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« James Turk: "Germany's Gold Is Being Held Hostage By The Fed" | Main | Michael Lewis On What Ireland Should Learn From Iceland »
Tuesday
Jan292013

U.S. Govt Borrows $6 Billion Per Day, $4 Million Per Minute

Guess how much of the national debt you owe...

Merely $50,000 for every man, woman and child or $140,000 per U.S. household.

This year the national debt will fly through $17 trillion, get a peek at $18 trillion, make a 2015 date with $20 trillion, while Paul Krugman leads Keynesian dance class aboard the U.S.S. Bankruptcy.  By the way, Krugman has a new name for you, or at least those among you so spiritually depraved, and morally off-kilter to care about federal red ink:

Krugman's Deficit Scolds...

 

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Reader Comments (6)

I did not cosign anything.
Jan 16, 2013 at 12:34 PM | Unregistered CommenterS. Gompers
Geithner warned Congress on Monday that the U.S. could default on its payment obligations as early as mid-February.

http://thehill.com/blogs/on-the-money/economy/277067-geithner-warns-congress-us-could-default-by-mid-february#ixzz2IA7n4WdY
Jan 16, 2013 at 12:55 PM | Registered CommenterDailyBail
You bring up a good point, gomp. As the debt crosses $20 trillion and moves toward $25 trillion over the next 4 years, we will hear more and more calls to disavow the debt entirely. It's going to be part of the chaos of the collapse.
Jan 16, 2013 at 12:57 PM | Registered CommenterDailyBail
Get the money lenders out of the temple.
Jan 16, 2013 at 1:08 PM | Unregistered Commentermick
Yes, and no nation should have to borrow its own currency from a private central bank! this is the idiocy of the century - a century of slavery to the private bankster Fed. Interest is the biggest tax we pay. We cannot escape this debt-money regime until we end the Fed and create our own money and credit via the treasury and elected representatives. Do you think Congress would have voted to give the big bankers 16 trillion?
Jan 16, 2013 at 1:32 PM | Unregistered Commenterkent Welton
Kent

Do you think Congress would have voted to give the big bankers 16 trillion?

Yes. They were zero interest loans, and I suspect Congress would have done the same. And though I support ending the Federal Reserve, I do not support letting Congress print our own money, at least without a balanced budget amendment in place. With no constraint on spending, Congress would destroy the dollar in a decade.
Jan 16, 2013 at 2:37 PM | Registered CommenterDailyBail

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