Us Debt = $$$ 8,969,803,128,789.47 $$$

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    Thumbs down Us Debt = $$$ 8,969,803,128,789.47 $$$


    NEW WORLD RHINOS: TOTAL US DEBT TO THE PENNY $8,969,803,128,789.47

    Ok, so if we take 8,969,803,128,789.47 and divide it by 300,000,000 people or so than means we should each owe
    about $290,000 each, oh boy we are f*cked !

    Here is a cool debt calculator on the US treasury site

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    Time for the 10 yr cycle of national debt outrage I guess.
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    Quote Originally Posted by anabolicrhino View Post
    NEW WORLD RHINOS: TOTAL US DEBT TO THE PENNY $8,969,803,128,789.47

    Ok, so if we take 8,969,803,128,789.47 and divide it by 300,000,000 people or so than means we should each owe
    about $290,000 each, oh boy we are f*cked !

    Here is a cool debt calculator on the US treasury site
    So what if its $9trillion dollars. Is that big or small? You can't tell. The absolute size of the deficit is simply not that informative. Same goes for an individual's credit card debt. Is a credit card bill of $10,000 big or small? The answer depends on whether you are Bill Gates or a hotel maid. For Bill Gates, it's a drop in the bucket. For a maid, it's huge. The only way to tell the scope of the number is to look at the size of the deficit relative to the size of the economy.
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    Quote Originally Posted by Bobo View Post
    Time for the 10 yr cycle of national debt outrage I guess.
    wow...thinking back..so true
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    Don't we owe alot of that to China?
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    Quote Originally Posted by CryingEmo View Post
    Don't we owe alot of that to China?
    There is nothing inherently wrong with foreigners owning American debt. In fact, these and other investments pouring into the USA help keep interest rates relatively low and the dollar relatively strong.
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    Quote Originally Posted by spunkles182 View Post
    So what if its $9trillion dollars. Is that big or small? You can't tell. The absolute size of the deficit is simply not that informative. Same goes for an individual's credit card debt. Is a credit card bill of $10,000 big or small? The answer depends on whether you are Bill Gates or a hotel maid. For Bill Gates, it's a drop in the bucket. For a maid, it's huge. The only way to tell the scope of the number is to look at the size of the deficit relative to the size of the economy.
    ...ok then, what ?
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    Quote Originally Posted by anabolicrhino View Post
    ...ok then, what ?
    look at the size of the deficit relative to the size of the economy
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    US economic forecast 2007

    U.S. GDP Gross Domestic Product Forecast
    Billion US Dollars. Annual Rate Seasonally Adjusted.

    Forecast Value

    2007 Aug 13,887
    2007 Sep 13,887
    2007 Oct 14,022
    2007 Nov 14,022
    2007 Dec 14,022

    2008 Jan 14,113

    50% Correct 32 40 45 49 53 56
    80% Correct 54 66 75 81 87 92
    Updated Saturday, August 11, 2007



    BEA: News Release: Gross Domestic Product

    Current-dollar GDP

    Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
    6.2 percent, or $204.0 billion, in the second quarter to a level of $13,755.9 billion. In the first quarter,
    current-dollar GDP increased 4.9 percent, or $159.6 billion.

    So, if you take the GNP at about $14 trillion with a ~3% growth

    You still have a $9 trillion of debit


    Congressional Budget Office projections


    Unexpectedly strong revenue growth" has improved the outlook quite a bit, says Mr. McMullen.

    In the CBO projections, for example, the nation's public debt is forecast to fall from 37 percent of GDP in 2006 to 30.5 percent of GDP in 2012.

    (These figure are done with out the compounded interest of the foreign owed debt.)

    Check out the CIA's country profile on the USA

    Inflation rate (consumer prices): 2.5% (2006 est.)

    Investment (gross fixed): 16.6% of GDP (2006 est.)

    Public debt: 64.7% of GDP (2005 est.)

    Budget:

    revenues: $2.409 trillion

    expenditures: $2.66 trillion; including capital expenditures of $NA (2006 est.)

    When the public debt is a higher % of the GDP and investment is a lower % of the GDP, and expenditures are greater than revenues, we have an "negative economic imbalance"

    So, that is why a 9 trillion dollar debt structure that is owned by international monetary corporations(banks) is an important economic indicator of economic stress. This is not limited to the USA it is world wide. The $900,000 billion or so collected from personal income tax is used to pay the interest on this imbalance, so there is really no chance of a recovery, just staying off the inevitable collapse.
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    so we have the biggest debt in the world?
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    Quote Originally Posted by pistonpump View Post
    so we have the biggest debt in the world?
    not by a long shot. japan has debt that is 170% or so of their gdp. I think the Us is average or slightly worse than average.
  

  
 

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