... the national debt clock is about to run out of digits !!!
and in case you didn't catch the sign's descriptor for the lower number, it's every American family's personal share of the national debt ... which is now above $80,000 !
However, even the staggering $80k per American family is a bit misleading, since some 30% of Americans don't actually have to pay income taxes. Thus in terms of ever paying off this debt, you're looking at a bill of some $125,000 per taxpaying family !!!
But of course we never intend to pay off this debt anyhow. All we intend to do is keep making interest payments to those that 'own' this debt i.e. Treasury Bond owners i.e. the Chinese, Japanese, Russians, Saudis, Europeans and of course uber-rich Americans. At even a 3.25% rate of interest this means that every taxpaying family is actually paying some $ 4,000 worth of taxes every year whose only purpose is to make the rich richer !!! And these days, 50% of those being made richer by collecting interest on US Treasury Bonds are Foreign investors !!!
~





Bookmarks