US Fed debt now exceeds World GDP!
 

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

Rest of article - http://www.worldnetdaily.com/index.p...w&pageId=88851

blah .. i earn more than that in 2 days

Why are the numbers in this article much higher than anything I've heard of before?

wooooooooooooooooooooo

Its not that far off. Our obligations, last time I heard, and not updated for these latest spending sprees was around 57 trillion.

Last year we spent half a trillion just to pay interest on our debt.

you are the only one who can answer that question.

Change we can believe in!

$65.5 trillion - $800 billion = 64.7 trillion pre-Obama.

very soon income tax will no longer even cover the interest of the national debt..

Says who? Someone can rise out of the middle east:

Satan: "Hey, you owe us and china all this money but we can solve this debt problem."

US: "How?"

Satan: "Its easy, we attach a mark on your hand or on your forehead and youll have to transact using that. It solves all your identity theft, financial crimes, frauds, illegal immigration, tax evasion, money laundering, counterfeit money, and other issues and we have a cashless society that will make the financial system totally efficient. We'll call it the 666 financial system and you can ask 90% income tax until all the debt is paid off."

US: "Geee, that kinda sucks but I guess we've got no choice."

Satan: "Sure you have a choice, you can go back to medieval times if you like. No oil, no power, life will really (as you say in America) suck. Or you can use this system which we've already deceived... errr convinced... many other nations to join."

US: "Fucker.... okay where do i sign up?"

Satan: "Put your hand out...."

Because you have not been paying attention? :)

The funny thing is...
If America pulled its Balance sheet on other countries the debt wouldnt be so bad. It's unfortunAte other countries do not make good on what they owe America.

Lets see some examples AlienQ of how much other countries owe the US.

Isn't this called bankruptcy when you owe more than all of your assets combined? at least in monopoly it would be game over!

http://www.pgpf.org/newsroom/press/owe/

So Obama has come into a situation where spending another $800 billion doesn't matter because it's a drop in the bucket compared to the amount that is already owed and can never be re-paid anyway?

So who does America make the check out to?

LL

I guess Social Security will be going the way of the Dodo bird soon.

A drop in the bucket wont make a splash. We would need way more than 800 billion correct this. But the problem is that the amount of money we need would cause hyper-inflation. But 800 billion is enough to pay off a lot of people and make it look like something is getting done.


No way man, everyone is going to have free health insurance :rasta

It's going to be decision time soon on this issue. Watching Social Security balloon is like watching a train wreck in super slow motion.

Obama is the ultimate baller!

Damn, that's a lot of debt.

:1orglaugh:1orglaugh:1orglaugh

what an idiot ..

let me find a pic of the twin towers and associate it to Bush ...

Old puppet out, new puppet in. More of the same.

whose counting..

This is the problem with the public at large.

1. They are distracted...
2. They are dumb...
3. They don't care...

And the government likes that just fine.

The sad thing is, I have been telling people I know that our country has been in debt to the tune of double digit trillions for awhile now and they thought I was full of shit. All they believe is the standard 3 to 600 billion lie.

When we one day look up at our government over raised fists, there will be no reason to ask how this happened. Just look in the mirror, that is who let it happen.