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#1) As of December 1st, 2009, the official debt of the United States government was approximately 12.1 trillion dollars.
#2) To pay this 12.1 trillion dollar debt would require approximately $40,000 from every single person living in the United States.
#3) Now the U.S. Congress has approved an increase in the U.S. government debt cap to 14.3 trillion dollars. to pay this increase off would require approximately $6,000 more from every man, woman and child in the United States.
#4) The U.S. government's debt ceiling has been raised six times since the beginning of 2006.
#5) So how hard is it to spend a trillion dollars? If you spent one dollar every second, you would have spent a million dollars in twelve days. At that same rate, it would take you 32 years to spend a billion dollars. But it would take you more than 31,000 years to spend a trillion dollars.
#6) When Ronald Reagan took office, the U.S. national debt was only about 1 trillion dollars.
#7) The U.S. national debt has more than doubled since the year 2000.
Originally posted by keepureye2thesky
How much money is in circulation? Paper money. Anyone know?!
Not numbers on a computer. Physical currency!! Just wondering if
the amount in circulation if all seized today would be enough to pay
the 12.1 Trillion Dollars.
[edit on 15-8-2010 by keepureye2thesky]
Originally posted by ararisq
Originally posted by keepureye2thesky
How much money is in circulation? Paper money. Anyone know?!
Not numbers on a computer. Physical currency!! Just wondering if
the amount in circulation if all seized today would be enough to pay
the 12.1 Trillion Dollars.
[edit on 15-8-2010 by keepureye2thesky]
My understanding is that 800 billion was in circulation at the start of 2008 and sense then we've print up an additional 2 trillion dollars.
Originally posted by ararisq
reply to post by Unium
The scary thing is we could pay off our debt by nationalizing 2% of the notional value of the OTC derivatives using the numbers from the Bank for International Settlements. Its not the government mismanagement of our future tax dollars that will sink us - its the derivative bubble that will. Both private and public management now base their systems off future "profits" - the government bases it on future taxes. Now they base laws on it as well - they steal from Program B in the year 2015 to fund Program A in 2010 and call it a balanced 'funded' budget. It is sick - all common sense has left the building.