The Real Financial Situation.
Anyone aware of the US Government's real financial situation knows that time is running out. The Government has $15.5 trillion in admitted debts but those debts, when calculated under Generally Accepted Accounting Principles (GAAP), or 'honest accounting', is over $70 trillion. $70 trillion divided by 300 million+ Americans works out to $233,000 per person in US Federal Government debt and obligations. Or nearly $1 million per family of four.
That does not included personal debt, state debt or municipal debt.
This debt plus an economy that has been completely hollowed out by the Federal Reserve system ensures that there is no way the US Government can ever pay off this debt. And, everyone especially financial experts know it is just mathematically impossible to get out of this mess.
That does not included personal debt, state debt or municipal debt.
This debt plus an economy that has been completely hollowed out by the Federal Reserve system ensures that there is no way the US Government can ever pay off this debt. And, everyone especially financial experts know it is just mathematically impossible to get out of this mess.
Sal
When the Roads and Paths end, learn to guide yourself through the wilderness
Beyond the Path
Alan Greenspan Former Chairman - US Federal Reserve
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