Our Most Inconvenient Truth: National DEBT Part 2

sensibledemocrat1964

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Thursday February 19, 2009 · 4:54 AM PST

2009/02/19 · 04:54

For a refresher, you can go here and see the first part, which covered the history of the National Debt.

Disclaimer: This is a diary on the long-term implications of our federal budget and is not a commentary on the current economic crisis.

We'll start off with why our long-term budget future is an unprecedented situation, what are the components creating that problem, and FAQ's.

Tomorrow we'll round it off with the negative impacts of our debt and some possible solutions.

Here's a look at the money we owe in the future for 2 mandatory entitlements, Social Security and Medicare. Keep in mind this already accounts for the expected future taxes from the FICA Taxes. We would owe 40 trillion on top of that!

title=

More below the fold.

sensibledemocrat1964

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday February 18, 2009 · 6:09 AM PST

2009/02/18 · 06:09

I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared --Thomas Jefferson

Updated Disclaimer: THis Diary is discussing long-term budget issues and is not intended to be a discussion of the current economic crisis.

The dangers of our National Debt is the most important issue enough Americans do not know enough about. Just to grab your attention, this National Debt Crisis has the potential of simultaneously destroying the American Economy and America's National Security.

But first,in Part 1 here's a short history of America as viewed in the perspective of the National Debt!

Here' the National Debt as a percent of GDP from 1790 all the way to the present.

First things first, National Debt is the amount the federal government owes to its creditors, creditors include , foreign gvts., individual American citizens, foreign citizens, and itself ( what!more on that later).

More below the fold.

RSS

Our Most Inconvenient Truth: National DEBT Part 2

The Most Inconvenient Truth: Our National Debt, Part 1