.................Walker's focus is not just the national debt, which will grow to more than $10 trillion this year. Instead, he is looking at the national debt plus all the unfunded promises such as Social Security and Medicare, which have no future tax revenues to cover them. "At the end of the last fiscal year, that came to $53 trillion or about $550,000 per household," he says. "We may well have passed the point where the federal government's total financial hole exceeds the net worth of all Americans." Walker estimates the US has about five years to show fiscal responsibility: "We will have to send a strong signal we can get our house in order." That's not going to happen this fiscal year. Congress is expected to pile on new spending, such as an $80 billion reduction in taxes for individuals who would otherwise fall under the Alternative Minimum Tax (AMT) and $8 billion in hurricane Ike relief funds. So far, Congress has only appropriated $70 billion for the Iraq and Afghanistan effort, despite the fact that the wars have been costing about $150 billion per year. And revenues are likely to be considerably lower than anticipated...................... http://news.yahoo.com/s/csm/20081016/ts_csm/adebt
I read its already passed 10 trl, no ? http://forums.digitalpoint.com/showpost.php?p=9496351&postcount=2843
Great point Next to Nicaragua, it reminds me the list of corrupted countries, we are also neighbouring with Nicaragua in there p.s: I didnt know that Japan is in that bad position.
On the other hand the Japanese have this enormous private personal savings balance that the US and most other nations can't approximate. Actually it doesn't do them much good. They invest in horrendously low paying Japanese savings instruments and have done so for years (maybe decades). Meanwhile the debt is so bad and getting so much higher...there is no way either candidate can fulfill their agendas.