Archive for November 21st, 2009

US National Debt Unsustainable yet Reid Bill Passes to Senate

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300 Mill citizens paying for 12G$ [giga or trillion] of debt or 39k$ per citizen or 110k$ per taxpayer

106G$ in total unfunded liabilities or 344k$ per citizen

1.876G$ in total tax revenue [the income for US Fed govt]

US Fed spending in nearly double income – the growing debt load is nearing 7x income … THIS IS NOT SUSTAINABLE!!

Source: http://www.usdebtclock.org/U.S. National Debt Clock : Real Time

The US House of Representatives and the US Senate have developed legislation that is unfunded and unsustainable under the current tax base for national income. Both Dem controlled houses have pushed healthcare spending bills that are destined to further increase the national debt. The only options for paying this debtload is to default, devalue, or increase taxes. We may see all three.


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