Total U.S. borrowing 1776-2000 = $1.01 trillion
Tuesday, August 14, 2007
Total U.S. borrowing 1776-2000 = $1.01 trillion. That's not 1976 that's 1776 please make note of that. 224 years to be exact.
Anyone care to guess what our current president has borrowed while on the job?. I'll give you a minute to make a guess.........
Well if you Guessed $1.05 Trillion in the last 7 years you were right on the money no pun intended. People are going to say "well we had to because of 9/11". Wrong.... Throwing money at a problem should never be a end all solution, it is plain and simple ignorance on the top tier level of government that caused this.
Link
The current U.S. Treasury comptroller David Walker is screaming his head off trying to warn us that judgment day is coming and it is not going to be pretty.
Reasons:
- Health care cost
- Retirement of baby boomers
- No one saves money anymore / credit addiction
- Reliance on foreign lenders
- Unsustainable path on energy
- Fiat (paper) money devaluation at records rates. Since 2001 the dollar has been devalued by 60%.
- Lack of fair trade with other countries on a 1 to 1 ratio
- Greed in the housing markets over the past 7 year
- Over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government”
What the Price of Gold is Telling Us by Ron Paul.
Leave your response