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June 16, 2009
Debt Is Already at $250,000 per American
Every man, woman, and child in America is now a quarter of a million dollars in debt:
David Walker, the former US Comptroller General, says that the federal debt level is approaching $55 trillion and if you add in the what is owed on the state and local levels — plus personal household debt — it adds up to $75 trillion in obligations.
Walker, who now heads the Peter G. Peterson Foundation, named for the co-founder of the Blackstone Group, warned that without fiscal restraint, Uncle Sam may be guaranteeing that our future is not as prosperous as our past.
At the $75 trillion deficit level a family of four owes $1 million, he said.
Thanks to Social Security and Medicare, the debt is automatically growing by $6,600 per year per American. But we'll look back on this mess with nostalgia, when Obama's planned seizure of the entire healthcare industry makes these numbers look manageable.
On a tip from mega.
Posted by Van Helsing at June 16, 2009 8:00 AM
Comments
Can the Gobment just have the 20 or 30 Illegals that I support (through taxes) line up outside my front door each Friday?
Let's cut out the middleman.
I'll just hand them $20s and the Gobment won't get their union cut.
I will demand, however, that they say 'thank you' in english as they get my hard earned cash.
Posted by: Oiao at June 16, 2009 8:13 AM
No wonder my back is so sore. Even in large denominations, that's a heavy load. What scares me most, though, is that this is a set-up to impose more socialism. Why do we have to keep repeating the bad parts of history? Why?
Posted by: Judith M. at June 16, 2009 8:23 AM
Personally, I think I'm gonna declare bankruptcy.
Posted by: Lambchops at June 16, 2009 8:34 AM
From Drudge - ABC plans to stifle opposing viewpoints including Republicans to socialized medicine ... desires to project a unified voice from White House with Dear Leader's scheme to nationalize the health care industry.
http://www.drudgereport.com/flashaot.htm
Posted by: ZMarshall at June 16, 2009 8:51 AM
Let's see.....small business and working families are leaving California, big business and the wealthy are leaving the country. Anybody see a pattern here? I'd like to see how the statist government is going to pay for all this debt WITH NO $$$$$ COMING IN!
Posted by: JoeShmoe at June 16, 2009 9:08 AM
More debt to pile on the shoulders of ATLAS J. PUBLIC all in the name of keeping the demacreeps wealthy
Posted by: SPURWING PLOVER at June 16, 2009 12:52 PM
All who enter here are washed clean, Winston. The execution of our sentences is relatively unimportant. By the time they're finished with us, there will be nothing left of us but sorrow for what've done, and love for big brother..
George Orwell, 1984
The tears well up in my eyes when I hold my youngest grandchild. I can't stop thinking about this crime of the century: The noose around all of our necks. Committed on our watch. My eldest grandson pulls down my father's book: About the B-17; The mission: How his ship was shot down; The time that he spent awaiting liberation. He well understands that at that time, the United States was the world's last great hope He's infatuated with the greatest generation, their freedoms, their duty to God and country, in that order.
If we let these communists get away with completing their "plans" for us, we've let down all future generations.
Posted by: batman at June 16, 2009 10:32 PM
