Lakhota
Diamond Member
- Jul 14, 2011
- 169,441
- 97,376
- Thread starter
- #481
We are the wealthiest country on earth....how can we be broke?
By any standard of measurement, when one owes $17 Trillion dollars, one is definitely BROKE.
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So???
BIG NUMBERS SHOULDN'T SCARE YOU BUBBA.
Hint ECONOMISTS measure it via percentage of GDP, think the US was "broke" after WW2 also?
Besides hate talk radio and Faux Entertainment, you ever hear anyone today worried about the debt created since Reagan/Dubya gutted taxes (revenues)??
Yes, UNLESS we get back to where Carter/Clinton had US (basically 20% of GDP), there IS a problem, but UNTIL we completely get out of the Dubya/GOP hole they dug US into, it's not much concern!
After WW II we didn't have huge unfunded liabilities like SS and Medicare.
Please explain how Social Security is "unfunded" - because Social Security is the largest holder of U.S. debt (almost $3 trillion) - even larger than China and Japan. In other words - Social Security pays its own way and does not rely on government funding.
The Real Owner of the U.S. Debt Will Surprise You
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