FreakinDJ
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Mon Sep-22-08 09:49 PM
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$7000 per year for every man woman and child |
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$7000 per year for every man woman and child in the United States. That is what it will take just to service the debt, never mind pay down the principle.
First we will cut Social Programs. Retirees, left in the streets after their pension funds were lost on Wall St. and their home values plummeted as regulators forced lower and lower “short sale home vales”.
Then essential Government Services will be cut or charged to the citizenry on a piece work basis. Of course National Defense will be long gone and Creditor Nations will be anxiously waiting at the gate. Soon decisions will have to be made and “The Corrupt Ruling Elite” will offer up the very citizenry they once presided over
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babylonsister
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Mon Sep-22-08 09:51 PM
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1. No one is done with this, or done negotiating. nt |
Muttocracy
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Mon Sep-22-08 09:51 PM
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2. isn't our individual share of the national debt already $40,000 or something? nt |
Rosa Luxemburg
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Mon Sep-22-08 09:53 PM
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3. what do we owe the Chinese? |
FreakinDJ
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Mon Sep-22-08 09:55 PM
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4. $7000 per yr is Interest Only on the total debt with Bail Out |
Kurt_and_Hunter
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Mon Sep-22-08 09:57 PM
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5. Okay, I'll bite. Servicing the debt is 2.1 Trillion/year? |
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7,000 times 300,000,000 seems to be 2.1 trillion. (300 billion times 7)
Assuming 5%, that would be the annual interest on an outstanding debt of 42 trillion dollars.
I don't know what 42 trillion dollars you're describing.
Maybe my math is wrong.
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guruoo
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Mon Sep-22-08 10:00 PM
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6. Who owns our debt? ... |
progdonkey
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Mon Sep-22-08 10:00 PM
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Where did you get the "per year" from?
The range I've heard is $3000-$7000 total, with the change generally being whether you count all people or just taxpayers.
Unless you've got a link, I have to call BS on this and tell you to stop adding rumor to fact (or rather to double-check a rumor before passing it around).
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DU
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Tue May 07th 2024, 11:01 PM
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