Total Debt Nearing 7.7 TRILLION

For those of you who read my diaries, you know that the debt is probably my biggest issue.  The currency markets have mercifully taken-up my concern by selling the dollar for the last 2 years.  Until we deal with this problem, expect the dollar to continue its downward focus.

[Update] I forgot to add that last years interest expense was 321 billion.

If this issue seems to be too abstract, here's a very logical comparison.  Suppose you are a good credit risk.  You make $100,000/year.  As a result, credit card companies deluge you with cards, which you use.  Eventually, you run-up $250,000 in debt.  You still have your job, so you can pay.  But, think about the effect the debt will have on your spending.

I cannot empirically prove the following point.

I am deeply worried that we are approaching the time when we will no longer have any control over the debt, but it will have control over us.

http://www.publicdebt.treas.gov/opd/opdpenny.htm