Drowning in Debt | Clipmarks


	Drowning in Debt

sahara

11-7-2009 8:12 PM

104 views

sahara says:

This is from Ross Perot's site (remember him?). One of the comments at the site that I thought was really good:
"Our dollar is backed by faith, how much faith is left? Sheesh, they’re going to run out of paper, granted it’s all electronic transfer so maybe not. But man, I just don’t see how catastrophic inflation isn’t a forgone conclusion at this point."

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ddc3dbd8-debb-4a0b-a0a1-9cf9adeac7cb/D787812C-3FD7-4D77-BA38-F995C4AE3ECE/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://perotcharts.com/2008/11/us-national-debt-2008/?cp=all" href="http://perotcharts.com/2008/11/us-national-debt-2008/?cp=all" style="font-size: 11px;">perotcharts.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://perotcharts.com/2008/11/us-national-debt-2008/?cp=all"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/perotcharts.com/img/B810FA73-CECB-4B72-BCC1-B556D5D5B6C0" alt="U.S. National Debt 2008" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://perotcharts.com/2008/11/us-national-debt-2008/?cp=all"><P>Between September and October 2008, the Total U.S. National Debt increased by nearly one trillion dollars, or about 10% of the outstanding debt.  Most of this increase is due to public borrowing to finance the Wall Street Bailout plan. The additional borrowing on top of the mandatory increases in programs such as Social Security (which will increase payout by 5.8% in January of 2009) represents a significant loss in financial flexibility which makes the problem of persistent deficit spending even more difficult to solve.</P></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content6.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.treasurydirect.gov/NP/BPDLogin?application=np" href="http://www.treasurydirect.gov/NP/BPDLogin?application=np" style="font-size: 11px;">www.treasurydirect.gov</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><H1>The Debt to the Penny and Who Holds It</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><TH>Current</TH></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><table background="undefined" bgcolor=""><tr><TD>11/05/2009</TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><TH>Debt Held by the Public</TH></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><table background="undefined" bgcolor=""><tr><TD align="right">7,588,138,019,547.78</TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><TH>Intragovernmental Holdings</TH></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><table background="undefined" bgcolor=""><tr><TD align="right">4,402,423,425,281.70</TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><TH>Total Public Debt Outstanding</TH></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.treasurydirect.gov/NP/BPDLogin?application=np"><table background="undefined" bgcolor=""><tr><TD align="right">11,990,561,444,829.48</TD></tr></table></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content6.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://perotcharts.com/cgi-bin/nationaldebtclock.pl" href="http://perotcharts.com/cgi-bin/nationaldebtclock.pl" style="font-size: 11px;">perotcharts.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://perotcharts.com/cgi-bin/nationaldebtclock.pl"><P><SUP>1</SUP> The U.S. Treasury Department publishes the debt to the penny daily at
<A target="_blank" href="http://www.treasurydirect.gov/NP/BPDLogin?application=np">Treasury Direct</A> around 11:30am ET.
The most recent number is shown here.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://perotcharts.com/cgi-bin/nationaldebtclock.pl"><table background="undefined" bgcolor=""><tr><TD><STRONG>Total Debt Outstanding<SUP>1</SUP></STRONG></TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://perotcharts.com/cgi-bin/nationaldebtclock.pl"><table background="undefined" bgcolor=""><tr><TD>$11,990,561,444,829.50</TD></tr></table></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D787812C-3FD7-4D77-BA38-F995C4AE3ECE/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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