The National Debt Road Trip (Video Warning: Not For The Faint-Hearted Nor Those Who Prefer To Hide From The Truth)

National Debt Road Trip by Political Math

The National Debt Is Now Approaching $16 Trillion

Though the official numbers won't be known for some time, with receipts lagging dramatically and federal spending growing like green shoots fertilized by pit bulls with intestinal issues, we might be lucky to leave fiscal '09 with a deficit of $1.5 trillion.  I have no words to describe the pain of contemplating that we might have to borrow borrowed more in 2009, than we did in our first 216 years as a nation, COMBINED.

Promoting greater public awareness of our exploding national debt is virtually our only weapon.  The best way to help would be to email the clip to everyone you know and post it on a few message boards.  The issues and numbers are explained clearly so that any viewer (young or old) will understand the implications.

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See also:

The United States of Insolvency

The President Admits The Obvious: The United States Is Flat Broke

Comments

[DailyBail]

Great graph on the 4 biggest bear markets of all time.

http://dshort.com/charts/bears/four-bears-large.gif

[DailyBail]

Obama: Bernanke Did Fine Job During Crisis

http://www.cnbc.com/id/31508567

[DailyBail]

Be careful with leveraged ETFs (double long or double short)

http://online.wsj.com/article/SB124571919892739583.html

[Sell Short]

I hate those stupid ETFs. Never played them, never want to get involved. I rather short individual securities, or once in a while go actually long something.

[DailyBail]

Hey AB this link is for you:

Realtors: Blame the Appraisers

http://norris.blogs.nytimes.com/2009/06/23/realtors-blame-the-appraisers/

AB. Why don't you write a rebuttal to the buffoon from the NAR and I will publish it on the site.

[DailyBail]

The U.S. and the U.K. Will Both Default on Their Debt by the End of Summer

http://www.silverbearcafe.com/private/06.09/geabmonday.html

[Ain't Bullshittin']

It is hard to write such a rebuttal based on such thin accusations. "It's all the appraisers fault". I can in turn say..."it's all the realt-i-whores fault when this was going straight up. I will be happy to write a piece. I want to wrap my head around the article and will respond in a day or so...I will drop it in your e-mail. You can post it if you like or tweak it...I am not a journalist. This site connects the dots....the NAR wants to remain in bubble land. The truth is that cash is king and the only homes being sold are cash only purchases. Most people want a discount when paying cash for things...are homes purchases different? Thanks for the link.....AB

PS...did you see where S&P is now downgrading PRIME loans from 1998-2005......beautiful...check our Calculated Risk for the story.

[Sell Short]

@Aint Bs,

>>>> realt-i-whores <<<< LOL!! thats funny!!!

[DailyBail]

AB.

Instead of specifically having to rebut the NAR wacko, you could do something like:

"Thoughts from an honest appraiser living among real estate sharks"

Use our search function to find all your old comments and you can find some of your past thoughts on the issue. You have already written some outstanding stuff on these issues in comments.

Again, no pressure. I just think it would be a nice article for our readers to see. Who knows, it could get picked up by outside referrers as well. The issue of pressure on appraisers deserves to be covered.

[Ain't Bullshittin']

I am thinking of writing a "tell all" on what I have personally witnessed and experienced in this profession. Would hearing about an appraiser being offered $10,000 cash to ensure the appraisal made value be interesting? No joke, dude showed up at my inspection with cash on hand. I said no.....I probably should be scared for my life if it ever gets to press. Well.....WTF...if you don't leave this world a better place...you have wasted your time here. I just don't know if anyone would even care to read it.........I truly believe that this site is being mentioned behind closed doors in official meetings from Wall Street to Pennsylvania Avenue. When people are educated......they are POWERFUL.

[James H]

A few weeks back, I had written a note of encouragement to Indiana State Treasurer, Richard Mourdock. During the Chrysler bankruptcy, the Obama admin pretty much ignored bankruptcy law and the capital structure and gave the UAW priority over some of the senior secured debt holders (not that I care about any of them per se). When some of these Chrysler bondholders balked at the deal they were offered by car czar Steve Rattner and his crew, Obama himself called these bondholder holdouts "vultures" and said that they were seeking a taxpayer subsidy and so, he said, "I don't stand with them." (Why do you still "stand with" the bank bondholders, huh big guy?) Anyhow, it later came out that some of these "vultures" were Indiana retirees (teachers and firefighters) and Mourdock tried to block the govt's plan for the bankruptcy. Whatever, maybe Mr. Mourdock is just a GOP hack, but I find it interesting that he received so many random messages of support that his staff had to come up with a mass form letter to respond to them all (copied below). Maybe more people understand the importance of bankruptcy procedure than some of us are apt to believe. File this one under "mustard seeds."


"Dear Friends & Supporters:

Now that all of the media attention and inquires have lessened, I wanted to thank all of you for the supportive phone calls, kind notes, and encouraging e-mails regarding Indiana’s involvement in the Chrysler, LLC bankruptcy proceedings. I have tried to respond to each of you individually, but given the enormous number of letters, calls, and emails have made that impossible. Forgive me for this impersonal note, which may read like a form letter, but please know that I have been personally touched by the incredible response of kindness by all of you.

From the beginning, Indiana’s legal challenges to the Chrysler, LLC bankruptcy dealt with the federal government throwing away the rules of bankruptcy law to benefit a select few. Indiana’s retired state police officers, retired teachers, and Hoosier taxpayers were victimized by illegal acts of the federal government, which was wrong. Let me be very clear, we never once suggest that Chrysler, LLC had broken the law. In reality, Chrysler, LLC, like any other corporation, could not have ignored 150 years of bankruptcy law like the federal government did.

I hold as a point of pride -- despite all the attacks by a couple of newspaper editorials, Chrysler, LLC, Indiana Congressman Joe Donnelly, Indiana Senator Evan Bayh, and some others -- no one EVER challenged us on the points of law. In the New York Bankruptcy Court, the New York District Court, the United States 2nd District Court of Appeals, and even the United States Supreme Court, no attorney for either the federal government or Chrysler, LLC, ever attempted to dispute our legal arguments. Even in the denial of our request to halt the bankruptcy proceedings by the Supreme Court of the United States, Madame Justice Ginsburg stated, “This denial of stay is not a decision on the merits on the underlying legal issues.” In essence, the Supreme Court prohibited our case from being heard on a technicality therefore deciding not to rule on the points of law that we raised.

The bankruptcy proceedings are finished and most of Chrysler, LLC is now the Chrysler Group. I hope to see them be productive, profitable, and prosperous.

Thank you again for your words of encouragement and for your support of my efforts to protect Indiana’s retirees and taxpayers.

Sincerely,

Richard E. Mourdock
Indiana Treasurer of State"

[James H]

"Would hearing about an appraiser being offered $10,000 cash to ensure the appraisal made value be interesting?"

Jesus God Almighty, yes! Get yourself a big dog, buy your wife a 20 gauge, and write that shit up. Are you kidding? That would be an amazing story.

"I truly believe that this site is being mentioned behind closed doors in official meetings from Wall Street to Pennsylvania Avenue. "

I wonder what they think of walstreetpro2? I believe he once called Geithner a worthless piece of maggot shit. I hope like hell they're listening to the Pro. Might be educational.

[DailyBail]

I believe he once called Geithner a worthless piece of maggot shit. I hope like hell they're listening to the Pro. Might be educational.

Thanks for that memory...

[DailyBail]

I NEED TO KNOW IF READERS ARE STILL GETTING THE ERROR--ABORT MESSAGE from Internet Explorer when they try to load the site today.

I need YOUR HELP to de-bug the problem. I have removed some code that might have been the problem and I need to know if the error--abort--can't load dailybail.com messages are still occurring. I am leaving this message at 9 am and the potentially bad code was removed last night.

Thanks, the mgmt.

[Mike Robinson]

Here is a link to a song I wrote, "My Obmamobile", spoofing the GM car-by-committee that surely must come. Hope you get a kick out of it. http://www.wix.com/digitalcottage/obamamobile

[Ken]

I was wondering where all the wackos went. Fox Noise has a lot but it seems I've found some more on this site.
Keep smokin what ever you're smokin!

[James H]

"I was wondering where all the wackos went. Fox Noise has a lot but it seems I've found some more on this site.
Keep smokin what ever you're smokin! "

Camels. Non-filter. If you want to elaborate, please do. Alot of the "wackos" on this site voted for Obama and hated Bush to no end. Not alot of Fox News fans around here, either. What are you smokin'? Hope 100's? Change Lites?

[DailyBail]

Ken.

James is 100% correct...we are not Republicans here...but we are not Democrats either...we rip both sides of the aisle...take some time to read our stuff...

We are fighting the bailouts and that makes for strange political bedfellows...

If you read more you would see that I voted for Obama and can't stand Bush...but that doesn't mean I can't criticize Obama...

I am growing tired of trolls who come here and make statements about this site without taking the time to read...

aaarrrggghhh.

[DailyBail]

And James

I read your comments over on Blodget's site this morning...you made some excellent points in the stimulus articles.

[madmilker]

Where is the birth certificate?

[James]

Anyone who actually believes your quick history lesson really needs to take ahard look at themselves. Ronald Reagen tripled the national defiecit in his eights years, of office, and Goerge Bush, the son doubled the national deficeit, Obama will expand the deficeit by 100, what you failed to insert in your brand of economics, is the devaluation of the dollar, that occurred under Reagen, and Bush. These two let the dollar go down in value against the other currencies of the world.

Maybe next time you will use some thought before explaining anything in simple terms, you also failed to mentioned the price of oil that was allowed to increase under Bush by some 500 %, but its not this website is dedicated to truth, but instead only cares about twisting the truth to keep the Republican Party alive. At one time most of my friends and even myself were very conservative, until websites like this and many others went so far right that they became not only non-americans, but something even our fore-fathers would of found distasteful. I really wish the Republican party would start coming back to reality, or at least something that most american could follow. It truly would be ashame to see this party become such a minority voice in america, and a joke when the important issues of the day are debated and decided.

[DailyBail]

James

You obviously didn't bother to look around the site. This is not a Republican site. We attack both sides. I am a Libertarian who abhors both political parties.

But thanks for your thoughtless comments anyway.

[madmilker]

James....

People in America need to realize jus what got America in this shape…”cheap” yes so-call cheap items from a foreign land.

quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote!

Now! if there be 182 country’s making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the “yuan” going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price.

People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the “we the people” have to turn to the “second” largest employer in America(Uncle Sam) to sell “we the people” debt in order to get all them dollars back!

50 years ago a foreigner would had given their left nut for a US dollar or a Hershey’s chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think “MADE IN AMERICA.”

quote*”Considering that there are over 30,000 ships at sea this morning,” writes James Carlton, director of the Williams College-Mystic Seaport Maritime Studies Program, in an e-mail, “the total number of organisms and species in this global ‘bioflow’ on the morning your readers read your piece could be staggering - billions of individuals, and thousands of species.”

Indeed, scientists have long considered ballast water the primary way invasive aquatic organisms are introduced. From the zebra mussel’s arrival in the Great Lakes, to an American jellyfish severely disrupting Black Sea fisheries, the potential costs of accidental introduction of a species to new homes can be tremendous. Aquatic invasives cost the US $9 billion yearly, according to estimates by David Pimentel, professor emeritus of ecology and evolutionary biology at Cornell University in Ithaca, N.Y. Zebra and quagga mussels (a cousin to the zebra) alone cost the $1 billion annually.*end quote!

tat is $9 billion a year in hidden taxes to all Americans…
cheap ain’t chic and it cost America…………jobs!

“Now let us look at Wal-Mart again; you buy a product there, 6% goes to the employees, 10-18% is profit to the company, 25% goes to other costs and 50% goes to re-stock or the cost of goods sold. Of the 50% about 20-25% goes to China, a guess, but you get the point. Now then, how long will it take at 433 Billion dollars at year for China to have all of our money, leaving no money flow for us to circulate? At a 17 Trillion dollar economy less than 40-years minus the 1/6 they buy from us. Some say that if we keep putting money into our economy, it would take forever, but if we do not then eventually all the money flow will go. If China buys our debt then eventually they own us, no need to worry about a war, they are buying America, due in part to our own mismanaged trade, so whose fault is that? Not necessarily China, as they are doing what’s in the best interests, and we should make sure that trade is not only free, but fair too.”

http://www.worldthinktank.net/pdfs/TheFlowofTrade.pdf

and when it comes to all them ther turnips in D. C. ….they all need to red…oops! read George Washington’s farewell address after only eight years of serving his country…

Retail makes nothing! ….and until the American people get off their lazy @ss and start to demand…”made in America”….all the retail jobs will be sitting in a foreign land.

The dang government makes only debt…like all it knows is spend…spend…spend. The turnips ain’t never past a dang “saving” bill. They go up on tat big hill and play banker with my dang tax dollars and every dang one of them is one sandwich shot of a picnic when it comes to balancing their dang check book.

National Debt from 1776 to 1910 wus only $2.6 billion and tat wus without a income tax. After the stiff-shirt “my sh!! don’t stink” bankers met in 1910 at Jekyll Island tat debt wus put in high gear in 1913 and even with a income tax and now a tax for every dang thig a person touches…even the air he/she breaths tat debt has mushroom to over $10 trillion in 2008.

Now….we the people in the past 7 months has taken on another $1 trillion and tat person in tat big white house is saying the car is going to slow…well…maybe he needs to get out off the dang thig and walk.
http://dailybail.com/home/the-national-debt-road-trip-video-warning-not-for-the-faint.html?lastPage=true#comment4859693

And with America being over $57 trillion in debt….a little walking wouldn’t hurt them either. People….it ain’t no place in the Constitution tat states the government is suppose to take care of you….not one dang sentence. The word “cheap” ain’t no place to be found either. If you don’t buy American made…you don’t have jobs cause RETAIL makes nothing.

Quit thinking in terms of a jack@ss and elephant….they the ones tat put US in tis mess….think in terms of character, faith in God, love of Country, your State, your town, your family and your dang job. Spend a month…maybe two red…oops! reading Michael Hodges “Grandfather Economic Report” series learn learn how the people from above has pull the wool over the eyes of “we the people” for the past 96 years.

“Our constitution was made only for a moral and religious people. It is wholly inadequate for the government of any other.” - John Quincy Adams, 6th President of USA.

“I hope our wisdom will grow with our power, and teach us, that the less we use our power the greater it will be.” - Thomas Jefferson

“No generation has a right to contract debts greater than can be paid off during the course of its own existence.” - George Washington to James Madison 1789.

“support your town…shop around.” - madmilker

[James H]

@madmilker

It's funny you should mention zebra mussels. Out here in western Mass., they've been discovered in one of our ponds and people are just in a tizzy trying to figure out how to protect the other ponds from being infested (assuming they haven't been already). The various towns closed the boat ramps on their ponds in order to try to prevent the spread (seeing as motor boats are the most likely culprits).

Naturally, the state Department of Whatever has asserted that it has the SOLE AUTHORITY to close boat ramps -- and they're gonna be open, by gum! Most towns have reopened them. However, I'm particularly pleased to hear that our town has taken the order to reopen the ramps "under advisement" and they will remain closed. Appropriately, we're just a few miles from Daniel Shay's last stand. I think alot about ol' Daniel Shays these days. He led a farmers' revolt during the great recession that followed the Revolution. Taxes went through the roof and the farmers' eastern creditors confiscated their farms in order to pay off the debts. Needless to say, after fighting for their Rights of Man, they were a little pissed. It was quite literally pitchforks against the money interests.

http://en.wikipedia.org/wiki/Daniel_Shays
http://www.flickr.com/photos/bunkosquad/467763040/

[spideydouble]

@ James H

A few years after Shay's Rebellion, money interests got to flex their muscles again in the Whiskey Rebellion. George Washington, despite himself being a large whiskey producer with an inherent conflict of interest, had personal command of a militia force rivaling the size of the entire Revolutionary War army. Luckily the rebels were smart enough to get out of Dodge and very few were ever be found, including the ever elusive Tom the Tinker. This was the first time under the new United States Constitution that the federal government used military force to exert authority over the nation's citizens. Pay your taxes or die! Exemptions may apply to privileged persons, elected officials, corporate officers, and those with the correct house password.

http://en.wikipedia.org/wiki/Whiskey_Rebellion

I wonder if a few of our elected officials were in attendance ...

http://www.movieline.com/2009/07/british-partygoers-honor-eyes-wide-shut-with-commemorative-orgy.php

[CAJeffO]

I HOPE EVERY ONE TAKES THE TIME TO SEE THE FIRST 10 VIDEOS ON THE PLAYLISTS BELOW.

America's Financial Trojan Horse
www.youtube.com/view_play_list?p=EBA9C3519B073FF3

Also see the increase of the national debt by %.
http://constitutionalvoices.org/bloggers/freedomblogger2

http://www.youtube.com/view_play_list?p=2DDE80A82FE96DC6

http://www.youtube.com/view_play_list?p=0CEAED4E7CB25DD7

http://www.youtube.com/view_play_list?p=6D98E756B266C153

http://www.youtube.com/view_play_list?p=2176053404743AEA

http://www.youtube.com/view_play_list?p=70F36ED593B1A82A

NOW CONSIDER VOTING OUT ALL ENCUMBANTS!!!!!!
LET'S SHOCK THE WASHINGTON & THE REST OF THE CORPORATE WORLD!!!!!!!

Then -
- Let's limit terms!
- Let's vote when their terms are up to see if they get any pay or benefits!
- Let's make them take pay cuts the same as the worst state workers took.
- Let's limit the maximum amount of money &/or gifts they can take to get into office.

It's time to take our country back.

[GoKaptur!]

Barack Hussein Obama is either an incompetent moron who's allowing others to make major misguided financial policy decisions for him OR ...worse.. he's a MF corrupt SOB who needs to be strung up head down from a beam just like Mussolini was. And next to him the body of GW Bush, his enabler and probably secret lover.

And we all know the bastard is too articulate to be a moron...

[GoKaptur!]

Oh BTW, now that the USA is completely ThirdWorldified -as our dear GW Bush would say- the solution is no longer in the hands of voters but rather in the hands of senior military officials willing to stage a coup and overthrow Osama.

Hey you MF's* wanted "change you can believe in" and you got it: SURPRISE ! Now we're ZIMBABWE ! Believe THAT.


*MF= all the stupid azzwipes who DIDN'T vote for Ron Paul and choose to follow OBankster instead.

[DailyBail]

another vote for ron paul

[Sonic Ninja Kitty]

DB, Here's some transcribing from the Ron Paul CNN video. If you'd like to copy and paste feel free. The comments in that section were off otherwise I'd have put it there.

On bailouts (from 0:58):

“Well, they take care of their own. There’s a great deal of influence in Washington from Wall Street. And I think most people have known about it but they’re really coming to the understanding [of] how it really works. If things are going well when the bubble is being formed and the Fed makes easy credit [then] a lot of people make a lot of money. But that’s doomed to fail. The bubble bursts and rightfully the thing to do then is to put people in jail if they committed fraud and the people who are bankrupt, let them go bankrupt. Well, we didn’t do that. Very little fraud was prosecuted and the people who were supposed to go bankrupt got bailed out. Some went bankrupt. If they didn’t have enough influence like Lehman Brothers, they went bankrupt, but somebody like Goldman Sachs, they’re in a much better position so they really got the bailout and they’re making tons of money. So it’s the system that is so bad.”

On regulating (from 3:48):

“Well the regulation has to be on the cause of the problem. The cause of the problem is easy credit, so the regulation has to be on the Federal Reserve. Then if things get out of whack, there are still regulations, it’s not like there wouldn’t be any regulation, but the regulations come in a different manner, they come through bankruptcy. We didn’t permit the bankruptcies. We did the bailing out. We perpetuated the problem by inflating the currency and bailing out the people that were benefiting, so fraud is a very significant problem that government should be involved in, you should deal with that, but the government is committing the fraud when they create this money and deal with their special interests. It’s a fraudulent monetary system. They run a counterfeiting operation, so yes, the regulations have to be there, but we can’t allow the central bank to create the bubble and say that it is unstable and we can prevent the problems by regulations. I think it’s all twisted around. The regulations have to come first….”

[gobias]

October 2009 – Washington Times - The White House has told Congress it will reject calls for many of President Obama's policy czars to testify before Congress - a decision senators said goes against the president's promises of transparency and openness and treads on Congress' constitutional mandate to investigate the administration's actions.

[DailyBail]

Thanks Sonic...I added your transcription to the story...much appreciated...

[Gregory Lemke]

John

This is why we can't pay for health care reform today unless we want no health care later !

[bubbareagan]

in germany i drove a 170 mph to work every day....its nothing...