Leap in U.S. debt hits taxpayers with 12% more red ink

Leap in U.S. debt hits taxpayers with 12% more red ink

www.usatoday.com

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

(visit the link for the full news article)

This just shows that Bush and now Obama are twins when it comes to the economy. They both have borrowed and spent us into oblivion along with the crooks in Congress.

It's sad because republicans will make excuses for Bush and democrats will make excuses for Obama.

This supports what Ihave been saying for awhile.

It's not about Wall Street greed or poor people who can't pay their bills. These two things have always been with us.

It's about out of control spending in Washington. They do nothing but waste and spend our money and then try to blame everyone else.

Obama says we're out of money and we can't sustain the debt yet he keeps spending and burying us in more debt.

Let me reapeat this because it's extremeley important.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

This means that government debt QUADRUPLES the debt owned by Americans for things like house notes and car payments.

How any American can support this Behemoth is beyond me. They get so wrapped up in political labels and anthing Obama and the democrats are doing now will be supported even though it's bankrupting the nation.

www.usatoday.com
(visit the link for the full news article)

Sadly, you will see many here who will rely on the old tactic...

"President 'X' inherited the problem from ......"

When in reality - we (the American citizens) inherited this problem from the Republican and Democratic Party (yes - I used the singular - they ARE one party).

All of these careerist politicians and corporate appointees have done since 100 years ago is fleece the American people.

Only now, at the point of non-sustainability, do we start to realize that their scheming and contriving everything from wars to welfare, have been constructs to maximize and maintain the revenue flow INTO the supranational bank cartel that owns us. Even state boundaries are irrelevancies at this point.

And the worst part is, nary one of them will reveal the depth of the corruption and collusion involved. Treason and crimes against humanity are their tools of the trade..., and we are mesmerized by their showmanship and the glamor of their never-ending 'campaigns' to convince us that:

A: It's not their fault,
B: no one could have foreseen this turn of events,
C: they are as much victims as we are,
D: they have EXPERTS who will solve these problems,
E: the corporations and governments are NOT to blame,
F: they need more time and money (from us), and
G: they deserve our total respect and cooperation.

But in the end, they are ALL on the same team, not working for us, but in spite of us. And their friends and families will be well-off and cared for for the rest of time.

Meanwhile, it's our duty to give them whatever they want, otherwise its all OUR fault.

reply to post by Maxmars


Great post.

The politicians always blame everyone else when they are the ones that are the crooks.

The American people have to stop treating these people like heroes. Obama smiles and says trust me and then begans to bury this country in debt while taking control of private industry.

This happened with Bush after 9/11. All of these politicians love crisis because it's the time when the American people will allow anything to happen.

We give politicians control of trillions of dollars and we look the other way while they lie, waste and spend money that hasn't even been created yet.