Posted in Economics

National debt crisis: what does $136 trillion look like?

You know you have a spending problem when your debt extends beyond the solar system.

Congress admits to having already spent $21.5 trillion (that’s $21,500,000,000,000.00) they don’t have. If you are a taxpayer, your share is a little over $58,000. What your senators and representatives would rather you didn’t know is that our reported debt is like an iceberg: what you see is only the tip. 90 percent of the iceberg lies under the surface.

The dirty little secret is that we are obligated to pay around $115 trillion – on top of the national debt – to programs like Social Security, Medicaid, and Medicare.

Think about all the nice things you could buy with $1 trillion. Now think about all the nice things you won’t be able to buy, because for the past few years Congress has acted like a criminal that stole your credit card. Only you can’t call the bank and lock the account; you have to watch them spend your money, sometimes insulting you while they do it.

Altogether, the U.S. federal government has run up a $136.5 trillion bill that will have to be paid, using figures from usdebtclock.org. Accounting for the unfunded liabilities, every single taxpayer in America is currently on the hook for just under $1 million dollars. And that doesn’t count the $10 trillion or so of local and state debt and unfunded liabilities.

Continue reading “National debt crisis: what does $136 trillion look like?”

Posted in Articles Economics

National debt by the numbers: Just how big is $20 trillion?

[Originally published at OpsLens.com]

With our national debt passing the $20 trillion threshold this week, let’s look at some figures that will help us wrap our mind around this unfathomable amount of money.

To make 20 trillion one dollar bills, it would require commandeering every cotton field in the United States for 19 years (the dollar is actually 75 percent cotton) and 30 years for the Bureau of Engraving and Printing to stamp out the notes. The price tag for printing this vast quantity of bills would cost taxpayers another $2 trillion.

Our mountain of 20 trillion George Washingtons would weigh in at a whopping 22 million tons, which just might actually be enough – with a hat tip to Congressman Hank Johnson – to tip over the island of Guam. Chicago’s 108-story Willis Tower, formerly known as the Sears Tower, weighs about 222,500 tons, so it would take 99 such skyscrapers to equal the weight of our national debt. Guam would have an incredible skyline, which we could easily afford to build when you consider that, adjusting for inflation, $20 trillion would buy 21,000 Willis Towers.

To ship all that money across the Pacific, it would require 758,000 semi trucks and 75 trips with the world’s largest cargo ship. But where would we store it? The world’s largest building – by volume – is the 97-acre Boeing Factory in Everett, Wash., where the aircraft manufacturer assembles airliners like the 747 “Jumbo Jet.” If you were to neatly stack one-dollar bills – without pallets – in every available square inch of the monstrous facility, Boeing would still have to build a second factory to store the rest.

A stack of 20 trillion one dollar bills, if you could somehow keep Congress from snatching it, would reach an incredible 1,357,300 miles into space. Considering that the moon is only 238,855 miles away, you could place five stacks of one dollar bills between Earth and the moon and still have enough bills left to reach over halfway on a sixth stack.

A line of 20 trillion one dollar bills placed end to end would extend 2.3 trillion miles, which would go around the world 93 million times. If astronauts could place the bills in a line into space, it would take light nearly five months to travel that distance.

Continue reading “National debt by the numbers: Just how big is $20 trillion?”

Posted in Economics

Who won World War II?

Detroit slum

From Mark Steyn’s latest column, “Motown’s Biggest Hit!

… [U]nlike European cities, no bombs fell on Detroit. They did this to themselves. And the real rubble is not the ruined buildings, but the ruined people. This is an American city at the dawn of the 21st century, and one in two of its citizens are illiterate. That’s about the same rate as the Ivory Coast, or the Central African Republic …

Hiroshima, Japan (Source: EmergingCorruption.com)

To illustrate the point, consider today’s breathtakingly modern Hiroshima, which was devastated 65 years ago by an atomic bomb.  In contrast, no bomb has ever landed anywhere near the Motor City. But by looking at these images, one would think that Japan was actually the winner of World War II.

We did this to ourselves: Decades of progressive government and naughty citizens managed to destroy what Germany, Japan, and the Soviet Union could not.

Posted in Economics

New movie this fall

“I Want Your Money” is coming to theaters October 15. The special effects won’t match Avatar, but it looks a lot better than any other preview I have seen coming from Hollywood.

Posted in Economics

Impossible to pay off our debt?

This website makes the case that it is now mathematically impossible to pay off our national debt. A very interesting read.

Posted in Economics

At the intersection of irresponsibility and treason

The IMF suggests our national debt will surpass 100% of our gross domestic product in 2015.

Also states that our debt began sharply increasing in 2006. Wasn’t that when our beloved Democrats took over both houses of Congress?

At some point we must begin to ask ourselves – what is treason? The federal government has done more damage to this country than if the Soviet Union had invaded during the Cold War. Now if we captured members of the Red Army, there would be military tribunals and they would be shot. I am NOT advocating such treatment for our elected officials, however, we should realize the gravity of the situation they have placed us in with their lust for power.

Is the destruction of our republic somehow more palatable if it is perpetrated by domestic enemies rather than foreign ones?

Posted in Economics

Why we should NOT bail out Greece

And an EU bailout of Greece would violate their own charter, in case you didn’t know.

Posted in Economics

Mountains of debt

I usually cover matters of national security, but it is all pointless if our own government destroys us economically. Chart from the Heritage Foundation.