“I must confess, when I see anyone with an Obama 2012 bumper sticker, I recognize them as a threat to the gene pool.” Allen West
Yesterday I saw a new bumper sticker in Maryland, “Obama cares.” President Obama and his administration must care a whole lot – they love to spend so much money that we are running up a projected fifth year of $1 trillion deficit spending.
The national debt clock is changing red numbers as fast I can focus, reflecting the out-of-control spending in Washington and the weak value of the dollar in conjunction with our disastrous energy policy, high unemployment rates, comatose economic growth, and the rapid rise in welfare.
The public debt today is nearing $16 trillion while U.S. tax revenues are a mere $2.3 trillion. U.S. debt interest alone in 2012 is $3.9 trillion. U.S. debt held by foreign countries is approximately $5.4 trillion.
Total national assets, including small businesses, corporations and households are $91.3 trillion. If we sold them at some unprecedented national auction, that would not be enough to cover the total U.S. unfunded liabilities (Social Security, prescription drugs, Medicare) which are fast approaching $120 trillion.
Read more: http://www.canadafreepress.com/index.php/article/48305
Yesterday I saw a new bumper sticker in Maryland, “Obama cares.” President Obama and his administration must care a whole lot – they love to spend so much money that we are running up a projected fifth year of $1 trillion deficit spending.
The national debt clock is changing red numbers as fast I can focus, reflecting the out-of-control spending in Washington and the weak value of the dollar in conjunction with our disastrous energy policy, high unemployment rates, comatose economic growth, and the rapid rise in welfare.
The public debt today is nearing $16 trillion while U.S. tax revenues are a mere $2.3 trillion. U.S. debt interest alone in 2012 is $3.9 trillion. U.S. debt held by foreign countries is approximately $5.4 trillion.
Total national assets, including small businesses, corporations and households are $91.3 trillion. If we sold them at some unprecedented national auction, that would not be enough to cover the total U.S. unfunded liabilities (Social Security, prescription drugs, Medicare) which are fast approaching $120 trillion.
Read more: http://www.canadafreepress.com/index.php/article/48305
1 comment:
U.S. debt interest is not 3.9 trillion dollars. That would be an interest rate of approx. 25%. The total interest on US debt for fiscal year 2011 was less than 500 billion dollars. I doubt it's gone up 800% in the last year.
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