(CNSNews.com) – The federal government’s “debt held by the public”—as opposed to its “intragovernmental debt”—has topped $14,000,000,000,000 for the first time in history,according to the latest numbers released by the U.S. Treasury.
As of the close business on Aug. 10, the “debt held by the public” was $13,987,862,462,404.79, according to the Treasury. By the close of business on Aug. 11, it had risen to $14,012,831,105,933.15. By close of business on Aug. 12, it had increased again, hitting $14,012,909,909,536.53. read more
hysterical!
So that’s the fundamental transformation, to a generational debtor state.
Do it for the children, was the justification cry for most spending.
Seems to me we did it, to the children.
Foreign governments have shedding US holdings for a few years now.
They believe Trump when he says the debt holders are going to get a “haircut”, and they believe Hillary when she says we will stay on the economic course we are already on.
Either way, the holders of the debt get screwed.
Most of it exists in retirement accounts of people who mistakenly believe the government would never screw them.
As they say. Too soon old, too late smart.
FTFY
I have a couch. Who knows what I’ll find.
Ironically, that picture foretells the future. When the dollar collapses, you’ll be wiping your azzes with Jackson and Franklin. Tubman will never make to the $20 in time.
👿
WHAT THE HELL IS WRONG WITH THE NATIONAL MEDIA, when Louisiana’s devastating floods barely register as a story?
Well for one thing, there’s no political angle to beat up Republicans, when the state’s governor is a Democrat, and so is the president.
http://www.theamericanconservative.com/dreher/cnn-louisiana-flood-national-media-cbs/
JohnS, you are a dumbass, debt holders always get paid at the expense of the stock market, main street, and the broader economy. Regular Joe gets screwed with unfunded liabilities.
External sphincter, Name one country, in all of recorded history, where that has held true until the end.
In economics 101 a person learns that there is no such thing as a 100% safe creditor unless what is put up is worthless.
Heck, just go back to what happened during Carter. Inflation soared, and people stuck with low yield T-bills lost half their assets before they could unload them.
You kids just need to learn a smidgen of history, it helps make current events more understandable.