Government Under Reporting Debt

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Burning MoneyCongressional critters are putting on the most amazing fantasy show witnessed in all of American history - the so called "Debt Ceiling Fight." In this unbelievable blockbuster, pundits and elected officials try to convince Americans that raising the debt ceiling, (i.e. spending more money), will somehow free America from crushing debt. But the biggest fiction in the story is the amount of debt being reported. But the most outrageous fiction in the story is the sum of the debt. The politicians and media continue to report that America is $14 Trillion in debt. That my friends is an outright LIE. The U.S. Government is actually a total of $127 Trillion in debt.

Unfortunately for the DC scriptwriters, the days of "fool the voter" are OVER.

Here are the FACTS:

America and her finances are in desperate trouble.

Current Federal Deficit & Debt

  • $1.347 Trillion - The amount the Federal government has overspent in 2011 - with 5 1/2 months left to go in the fiscal year
  • $354 million per day - The amount every single day the Federal government is now over-spending, (not including Social Security & Medicare)
  • $14.2 Trillion - The amount of money the Federal government has already borrowed and must pay back
  • $1 Million every 46 seconds - The rate at which the National Debt, (interest + additional deficit spending, but not including unfunded mandates is growing as of April 2011)
  • $128,561 - The amount of Federal Debt per taxpayer ... thanks to political hacks in Washington, DC


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Taxing the Rich Won't Fix It...

  • $1.3 Trillion - Total value of all cash & assets for the richest people in America, (as reported by Forbes) - seizing all assets would cover less that 1/3 of 2011 spending
  • $4.6 Trillion - Total value of all small business assets - barely enough to cover all 2011 spending
  • $13.8 Trillion - Total value of all U.S. corporate assets - not enough to pay off the National Debt


Taxing Everyone won't Fix It...


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The Crisis is Growing

  • $100,000 per SECOND - The rate at which the National Debt + Unfunded Liabilities are growing
  • 2037 - The year the CBO (Congressional Budget Office) says the American economy will completely crash, our government and people left bankrupt and our currency rendered worthless if drastic changes do not start immediately.

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*All numbers taken directly from the USDebtClock.org as of noon April 14, 2011 except where noted.

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