

Well-known member
Silver said:
Well, if exaggerating the number by four fold is picking fly poop out of pepper, then I guess I am.
The National Debt has continued to increase an average of $3.79 billion per day since September 28, 2007! It's a bad deal. There is quite a series of presidents that should be flogged in a public square over the deal. But some on here make it seem as if it's a new phenomenon.

At any rate, take out your little calculators and multiply your $546,000 by however many households you think there are in the US and see what you get. Then remember not to believe everything you read. :wink:

Take up your argument with the USA Today:
The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

"We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it's not backed up by a house," says David Walker, former U.S. comptroller general, the government's top auditor.

FIND MORE STORIES IN: United States House of Representatives | Baby Boomer | Tax
USA TODAY used federal data to compute all government liabilities, from Treasury bonds to Medicare to military pensions.

Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion.

The numbers measure what's needed today — set aside in a lump sum, earning interest — to pay benefits that won't be covered by future taxes.

Congress can reduce or increase the burden by changing laws that determine taxes and benefits for programs such as Medicare and Social Security.

Rep. Jim Cooper, D-Tenn., says exploding debt has focused attention on the government's financial challenges. "More and more, people are worried about our fiscal future," he says.

Key federal obligations:

• Social Security. It will grow by 1 million to 2 million beneficiaries a year from 2008 through 2032, up from 500,000 a year in the 1990s, its actuaries say. Average benefit: $12,089 in 2008.

• Medicare. More than 1 million a year will enroll starting in 2011 when the first Baby Boomer turns 65. Average 2008 benefit: $11,018.

•Retirement programs. Congress has not set aside money to pay military and civil servant pensions or health care for retirees. These unfunded obligations have increased an average of $300 billion a year since 2003 and now stand at $5.3 trillion.
 
A

Anonymous

Guest
Silver said:
Well, if exaggerating the number by four fold is picking fly poop out of pepper, then I guess I am.
The National Debt has continued to increase an average of $3.79 billion per day since September 28, 2007! It's a bad deal. There is quite a series of presidents that should be flogged in a public square over the deal. But some on here make it seem as if it's a new phenomenon.

At any rate, take out your little calculators and multiply your $546,000 by however many households you think there are in the US and see what you get. Then remember not to believe everything you read. :wink:

The National Debt Clock says that the debt is 11.3 Trillion $....

The estimated population of the United States is 306,273,238
so each citizen's share of this debt is $36,948.00.

http://www.brillig.com/debt_clock/
 

Silver

Well-known member
Oldtimer said:
Silver said:
Well, if exaggerating the number by four fold is picking fly poop out of pepper, then I guess I am.
The National Debt has continued to increase an average of $3.79 billion per day since September 28, 2007! It's a bad deal. There is quite a series of presidents that should be flogged in a public square over the deal. But some on here make it seem as if it's a new phenomenon.

At any rate, take out your little calculators and multiply your $546,000 by however many households you think there are in the US and see what you get. Then remember not to believe everything you read. :wink:

The National Debt Clock says that the debt is 11.3 Trillion $....

The estimated population of the United States is 306,273,238
so each citizen's share of this debt is $36,948.00.

http://www.brillig.com/debt_clock/

That's right OT. So if you multiply that by say 4 or 5 to get a household number, we're still not even close.
Some folks are so excited to see an article they think furthers their agenda they wont stop to think on their own.
 

Mike

Well-known member
Oldtimer said:
Silver said:
Well, if exaggerating the number by four fold is picking fly poop out of pepper, then I guess I am.
The National Debt has continued to increase an average of $3.79 billion per day since September 28, 2007! It's a bad deal. There is quite a series of presidents that should be flogged in a public square over the deal. But some on here make it seem as if it's a new phenomenon.

At any rate, take out your little calculators and multiply your $546,000 by however many households you think there are in the US and see what you get. Then remember not to believe everything you read. :wink:

The National Debt Clock says that the debt is 11.3 Trillion $....

The estimated population of the United States is 306,273,238
so each citizen's share of this debt is $36,948.00.

http://www.brillig.com/debt_clock/


You're not counting the unfunded obligations that will come due soon like:
Military retirements
Federal employee retirements
The Baby Boomer's Social security checks
Medicare for the soon retiring Baby Boomers
etc. etc. etc.

And remember, Zer0 is wanting to add $10 Trillion to the debt in a few years.

Our goose is cooked. :cry:
The National Debt Clock says that the debt is 11.3 Trillion $....

That's only the amount that is owed today. Not counting the obligations that are promised for years to come and people will be expecting.
 

Sandhusker

Well-known member
Shame on Mike for promoting his agenda. Contrary to what he would like you to believe, this country is barely in debt and everything is totally under control. We have absolutly nothing to be concerned about. Spend on, Messiah.
 

Silver

Well-known member
Sandhusker said:
Shame on Mike for promoting his agenda. Contrary to what he would like you to believe, this country is barely in debt and everything is totally under control. We have absolutly nothing to be concerned about. Spend on, Messiah.

Congratulations Sandy, you just did a whole post without asking one of your retarded rhetorical questions.
 
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