May 22, 200818 yr The Outstanding Public Debt as of 22 May 2008 at 07:22:48 PM GMT is: The estimated population of the United States is 304,036,701 so each citizen's share of this debt is $30,858.50. Here's the site.
May 22, 200818 yr Author I saw a report on this on CNN the other day and finally found something to post on it.
May 22, 200818 yr How do we fix this problem? First of all, stop the bleeding--get Federal spending under control and balance the budget. Some ideas: 1) Get out of Iraq 2) Repeal the Medicare prescription drug benefit 3) Phase in an increase in the Social Security benefit age 4) Immediate mandatory cuts in discretionary spending not related to infrastructure http://en.wikipedia.org/wiki/Image:U.S._Federal_Spending_-_FY_2006.png
May 22, 200818 yr This is a little misleading. At the end of fiscal year 2007, the outstanding debt was $8,925.6 billion. Of that debt, $3,915.6 billion was held in government accounts. Trust funds, and some special funds and public enterprise revolving funds, accumulate cash in excess of current needs in order to meet future obligations. These cash surpluses are generally invested in Treasury debt. The Social Security Administration alone holds $2.6 trillion of federal securities. Of the remaining $5 trillion in debt, the Federal Reserve holds $780 billion. Now I'm not trying to sugarcoat the debt, but you have to remember first that having some Federal debt is actually good for the economy. Its too high, but I have a bigger problem with irresponsible spending than the debt itself.
May 22, 200818 yr U.S. National Debt Graph by Presidents That graph is rather revealing. It seems that the latest Republican Administrations ballooned the debt while Clinton brought it down and the debt actually was at its lowest ebb at the end of (gulp) Jimmy Carter. I know that taxes being higher probably reduced some of that debt, as well as military cuts - but it is interesting that Dems are painted (and probably rightly so) as the big tax guys while the Reps are seen as the fiscal conservative people. Yet the most recent Rep Administrations have skyrocketed the national debt more than anyone. I know there are good answers waiting out there (Cold War, Star Wars, too many military cuts, etc) but it is interesting discussion.
May 22, 200818 yr Author I have a problem with the debt because it means that my grandson, my granddaughter who is due just about any day, and my other grandson due in August are already over $30,000 in debt. I really don't care about me. It's my children and grandchildren I'm worrying about.
May 23, 200818 yr First of all, stop the bleeding--get Federal spending under control and balance the budget. Some ideas: 1) Get out of Iraq 2) Repeal the Medicare prescription drug benefit 3) Phase in an increase in the Social Security benefit age 4) Immediate mandatory cuts in discretionary spending not related to infrastructure http://en.wikipedia.org/wiki/Image:U.S._Federal_Spending_-_FY_2006.png SO try to kill off the old, working people as fast as possible......yeah good idea. How about reforming welfare? How about cut the aid our government gives to other countries except Israel, to 25% of what it currently is? How about every time the UN ask us for "peace keeping" duties we we send them a bill? How about reforming the prison system of the US?
May 23, 200818 yr Double or triple taxes on those who are such big supporters of the war. I am sick of all my tax money and social security as well being spent on this mess. Social Security would be fine if they would keep their dirty hands out of it. And they wonder why most Americans are up to their eyeballs in debt. Our government sets such a good example.
May 23, 200818 yr SO try to kill off the old, working people as fast as possible......yeah good idea. How about reforming welfare? How about cut the aid our government gives to other countries except Israel, to 25% of what it currently is? How about every time the UN ask us for "peace keeping" duties we we send them a bill? How about reforming the prison system of the US? Curious....why no cuts to the aid we give Israel?
May 23, 200818 yr Curious....why no cuts to the aid we give Israel? I believe in the Bible and believe that god favors those who stand with Israel.
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