WSJ reports that “President Barack Obama’s budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012 and will include hundreds of billions of dollars of proposed infrastructure spending, according to draft documents viewed by Dow Jones Newswires and The Wall Street Journal. The projected deficit is higher than the $1.296 trillion deficit in 2011 and also slightly higher than a roughly $1.15 trillion projection released by the Congressional Budget Office last week…United States of America USA is the nation with most debt by far in the history of human civilization.
USA’s total debt, including personal debt, real estate (mortgage) debt, consumer debt, credit card debt and government debt totals a mega $47,992 Billion USD ($47.9 trillion), roughly 2400 trucks full of money. – US Debt Clock
well being. In USA it comes from the Central Bank (private organization) dubbed the Federal Reserve.
You owe to yourself to understand the fundamentals of money, since money controls you
The world is in debt – A whole city of sky-scrapers of cash.
The countries together face a $7600 Billion USD (7.6 Trillion) dollar debt repayment/refinance tab in 2012. The towers are maxed-out at 100 stories of $10 billion dollar platforms.
To understand how we got in this borrowing mess, you must trace the path of money, where it comes from and how it is created. For starters: Money is “created” at the Central Banks of the World.
well being. In USA it comes from the Central Bank (private organization) dubbed the Federal Reserve.
You owe to yourself to understand the fundamentals of money, since money controls you
Sources: This Time Next US Presidential Campaign: $24.1 Trillion In Debt, 138.9% Debt/GDP
List of Countries (GDP Nominal) Russia Canada China Brazil India UK France Italy Germany USA Japan
Bloomberg: World’s Biggest Economies Face $7.6 Trillion Bond Tab as Rally Seen Fading
About the debts of our fathers…
“There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.”
– Ludwig von Mises
“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul
‘Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.’– Barack Obama
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