Our National Debt
We are quickly approaching $17 trillion, on the path to $22 trillion by 2017.
At one time we believed that we were passing on a problem to our children
or maybe our grandchildren. While I believe that we are letting go of that
notion and realize this is happening now,
let us review what a trillion really is?
For that matter what is a million or a billion? If we borrowed a million dollars and promised to repay the loan at the rate of one dollar per minute 24 hours a day; - it would only take a little less than 2 years to repay a million, - for a billion dollars, it would take 1900 years, - and for a trillion dollars, it would take 1.9 million years.
But the truth is our national debt total or per person of $50,000 for every man woman and child is but a fraction of the real number.
The real problem lies within our unfunded promises, Medicare and Social Security are the real issues and we have not set aside any saved Funds for these costs so they must be taken into account as unfunded promises, and these are the programs when dealing with budgets and sequestration that are un-touchable politically and for the sake of our aging population.
This puts our real number between $60-80 trillion, your portion is near $200,000 and that is for every man, woman and child.
If you believe that it is time for a true systemic change to a failing economic system. Please read the details in the book A Different Path and join the cause by supporting the petition
On 60 Minues our former
US Comptroller explains
the complete fiscal cancer.
including our debt, social
security and medicare.
CATO Institute gives a
current review of the
immediate future of our
debt & entitlements.