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Thread: Total US debt over $18 trillion

  1. #1

    Default Total US debt over $18 trillion


  2. #2
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    Who owns all this debt?
    Who Owns the U.S. National Debt?
    The Biggest Owner Is You!

    The U.S. debt is nearly $18 trillion. Most headlines focus on how much the U.S. owes China, which is the largest foreign owner. However, the biggest owner is actually the Social Security Trust Fund, aka your retirement money. How does that work, and what does it mean?

    The U.S. Treasury manages the U.S. debt through its Bureau of the Public Debt. The Bureau has broken out the debt into two main categories: Intragovernmental Holdings, at $5.060 trillion, and Debt Held by the Public, at $12.572 trillion (as of June 30, 2014)

    Intragovernmental Holdings - Nearly 30% of the Federal debt is owed to about 230 other Federal agencies. Why would the government owe money to itself?

    MORE- http://useconomy.about.com/od/moneta...ional-Debt.htm

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    Default M0rmon Says....

    "His column was useless pablum. As is much of about.com." (Oops, was this copyrighted material?) http://www.blackjacktheforum.com/sho...l=1#post144842

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    Here is one reason: Walmart selling Chinese cheap stuff at inflated prices...


  5. #5

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    It's amazing how many Chinese slave goods line the shelves at your local Wally World. That store is so un-American that it's laughable at this point. When you find out where most of the products come from it all comes full circle and you can see a pattern. American brand that is probably headquatered in America, but the jobs and factories have been moved overseas. I believe that Wally World is the largest employer in the U.S., what a dangerous web those corporate whores weave.

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    Quote Originally Posted by Blitzkrieg View Post
    It's amazing how many Chinese slave goods line the shelves at your local Wally World. That store is so un-American that it's laughable at this point.
    My father in law bought an American Flag there, it said made in China on it.

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    Quote Originally Posted by Blitzkrieg View Post
    It's amazing how many Chinese slave goods line the shelves at your local Wally World. That store is so un-American that it's laughable at this point. When you find out where most of the products come from it all comes full circle and you can see a pattern. American brand that is probably headquatered in America, but the jobs and factories have been moved overseas. I believe that Wally World is the largest employer in the U.S., what a dangerous web those corporate whores weave.
    For me there is a fundamental wrong in allowing American corporations do in other countries what they cannot do in their own country. This has resulted in thousands of lost jobs for American citizens. We should have an "America first" policy. That only makes sense. To continue down this road to extreme globalization will mean that America becomes a mirror image of the majority of the world, meaning that our middle class will eventually disappear and we will have only the haves and the have nots and nothing in between. We need to lay down the law to American corporations; if they don't abide by sensible "America first" policies, their American corporate status should be revoked.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

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    Quote Originally Posted by aslan View Post
    For me there is a fundamental wrong in allowing American corporations do in other countries what they cannot do in their own country. This has resulted in thousands of lost jobs for American citizens. We should have an "America first" policy. That only makes sense. To continue down this road to extreme globalization will mean that America becomes a mirror image of the majority of the world, meaning that our middle class will eventually disappear and we will have only the haves and the have nots and nothing in between. We need to lay down the law to American corporations; if they don't abide by sensible "America first" policies, their American corporate status should be revoked.
    Did you discuss what you mention above with Mittens Romney (Bain) when he was prominent in that area of National disgrace? Your Party of God (GOP) remains a disgrace, but not much behind the other mob, I must admit.
    Thank Jupiter that M0rmon idjit never made President; but he came close.

    Also, thank Zeus that this rabid warmonger below never made it either... but Dubya did. Eeek

    Last edited by Katz; December 3rd, 2014 at 01:58 AM. Reason: Baseball Mitt

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    Quote Originally Posted by Katz View Post
    Did you discuss what you mention above with Mittens Romney (Bain) when he was prominent in that area of National disgrace? Your Party of God (GOP) remains a disgrace, but not much behind the other mob, I must admit.
    Thank Jupiter that M0rmon idjit never made President; but he came close.

    Also, thank Zeus that this rabid warmonger below never made it either... but Dubya did. Eeek
    I'm not sure what "my party" means. I'm registered as a Democrat, if that means anything. In this country, which is not a Federal Parliamentary Constitutional Monarchy, you can vote for whomever you want. Is it different where you live?

    If McCain had made it then Sarah Palin would have been one step away from the White House. They say the best man for the job is a woman.

    BTW, I think I saw you in Ferguson, Missouri, yelling through a megaphone. Why did you run when the national guard approached you, Were you afraid you had said something wrong? Name:  smiley-talk005.gif
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    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

  10. #10

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    Quote Originally Posted by DDutton View Post
    My father in law bought an American Flag there, it said made in China on it.
    OMG are you serious? That's just too much. But somehow I am not surprised and believe you. I am personally banning all Chinese made products. I will NOT buy them at all.

  11. #11

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    Quote Originally Posted by aslan View Post
    For me there is a fundamental wrong in allowing American corporations do in other countries what they cannot do in their own country. This has resulted in thousands of lost jobs for American citizens. We should have an "America first" policy. That only makes sense. To continue down this road to extreme globalization will mean that America becomes a mirror image of the majority of the world, meaning that our middle class will eventually disappear and we will have only the haves and the have nots and nothing in between. We need to lay down the law to American corporations; if they don't abide by sensible "America first" policies, their American corporate status should be revoked.
    I agree, put America first. But sadly to say that's not the way things are being done. To paraphrase Celente, "Americans have exported their brains to the Chinese." I think he is right whether the corporations chose to do what they did just to boost their net income, or whether big brother via laws and EPA doctrine forced them to move their business overseas. It all boils down to greed and a hollowed out America and people wonder why gaming across the country is taking a beating along with casinos downsizing the business models and closing their doors. Does anyone think the people are going to go out and splurge when there are no jobs? Go figure.
    Last edited by Blitzkrieg; December 3rd, 2014 at 08:59 PM.

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    No worry! The government is very capable of raising the debt ceiling!

  13. #13

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    The debt ceiling may be raised but what will it cost the people? What will it cost? What new form of austerity will be pushed onto the backs of the unsuspecting populace? I think 4th quarter earnings reports will be dismal across the board once when the numbers are reported or cooked. There are very interesting things happening with commodity prices that has my attention. Oil has dropped hard and gas at the pump is less expensive, that's a lot of tax dollars that the government is not going to collect if prices remain low and I wonder how that will affect the overall economy.

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    Though U.S. government debt is perhaps the most widely held class of security in the world, as of the end of September 28.4% of the debt (about $4.76 trillion) was owed to another arm of the federal government itself. The single biggest creditor, in fact, are Social Security’s two trust funds, which together held $2.76 trillion in special non-traded Treasury securities (16.5% of the total debt). (Social Security revenues exceeded benefit payments for many years; the surplus was required by law to be invested in Treasuries.)

    Another big holder: the Federal Reserve system, which collectively held nearly $2.1 trillion worth of Treasuries (12.4% of the total debt) as of last week. (The Fed’s holdings are included in the “debt held by public” category.)

    In fiscal 2013, which ended Sept. 30, net interest payments on the debt totaled $222.75 billion, or 6.23% of all federal outlays. (The government paid out an estimated $420.6 billion in interest, but that included interest credited to Social Security and other government trust funds, as well as a relatively small amount of offsetting investment income.)

    By comparison, debt service was more than 15% of federal outlays in the mid-1990s; the share has fallen partly because lower rates have held down interest payments, but also because outlays have risen substantially: up 39.4% over the past decade.

    More: http://www.pewresearch.org/fact-tank...u-should-know/

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    I just summoned our former gummint auditor, Comptroller Aslan to explain all that...

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