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jesusfreakinco (28.96)

The REAL US Debt numbers - stop spreading the myth of $12 trillion

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December 16, 2009 – Comments (6) | RELATED TICKERS: FED , CRO.DL2 , OKS

I am so sick and tired of people quoting this site: http://www.usdebtclock.org/ as the offical US debt figures.  This is SUCH a BOGUS number.  This is based on the official numbers, which isn't based on GAAP - generally accepted accounting principles.  Find out a better analysis at http://www.pgpf.org/about/nationaldebt/.  For those that want a more detailed explanation of the real figues, watch this movie: http://www.iousathemovie.com/

Stop spreading the government propoganda that our debt is only $12 trillion.

JFC

6 Comments – Post Your Own

#1) On December 16, 2009 at 3:10 PM, Sozurmama (22.94) wrote:

heh, peter peterson.....seriously though, those are some pretty massive numbers....quite a burden for taxpayers to carry.....we're really getting a stiff deal.....etc.

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#2) On December 16, 2009 at 3:16 PM, PeteysTired (< 20) wrote:

This makes me sad :(  I hope for my children's future, but it is getting harder for me to expect much of a future for them.

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#3) On December 16, 2009 at 3:44 PM, jesusfreakinco (28.96) wrote:

Sozurmama -

I wish I was Peter Peterson... I am guessing he doesn't have to worry about kids braces and my rising health insurance premiums.  I went to a Wake Up Call by PGPF and Concord Coalition.  Even these guys have no feasible answers.  I hate to say it, but we are doomed.  It is just a matter of when, not if.

PeteysTired

Amen!  I fear for our future.  I think we will see the USD become worthless ala Weimar Germany in my lifetime.  All I can hope to do is prepare and make it through it.  Best case scenario, I prepare well and pick up assets on the cheap when that happens.

 

 

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#4) On December 18, 2009 at 5:12 PM, lquadland10 (< 20) wrote:

giggle I just had to give you one rec. The http://www.usdebtclock.org/

gives a more accurate view IMO. Look at the clock. US total debt 54,988,931,766,179 then add the Intrest. 1,842,928,246,188 for a total of 56 to 57 trillion. That is about the same as your links. They all say about the same thing. For me it is easier to read the Debt clock. ;-)

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#5) On December 18, 2009 at 5:16 PM, jesusfreakinco (28.96) wrote:

Ha.  I stand corrected.  The website does have US unfunded liabilities.  This is the number that should be at the TOP of the website not the bottom - and bolded and highlighted and explained in more detail.

Needless to say, the $12 trillion is a bogus number.

JFC

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#6) On December 18, 2009 at 9:28 PM, lquadland10 (< 20) wrote:

;-) yes you are right.

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