This is just to update you onÂ what has happened to our financial picture in just 11 months.Â Our NATIONAL DEBT has increasedÂ 1.5 TRILLION DOLLARSÂ and our U S UNFUNDED LIABILITIES has increased right at 4 TRILLION DOLLARS.
WeÂ can no longer afford to ignore the financial crisis that we are currently in.Â We must send people to Washington that will stand their ground and make the cuts needed to get us out of this crisis.Â Big corporations need to realize that if Amercia fails, much of the rest of the world will fall as well.Â Who will buy their products then?
This the the current information as of: July 27, 2012Â -Â www.usdebtclock.org
I really do notÂ 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.Â If I am wrong about what I am saying,Â 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.
As of today's date, August 27, 2011 onÂ -Â www.usdebtclock.org:
Â NATIONAL DEBT -Â $ 14,658,151,987,865Â Â 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.Â The part that concerns me and really does not make any sense or add up in my understanding is this next part.
US UNFUNDED LIABILITIESÂ -Â $Â 115,286,546,522,463Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â (These figures are changingÂ so fast that it is hard to get a set figure.)Â Â Â Â In the breakdown for this amount these catagories are listed:
Social Security LiabilityÂ -Â Â $ 15,200,052,987,870
Medicare LiabilityÂ -Â Â $ 79,975,667,854,098
Prescription Drug LiabilityÂ -Â Â $Â 20,110,841,721,982
I thought we were paying for all this out of our paychecks!!!!Â At least that is what my paycheck says.Â What do they mean by unfunded?
The other problem I am having about all this is that these figures do not make any sense.Â EveryoneÂ keeps talking about the fact that we owe 14 trillion dollars in National debtÂ - so where does the 115 trillion dollars fit into the picture?Â Is this on top of all the above figures?Â Isn't a liability a debt?
I have a real problem with the next breakdown:
LIABILITY PER TAXPAYERÂ -Â $ 1,029,223Â Â Â Â This is listed along with the 115 trillion dollar unfunded liability section.Â Â I may not know that much about how to set up the financial breakdown sheets, but I do know now to add.Â This does not add up at all with what we are being fed by our government or the media.
If I am wrongÂ -Â please educate me.Â All I do understand for sure is that we have to stop the government from getting us into any moreÂ debt.Â Our lands and we the people (as chattle or slaves) are the collateral for the debt we are accumulating.Â This has got to stop!!!