http://bit.ly/35rcqu - - - It's another record-high for the U.S. National Debt which today topped the $12-trillion mark. Divided evenly among the U.S. population, it amounts to $38,974.34 for every man, woman and child.
Technically, the debt hit the new high yesterday, but it was posted on the Treasury Department website just after 3:00 p.m. ET today. The exact calculation of the debt is a 16-digit tongue-twister and red-ink tsunami: $12,031,299,186,290.07 - - - de Tocqueville said it best: "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money" And here we arrive at the reductio ad absurdum of this prescient observation. The current administration made proper political hay of the previous administration's lack of fiscal discipline.... then promptly used it as a fig leaf for fiscal adventurism and monetary cronyism of the most outrageously reckless and bald-faced sort. To piously clamor for deficit reduction "next year" is an insult to our intelligence after a year of throw-all-caution-to-the-wind fiat money printing, new entitlement obligations, and plummeting tax revenue. Only about a third of the "stimulus" has been spent... which belies the false pretenses under which it was passed... it had to be a "big number" injected "immediately" in order to prevent unemployment from going as high as, gulp, 8.5%. Here we are at over 10% unemployment a few months later, now they are talking about another stimulus package, keeping in mind that 2/3rds of the first one won't hit until -- image that! -- the 2010 election year! Who cannot see the transparently fraudulent basis of what may go down in history as the biggest act of generational theft ever in the history of civilization? The "jobs saved or created" it turns out aren't merely a statistical fiction, but an actual one. We have districts that do not exist supposedly creating dozens of jobs per hundreds of thousands of dollars ostensibly spent, according to the recovery.gov site. Promised transparency has given way to surreal fantasy. $38,974.34 per every man, woman and child means that on top of all the debt you have of your own doing, your government lays claim to an additional $38,974.34 x every member of your household or extended family. In my household, this adds up to $155,897.36. And this, before the so-called "health care" ponzi scheme is passed, before cap-and-trade destroys our energy infrastructure under completely false pseudo-scientific pretenses. To put it in a different perspective, the Fortune 500 companies' profits add up annually to roughly $90 bln. So the government would have to confiscate that profit every year for more than 120 years in a row to cover that debt. How now does this country get out of this debt, except for default, devaluation, hyperinflation, and/or total collapse? This insanity must be stopped, or our children will live in abject poverty. It may already be too late. - Publius "It ought never to be forgotten, that a firm union of this country, under an efficient government, will probably be an increasing object of jealousy to more than one nation of Europe; and that enterprises to subvert it will sometimes originate in the intrigues of foreign powers, and will seldom fail to be patronized and abetted by some of them. Its preservation, therefore ought in no case that can be avoided, to be committed to the guardianship of any but those whose situation will uniformly beget an immediate interest in the faithful and vigilant performance of the trust." [Federalist Papers #59] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
