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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

national debt
PostPosted: Mon Apr 20, 2009 5:41 pm Reply with quoteBack to top

"The federal government keeps two sets of books…the set the government doesn't talk about reports a more ominous financial picture."
--Dennis Cauchon, USA TODAY

We've all heard about the federal debt. But most of us haven't heard the truth.
Politicians will tell you that the federal debt is around $12 trillion.

That sounds bad enough—but it gets even worse. Together with unfunded liabilities (all of the benefits that the government has promised to seniors, Baby Boomers, and other citizens) our nation is in the hole for nearly $61 trillion dollars.

That's more than $199,000 for every man, woman, and child in America, and it's growing every day.

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stillinit
Flash in the pan


Joined: 16 Dec 2008
Posts: 99

manipulated numbers
PostPosted: Mon Apr 20, 2009 9:08 pm Reply with quoteBack to top

I do not believe that there are any numbers put out that are not manipulated in some fashion. Note the monthly unemployment revisions upward. It would scare the he** out of investors to think that $750K jobs were lost so lets just make it $575K (you have to wonder how that is a more palatable number).

Here is a pretty good explanation of how the BLS determines the unemployment numbers today vs. 20-30 years ago. Today's U3 number vastly underesimates the number of people currently unemployed. The more correct % is actually the U6 number.

You also does need to take into account the average hours worked per week, which at my last ck was about 33.5 (believe that was Feb's #).

I believe that things are much worse than anyone at the Federal level wants us to believe.

http://ebr.eller.arizona.edu/A.....Rates.aspx
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angryvoodoo
Demolition Man


Joined: 20 Nov 2007
Posts: 2110
Location: ny

Re: national debt
PostPosted: Wed Apr 29, 2009 5:25 pm Reply with quoteBack to top

would you believe its not butter?

its called marketing

the govt is a brand and the message is
'believe'

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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: national debt
PostPosted: Wed Apr 29, 2009 9:16 pm Reply with quoteBack to top

Fortunately, believing is seeing.

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asamebrandnewme
Dud?


Joined: 30 Oct 2008
Posts: 9

Re: national debt
PostPosted: Mon May 11, 2009 2:43 pm Reply with quoteBack to top

The United States will continue to issue bonds and ask other countries such as China and Japan to purchase them in order to tide over difficulties. It's an infinite circle and it looks as a good way. However, the United States is lossing its initiative because of becoming a larger and larger debtor.

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brettbuchanan
Flash in the pan


Joined: 15 May 2009
Posts: 32
Location: Seal Beach, CA

national debt
PostPosted: Sat May 16, 2009 2:07 am Reply with quoteBack to top

http://www.pgpf.org/getinvolved/citizens-guide/

That is a link to the Peter G. Peterson foundation of which David Walker is now President (as in ex-Comptroller General, GAO David Walker).

Our national debt is $54 trillion dollars when entitlements are accounted for. And when you add the $10.5 trillion dollars in unfunded bailout and stimulus funding already committed by the Fed and Treasury, we're into the mid $60 trillion dollar range. My guess is that by the time this whole crisis is over we will have breached $70 trillion dollars in total commitments/debt owed by the US government.

Have a look at the report. It's sobering to say the least.

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