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| Economy |
| $63.8 trillion |
| 2009-05-30 |
| Do I recall Osama or Zarqawi or one of those suggesting that if they could push US national debt to over $40T that the US would be lost forever? |
| Posted by:gorb |
| #7 More like "Welcome to Zimbabwe". |
| Posted by: Jack is Back! 2009-05-30 18:53 |
| #6 Welcome to Argentina. |
| Posted by: newc 2009-05-30 12:13 |
| #5 It's very simple, really. The USG has promised to give every American citizen, and even others, endless millions of dollars. This means that either they were lying, and won't give that money, or they will actually give those millions, but they will be worthless. As such, they have failed one of the most basic rules of government. A government must deliver what it promises, or it will cease to be the government. |
| Posted by: Anonymoose 2009-05-30 12:01 |
| #4 It's the public pensions that is going to really screw with our economy. As the economy continues to drag, the required payments into the funds to cover the too-generous benefits voted over the past decade will kill various local and even state governments. They won't be able to do anything else, and that will cause them to raise taxes even more, thus dragging the economy down further. Nice negative-feedback-loop they have there ... |
| Posted by: Steve White 2009-05-30 11:06 |
| #3 Bumper Sticker suggestion: Obamaechtomy 2012 |
| Posted by: HammerHead 2009-05-30 08:24 |
| #2 If the pension and insurance funds become exhausted and interest on gov't debt cannot be paid, the gravy train will have come to a stop and ponzi scheme will finally be up. I seriously doubt today's society will have the dicipline to stand in line for soup. Some very 'anti-social networking' is likely to occur. Just my guess. |
| Posted by: Besoeker 2009-05-30 08:10 |
| #1 The Dallas Fed puts the present total for unfunded pension & health care benefits at $99 trillion. I'm not certain but I'd imagine that includes state & local pension bombs as well as the federal total. |
| Posted by: AzCat 2009-05-30 06:18 |