Image via Wikipedia The American Debt has reached thirteen trillion dollars and its growing daily. What has this country done to get into so much debt and how does this effect you. The more debt we have the more taxes are placed on the American citizen. Every american is responsible for about eighty eight thousand dollars with of debt. The only real way to help bring down the debt crisis is to get a thriving economy.
TheMoneyIllusion » Here we go again?
This past May I pointed out that the euro debt crisis was increasing the demand for dollars and depressing AD in the US. One sign was the dollar appreciating as investors fled to safety. As I expected, this slowed the US economy in the second and third ... Prediction: By the end of 2011, the Fed's balance sheet will contain two trillion dollars of US Notes – in addition to all the other assets. Somewhere, something big and important is unraveling and breaking down. ...
One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America's citizens since the nation's founding 235 years ago, ... But at the same time, America's debt and unfunded liabilities totaled at least $120000000000000.00 ($120 trillion), or 225% of the citizens' net worth. Even if the government expropriated every dollar of private wealth in the nation, ...
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