AIG TO GET EVEN MORE MONEY
The government did it again! They have pushed more money into AIG by purchasing preferred shares of AIG stock. It doesn’t matter, they are just printing the money and adding to the debt. The real and true U.S. debt is now over $70 trillion. We will never be able to pay that back, but it will be burden on future generations for as long as the U.S. exists. The administration is impoverishing the nation.
2 comments
70 Trillion? Are you sure?
Total federal obligations are 65.5 trillion. They exploded under the Bush II administration and are still expanding under the Obama administration. But let’s not rush to blame the Presidents. We have a representative democracy, after all. Many of those representatives are responsible for the mess we are in. And let’s not rush to blame the government exclusively. Let’s not forget who actually precipitated this latest fiasco. (Of course, you’ve been writing about this.)
Anyway, the original point was a debt is different from an obligation. Some journalist was comparing total federal obligations to global GDP. But this is in fact like comparing apples and oranges. One should compare total obligations to total obligations. Hey, it’s still a pretty stark comparison, but there it is.
To say the administration is impoverishing the nation is too easy.
By the way, are you blocking my comments?
Leave a Comment