WE'RE NUMBER 1! WE'RE NUMBER 1!
What in? Well, put on your party hats and cue up "For He's a Jolly Good Fellow"....
MOST EXTERNAL DEBT IN THE WORLD!*noise maker*
What in? Well, put on your party hats and cue up "For He's a Jolly Good Fellow"....
MOST EXTERNAL DEBT IN THE WORLD!*noise maker*
WHAAAAA?!!?!
ok, so this is not completely new news. First of all the $13,641,807,000,000 (13.6T) debt is a stat from the end of 2008. Secondly, we were also number one back in 2007. I know exactly what you're thinking... "HEY! At least we're not Japan who has an astounding 217 percent of GDP total debt!" (You DID say that, right?) While this is true, Japan mainly just owes it's own people. It's external debt is less than %15 of ours. Plus, you know what external entity owns the most of the US? China at $767.90B...know who's a close #2 in that list? JAPAN at $686.70B! *noise maker* WOOHOO!
That sounds pretty bad doesn't it? Well if that made you cry, stop reading. The United States is the place of dreams and promises. Unfortunatly, most promises cost something in return. So how much are the promises of this great land going to cost us for this fiscal year?
Federal Budget Deficit Tops $1 Trillion for the First Time.
That's ONE year! Sooooooooo who owns these promises? Not the people who benefit from them, only the people who provide them. They're the ones owed money. Next time you complain about China or Japan "owning us", take a look at where we really owe money, what we're promised for the debt, and what we actually get. Most of our debt is our own fault - or at least our governments fault. No taxes if you make less than $250,000 a year? Yeah right. Think we can overtake Japan on owing ourselves too?!
Side-thought:
If I created my own money and then tried to buy your car with it, would you accept it? You'd be wise to turn my offer down, because it has no real worth. When creating something from nothing, especially perceived wealth, true value declines rapidly.
And yet...we keep spending. *facepalm*
ok, so this is not completely new news. First of all the $13,641,807,000,000 (13.6T) debt is a stat from the end of 2008. Secondly, we were also number one back in 2007. I know exactly what you're thinking... "HEY! At least we're not Japan who has an astounding 217 percent of GDP total debt!" (You DID say that, right?) While this is true, Japan mainly just owes it's own people. It's external debt is less than %15 of ours. Plus, you know what external entity owns the most of the US? China at $767.90B...know who's a close #2 in that list? JAPAN at $686.70B! *noise maker* WOOHOO!
That sounds pretty bad doesn't it? Well if that made you cry, stop reading. The United States is the place of dreams and promises. Unfortunatly, most promises cost something in return. So how much are the promises of this great land going to cost us for this fiscal year?
Federal Budget Deficit Tops $1 Trillion for the First Time.
That's ONE year! Sooooooooo who owns these promises? Not the people who benefit from them, only the people who provide them. They're the ones owed money. Next time you complain about China or Japan "owning us", take a look at where we really owe money, what we're promised for the debt, and what we actually get. Most of our debt is our own fault - or at least our governments fault. No taxes if you make less than $250,000 a year? Yeah right. Think we can overtake Japan on owing ourselves too?!
Side-thought:
If I created my own money and then tried to buy your car with it, would you accept it? You'd be wise to turn my offer down, because it has no real worth. When creating something from nothing, especially perceived wealth, true value declines rapidly.
And yet...we keep spending. *facepalm*
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