Christian Debt Recovery

National Debt News

February 28th, 2009 |

Author: Gavin

national debt news

The National Debt – What It All Indicates

There was great news on the national debt recently. And for the first time, this debt has practically pass the 14 trillion dollar mark in the USA. It is a staggering number, but what does it all truly mean? To realize the numbers, you truly need to break them down.

This $14 trillion debt is clearly just a misrepresentation of the entire debt of this nation. I know that you already thought that it was just a joke simply because it couldn’t be as high as what the figure says. But this report is true, and an additional truth is this was only a fraction of the actual figure of the debt that we are facing proper now. How can this be? Easy, the government just does not count certain debts. It calls these “unfunded liabilities”. This situation is also like listing all of your debts but you don’t count your mortgage as one of your debt. Any private citizen or business that employed this distinctive accounting approach would end up in prison, obviously, but not our lovely government!

What are the actual numbers? So, if you wish to know the real figure of the national debt as of January 8, 2011 is $14,017,034,000,000. The real numbers are, of course, significantly scarier. Total unfunded liabilities are $112 trillion. Yes, about 9 times the official debt figure. These unfunded liabilities breakdown as roughly $14 trillion owed on social security, $19 trillion on the prescription drug program [thanks President Bush!] and $77 trillion on Medicare. The share of each and every American of this abomination is really a million dollars. So, do not forget send your check today.

The numbers are so huge it really is truly hard to even grasp them. Let’s see if we can try an approach that may assist detail the problem we face. The national debt was just over $5 trillion dollars in the year 2000. In just ten years this $5 trillion national debt had been triple. Let’s take a have a look at our own financial situation. Could you afford to triple your debt? Needless to say, we won’t let this factor to happen.

Credit card debt will be the greatest factor to use to describe the national debt. Nobody really likes to speak about it, but it can eat you alive should you do not take care of it. The truth we have officially passed the $14 trillion dollar debt mark is not great news, but issues are even worse whenever you regarded as unfunded liabilities.

What are the solutions for this dilemma? Nobody seems to know at this point. And that can be the scariest thing that we will ever face in the next few years to come.

Knowing everything about the national debt is a bit complicated, but if you have a bit knowledge about current national debt, you can plan your future.

About the Author

Alexis is a fiction writer, poet, lyricist, documentarian, and did I mention poet? I have written over 1,700 pieces of flash fiction, a genre that, as the novel and the symphony once did, is just waiting for its time to shine.

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