The year was 1982 and America was the largest creditor nation on earth. By 2005, the U.S. was the largest debtor nation on earth. In 1980, the national debt had yet to eclipse the $1 trillion mark and had accumulated around $850 billion during the first 204 years of this republic. By 2007 or 24 years later, our debt had risen to more than $7 trillion and continues straight up.


Today, China alone purchases in excess of $1 billion per day of our debt. Japan owns billion and billions of U.S. debt instruments as do the Arabs and so on. But, these are reasonable countries and I believe that they would understand that we are broke and just forgive all of those billions; right after we gave them California and Yellowstone Park.


So far, I have been talking about funded debt. Unfunded debt is $99.2 trillion at current levels...and rising hourly. This is the debt that we owe to ourselves in the way of Medicare, Social Security, government retirements and so on. In other words, promises that can't be kept and so they won't. As a reminder, the unfunded debt is greater than the total wealth of all American households.

Many people want to blame one administration or another because that's easy. It isn't true, it's the system that's broke, not any one administration.

Views: 90

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a blog post
6 hours ago
Doc Vega posted blog posts
11 hours ago
Doc Vega commented on Doc Vega's blog post In Disarray
"cheeki kea Thanks for your support! "
15 hours ago
Burbia commented on Burbia's photo
19 hours ago
Burbia commented on Burbia's video
Thumbnail

IT’S OVER! Trump OBLITERATES IRS as Social Security Just Changed FOREVER!

"The IRS has lost almost one-third of its tax auditors after 2 months of DOGE cuts, report…"
yesterday
Burbia posted videos
yesterday
cheeki kea favorited Doc Vega's blog post In Disarray
yesterday
Burbia commented on Burbia's photo
Thumbnail

What's in Macron's hand? Cocaine bag?

"Russian Spokesperson Maria Zakharova Responds to Macron, Merz, and Starmer’s…"
yesterday
rlionhearted_3 favorited cheeki kea's photo
yesterday
rlionhearted_3 commented on cheeki kea's photo
Thumbnail

remember those days..

"True Story "
yesterday
Doc Vega favorited cheeki kea's photo
yesterday
Doc Vega commented on cheeki kea's photo
Thumbnail

remember those days..

"Ha ha Good one and just about the truth! "
yesterday
Less Prone favorited Burbia's photo
yesterday
tjdavis posted a photo
Monday
cheeki kea commented on rlionhearted_3's status
"Keep the posts coming lionhearted they are all arrive in good form at least in my lonely corner of…"
Sunday
cheeki kea commented on rlionhearted_3's status
"I'll try this..."
Sunday
cheeki kea commented on Burbia's photo
Thumbnail

What's in Macron's hand? Cocaine bag?

" Perhaps a tissue he's used to wipe his nose could be a possibility. Seems what ever it…"
Sunday
rlionhearted_3 commented on Burbia's photo
Thumbnail

What's in Macron's hand? Cocaine bag?

"I’m wondering if anyone on this site has seen anything I’ve ever posted?"
Sunday
Burbia commented on Burbia's photo
Sunday
Burbia commented on Burbia's photo
Thumbnail

What's in Macron's hand? Cocaine bag?

"Macron picks up white powdery substance next to glass of water"
Sunday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted