This is just to update you on what has happened to our financial picture in just 11 months. Our NATIONAL DEBT has increased 1.5 TRILLION DOLLARS and our U S UNFUNDED LIABILITIES has increased right at 4 TRILLION DOLLARS.
We can no longer afford to ignore the financial crisis that we are currently in. We must send people to Washington that will stand their ground and make the cuts needed to get us out of this crisis. Big corporations need to realize that if Amercia fails, much of the rest of the world will fall as well. Who will buy their products then?
This the the current information as of: July 27, 2012Â -Â www.usdebtclock.org
_____________________________________________________________________
I really do not know that much about the way you are to set up a financial statement or how to display the different types of financial groups, espically as involved as our governmental expenses are, but this website is just too scary and it really looks to me like we are in a lot more financial trouble than we are being told. If I am wrong about what I am saying, will someone out there who knows more about these financial work sheets, please help me out by explaining to me, in a way I can understand, the informantion on this website.
Â
As of today's date, August 27, 2011 on - www.usdebtclock.org:
 NATIONAL DEBT - $ 14,658,151,987,865  Â
TOTAL NATIONAL DEBTÂ -Â $ 54,881,811,067,458
US GROSS DOMESTIC PRODUCTÂ -Â $ 14,855,486,342,486
TOTAL NATIONAL ASSETSÂ -Â $ 76,179,903,768,902
I get all this. The part that concerns me and really does not make any sense or add up in my understanding is this next part.
Â
US UNFUNDED LIABILITIES - $ 115,286,546,522,463                                  (These figures are changing so fast that it is hard to get a set figure.)    In the breakdown for this amount these catagories are listed:
Social Security Liability -  $ 15,200,052,987,870
Medicare Liability -  $ 79,975,667,854,098
Prescription Drug Liability -  $ 20,110,841,721,982
I thought we were paying for all this out of our paychecks!!!! At least that is what my paycheck says. What do they mean by unfunded?
The other problem I am having about all this is that these figures do not make any sense. Everyone keeps talking about the fact that we owe 14 trillion dollars in National debt - so where does the 115 trillion dollars fit into the picture? Is this on top of all the above figures? Isn't a liability a debt?
I have a real problem with the next breakdown:
LIABILITY PER TAXPAYER - $ 1,029,223    This is listed along with the 115 trillion dollar unfunded liability section.  I may not know that much about how to set up the financial breakdown sheets, but I do know now to add. This does not add up at all with what we are being fed by our government or the media.
If I am wrong - please educate me. All I do understand for sure is that we have to stop the government from getting us into any more debt. Our lands and we the people (as chattle or slaves) are the collateral for the debt we are accumulating. This has got to stop!!!
Â
Â
recommend
Facebook
Twitter
bookmark 
print
Comments: 9
The part that the governments been spending the money that we have been putting in for years toward social security and madicare, that part I was aware of as well as how it was suppose to work. But what I didn't get was the 115 trillion dollar amount. It can not just be what we have put in for social security and medicare. We could not have put in that much over this period of time. It has to be other obligations that the government is responsible for paying.
How can we trim down that amount? We can not let the government do this to us. I suspect alot of this amount is going for Obama Care. Can we change anything with the next election or are we stuck with Obama Care?
This news only makes me even more upset. So you are saying that the $115 trillion is only social security and medicare - that means we are in even more debt because of Obama care!!! We can not sit back and allow this to happen to America. We need to elect men and woman who will make the hard choices and stick to them.
Wow... and I thought my parents had been in a lot of debt. Thanks for sharing this Eileen, it's obvious we need to do something fast!
We need to pass on this information. I would appreciate any help you can give me in this area.
Sorry to take so long to respond to your post. I have been taking care of my mother before she died.
I do appreciate your sharing this with others. If you are uncertian as to whom to vote for President and are willing to accept a suggestion. Rick Perry is one that will stick to his beliefs and fight Congress. He has done a great job here in Texas and he is a good man. We have to balance our Texas budget each year according to our Texas laws and he has managed to do so for the past 8 years without raising taxes. He is the type of man that will do what it takes to make this nation strong again.
The real debt is in relation to resource depletion of our planet. We have no
way to repay, but we can work towards a model of sustainability...the name
of our Gather group.
I do kind of get what you are saying - but not reallly. I know that natural resources are the true wealth but the national debt will be collected by our debtors if we do not do something about it. Then they will own our natural resources.