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U.S. National Debt Clock

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posted on Sep, 25 2006 @ 10:09 AM
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This really scares me...

U.S. National Debt Clock

"The National Debt has continued to increase an average of
$1.55 billion per day since September 30, 2005!"




[edit on 25-9-2006 by psilogod]




posted on Oct, 3 2006 @ 10:57 AM
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i guess this isn't as scary to other people as it is to me.

can you say worldwide economic collapse?



posted on Oct, 3 2006 @ 11:02 AM
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Why would you say worldwide, the earth doesn't revolve around the USA. Quite a few countries are running with balanced budgets and some even have surpluses.



posted on Oct, 3 2006 @ 11:05 AM
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Originally posted by valkeryie
Why would you say worldwide, the earth doesn't revolve around the USA. Quite a few countries are running with balanced budgets and some even have surpluses.


yea but what happens when the countries that the surplus countries rely on crumble because they rely on the US.

i mean, yea you're right, it probably wouldn't be 'worldwide', but all the major players would be affected...almost every developed country.



posted on Oct, 3 2006 @ 11:12 AM
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How do you mean rely on the USA, for what. The US is a importer(user) as oppossed to an exporter which it was before. There are plenty of developing markets for exporting countries to ship to. China, India to name just 2. These 2 countries will probably take over as leading economic countries quite soon.



posted on Oct, 3 2006 @ 11:38 AM
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i don't have any figures handy, but doesn't the US account for the majority of China's exports?



posted on Oct, 3 2006 @ 11:58 AM
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The national debt scares the heck out of me as well. How can we expect our nation of people to manage their finances when the government can not even manage theirs. I'm trying to live my life debt free, not quite there but almost. True freedom is not having to worry about paying rent, mortgage, car payments etc. This truely gives you the freedom to escape from the grind and the prison in which they want us to live. It brings fear and anger to my heart to know that we are nearly 9 trillion dollars in debt with not even close to that amount of money in circulation nor does the u.s. even have that much in gold reserves. You should be scared!! Do your research, ever wanted to know whom we owe all that money too? We are selling our national sovereignty one fake dollar at a time.



posted on Oct, 3 2006 @ 03:25 PM
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Photobug, thanks for this interesting link. It reminded me, however, of the real U.S. national debt figures revealed in the 2006 book just republished by U.S. Congressman Jim Cooper of the U.S. House Budget Committee. Rep. Cooper has appended his explanatory foreword to the 2005 Financial Report of the United States Government which was originally published by the U.S. Department of the Treasury on December 15, 2005. Very favorably reviewed on the C-SPAN TV channel and elsewhere, here are its publishing specifics:

Financial report of the United States -- the official annual White House report. Publisher: Nelson Current. Copyright 2006. Nashville, Tennessee.
ISBN: 1-5955-5080-1 Price: $14.99 Paperback.

Mr. Cooper uses the accrual method of accounting (recommended by the economist Alan Greenspan, among others) to display the real U.S. 2005 U.S. budget numbers. According to the ATS rules respecting copyright, I can only quote briefly from the book. Here's one good number summary from his foreword:


..............................................President's Budget.........Financial Report
2005 Deficit:...............................$318.5 Billion.................$760 Billion
National Debt & Commitments:.....$8.3 Trillion...................$49 Trillion
Your Share:.................................$28,000........................$156,000

As Mr. Cooper says, "Does the column on the right look like America, or Argentina?"..."How could the President's Budget and (this) Financial Report be so different? The answer is different yardsticks. The Budget measures government by looking at cash and obligations, i.e., primarily when dollars are received and spent. The Financial Report, on the other hand, uses the same measuring method that all large American businesses are required to use -- 'accrual' accounting. Both ways of measuring are important if you want a clear understanding of your financial position. ...Accrual accounting means recognizing income when it is earned and expenses when they are incurred, not just when cash changes hands. This is a vital distinction. (Accrual accounting) helps you better understand the bills you have committed your children and grandchildren to pay.

Quoting Alan Greenspan (former Chairman of the U.S. Federal Reserve Board): "Scoring the U.S. budget on an accrual basis -- the private sector norm and, I believe, a sensible direction for federal budget accounting -- would better underscore the tradeoffs we face. Under accrual accounting, benefits would be counted as they are earned by workers rather than when they are paid out by the government."

The Financial Report of the United States includes letters from David M. Walker, Comptroller General of the United States as well as head of the U.S. Government Accountability Office (GAO). His letters contain "some of the most devastating analyses of America's current financial position, including his conclusion that America has a 'broken business model'."

Another nerve-rattling zinger from Mr. Cooper: "The deficit is not 2.6% of Gross Domestic Product (GDP) and shrinking, as we are frequently told, but 6.2% of GDP and growing rapidly."

[edit on 10/3/2006 by Uphill]



posted on Oct, 3 2006 @ 03:42 PM
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Thank you for the true numbers. I own my own corporation and fully understand the differances between accrual and cash basis. Both methods still show the obvious. I have also noted in doing my own research they do everything possible to disguise these numbers. What we need is an Audit of the fed. Call and write your congressman. If the united states were a "corporation" there would be a lot of heads rolling.



posted on Oct, 3 2006 @ 04:25 PM
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Ok, I'll call them. But, be sure to vote at every election also. "They" don't want us to think it matters to vote, but it does.

Many U.S. Congressional seatholders may be ousted this year. I just hope that not all Republicans are defeated, because when the Democrats have it all their own way, they tend to "lose it" also. But the scandal over the mistreatment of underage Congressional pages is just beginning to grow (see coverage on "Larry King Live" tonight, or read the show transcript tomorrow if you can't watch TV then) and it may lose the Republicans their base. Talk about family values.....time will tell.



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