Who Do We Owe and How Much?

THIS IS ALL BUSH'S FAULT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HES A LIAR AND A CROOK!)=SOMEONE NEEDS TO STOP HIM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HES GOING ON MASS DESTRUCTION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!THAT DEBT COULD OF BEEN TOTALLY PREVENTED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!HE KNEW IT!!!!!!!!!!!!!!IM SO FRUSTRATED!!!!!!!!!!!!!!!!!!........................................................................................

I don't believe it is all George Bush's fault...Im pretty sure we have been in debt for awhile! Blame it on everyone...The whole U.S. is money hungry!

From citizens to corrupt politicians. Greed is what drives us today, that and the quick and easy for short-term fixes, we forgot about long term. and if we didn't forget, (corrupt)(or not) politicians guessed it would have been fixed after their term in office. For us American citizens not knowing at the time that it was going to be a big issue went into credit card debt and common scams to get by or get what you want (ed) (greed). But we blame our presidents such as bush, i don't think hes all to blame, hes to blame for not recognizing it sooner. but all the presidents shortly after the 1970's as statistics show have went into debt. I believe the Clinton administration is somewhat to blame also. We american citizens always blame those in charge, it might never change until we see ourselves also the problem. and with these charts I have seen us (citizens)of the problem.

Here is the underlying problem. WE do not make anything in the USA anymore. Companie's outsourced production to lower labor Nations like China and imported the products back so we could buy them cheap in the USA. Problem is that we used debt to buy the products and we sent Billions of dollars oversees.

All the politicians can say is that this form of Free Trade is Good. Why.... because the Asians hold our IOU's and if we try to change things they will dump the US Currency, stop buying our Paper and tank the dollar. Either way bad policy by our elected officials have led us down this path.

The real cause is the privatly owned Federal Reserve. The Government signed over the right to print/create money to the Fed, now you have to borrow money from them, which they create out of thin air, and which has to be paid back with interest. If Congress regained control of the issuing of the currency there would be no debt.

The Rockefeller's and the 10% of the wealthiest people are to blame. what most people dont believe is that the united states federal reserve banks isnt even owned by the u.s. its a privately owned bank not even regulated by our government. "Thomas Jefferson" or the man who first commented knows what im talking about. maybe i can offer a lil more and request that we all watch the zeitgeist movies (for free) at zeitgeistmovie.com

Mary, you are an idiot.

This debt has been with the United States for Decades. What's your plan. What's your solution?

We had a balanced budget just a few years ago. I mean , doesn't the guy who wrote this know that betting on derivaties amplified this expotentionly.

Ok look the reason for use being in debt is a multiple number of things

1. congress, due to them signing over to the feds is the biggest reason that is what tipped us over to plummet into debt, also congress (NOT the president) can declare war so war debt is another reason.

2. the president, yes president bush saw it coming yet he sat and did nothing and so we start getting deeper into debt, then we get in a war on terrorism witch make it worse.

3. the people, yes we also are part of the problem well mostly the people who get scared and widthdrawl all of there money from the banks and then stuff it somewere and never take it out, so the money that we need to get out of debt is probably stuffed into a matress or buried in the ground or even in a safe. for the now and future all of the people who kept there money in there house needs to get it out there into the world so that it circulates to the people that need it AND so that it pays off our national debt, and the government needs to stop spending money on stupid things so that way that certain money can go to paying for our debt. now i am only stating facts that i know of, i know some of you hate bush and want to blame him for everything but remember there are other factors in work here.

Bush? You blame $60 Trillon on one president? You actually give him that much credit?? This has been a boiling frog since 1913. Read the Creature from Jekyll Island

Bush?!!! About trying Barney Frank and the "Community Reinvestment Act", empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods". And his best buddies on charge: Fannie Mae and Freddie Mac.

BS BS BS, I can't believe people is actually blaming any other one but Frank and his crooked deals with FM & FMc, and let them get away with it!!

Enough ranting on about Bush! Guess which president signed the "Community Reinvestment Act" into law? It wasn't Bush. Do your research before you rant in all caps!

I rest easy at night knowing the off balance sheet assets of the US Government more than cover the debt. The key issue is that the few people who understand this don't want control of those assets returned to the public domain. Check the works of Wanta, Sterling, Durhamn and Heidner to understand this. Rest well......

Look at the graph under the US Total Debt section. Looks pretty much like an exponential curve, which indicates a fairly constant level of inflation (e^(1+inflation)). However, look at the changes in the relative amounts of that debt. During 1994-2001, the national debt reduced relative to what the exponential curve would predict but then increased again a rate that might match a continuation of the exponential curve at 1994. The corporate portion of the graph shows a normal exponential curve with a slight glitch 1997-2000, but then appears to stay constant (the gradient is the same as that of combined national and household debt).

The household debt at first looks like a normal exponential up to 2001, but this isn't accurate because between 1994 and 2001 it is actually counteracting any 'savings' being made in the National debt - i.e. it has stepped up. After 2001 it is more difficult to read, due to the sharp change in National debt, but I'd say that it is more or less matching the inflationary exponential rate.

During 1994-2001 when the government was paying off its debts (times are good?), the public started significantly increasing it's debts. When the government stopped saving and carried on as normal, the public was unable to reduce it's higher levels of debt. Corporations presumably creamed the profits of interest which allowed them to reduce their relative debt.

Conclusion : The debt incurred by households in 1994-2001 was unmaintainable but took some years (perhaps liquidating assets to make ends meet) before it became critical and everyone started defaulting on their debts.

Well if Obama and the government would Stop spending all of OUR money, we could start payin some of this off. People for many years have been puting money in Healthcare and Social Security and Obama and the Government is taking OUR money and Spending it.

Lots of grumping but no solutions.

Maybe we should start selling off land since we can't seem to live within our budget.

Its not bushes fault (he's retarded) its the governments. F the government! Anarchy!!

we suck were makeing ourselfs go into debt so we are all dumb:) wada go america u scrued ourselfs over

go buy a house or throw money at a bank if you want to help the debt

The Community Reinvestment Act was signed in 1977, toyotawhizguy should stop being hypocritical and do his own research before putting a title like "Take a close look at Clinton".

Also to spa about Barney Frank, it actually was Bush that caused the housing market to crash after putting less regulations on mortgages by putting people in houses they couldn't afford...... Barney Frank was opposed to what Bush was doing, from which Bush can be blamed.

Before the 2009 take over by Obama, Pelosi and Reed the average person owed a bit over $30,000 towards the national debt, each household owed almost $100,000 toward the national debt. THIS MEANS THAT OUR FEDERAL GOVERMENT AND THE PEOPLE WE ELECT TO REPRESENT US AND TO LOOK OUT FOR OUR BEST INTERESTS HAVE SPENT ALL OF THE ASSETS THAT WE AS CITIZENS HAVE WORKED A LIFETIME TO ACCUMULATE, IN HOPES TO FUND OUR RETIREMENT AND PROVIDE SOME KIND OF AN ESTATE FOR OUR HEIRS. NICE GOING FEDS, NOW THE OBAMA, PELOSI, REED ADMINISTRATION HAS ALMOST DOUBLED THAT AMOUNT.

we've been sold out,by the very people we've elected. this here is exactly what the one responsible love to foment, to blame certain individuals,to blame the dem or rep ,it's all of them the military industrial complex, congress, our fearless god leaders, the central banking system, all three branches, yet it's our fault and to a point not our fault. we've entrusted public servants to do our bidding and like a plumber or an electrician you just cannot know what it is they are doing, but a kind face and endearing personality we disarm ourselves and make the mistake of trusting someone.maybe the tv in which i truly believe has a big part of dumbing us down, improper public education,lack of research, and yes pres. wilson screwed up big time , but he knew and regreted the nail in the cross mistake by allowing the federal reserve to print money out of thin air and controll, literally control our fate as a nation, our constitutional republic and everything this country stood for. we've been sold out to the real criminals of evil. this is not by chance but by deliberate and calculated and well funded by the ones who literally owns each and every one of us. are we not soveriegn people?

we are in debt??????????

So if America pay all this money out to China there will be no econmy. Am I right Or Wrong YOU DECIDE !!!

The federal reserve likes us to be in debt to them. The bible says that the borrower is servant to the lender. When our debt is high enough they will confiscate our gold, and this time silver too, just like they did in the 1930's. The price of gold isn,t quite high enough yet...................

Bush did spent a lot of money but he also created hundreds of thousands of jobs. (sure Dick Cheney and Bush personaly had their hads on some of that money) Do you realize what out unemployment rate would be today if that money was never spent. Its not just one person to blame, the gov is way to big and huge corporations have politicians coming out of their pockets. The gov needs to stop all the hand out and make people work for the money they get FILL THAT POTHOLE if you want your unemployment check. the only way to compete with China (who owns 2.7trillion of our debt) is our own form of cheat labor. where would we get that???? how about all the people on wellfare? stop spending taxpayers money on prisoners, if they want to eat make them work for that food. Why should my money go to sustain someone that raped 6 young girls and murdered others? If I owned a corporation that GM and I had union people demanding to get paid 50+ a hour for standing on an assembly line with no education I's sure out source to mexico too. THE PROBLEM WITH AMERICA IS AMERICAN'S!!! everyone wants to get rich but no one wants to work anymore. were never going to get out of this and most of my peers age 24 and no idea how out of control this is and how were going to suffer when were older.

So you have a private financial industry that makes money from debt and debt based products, kill the economy with debt and gambling on top of the debt, expect a bailout and you want to blame public spending? right wing idiots. DOn't worry, the UK have just as many of them as the U.S.

Wall st. find a way of making borrowing even cheaper and more plentiful and tell the government that credit is the way forwards, and the only problem is that there isn't enough credit. More people should be borrowing more to gain assets. Sensible right?

What makes this activity possible, other than the criminal activity in rating debt, is that the casino that is derivatives are gambled, sorry traded OTC (over the counter) not on an exchange.

this means that institutions take on unlimited amounts of it with no outside inspection of the products and no accounting for where the [leveraged] money comes from to do these trades. Why do you think the losses are so collossal and bailouts so large?

Think about it, when you buy a security, its from an exchange where other market participants implicitly 'rate' it. If you pay too much or too little, you lose, or profit but the only 'danger' is if everyone borrowed everything invested and lost. but they don't - they can't. The system 'cannot' go bust.

If derivatives were traded on an exchange, their 'true' value would be far more apparent and the worst excesses would be automatically curtailed, and be subject to normal trading disciplines. Asset prices couldnt be inflated. Massively speculative derivatives would never exist.

Problem solved.

Of course the institutions won't allow this. They wouldn't make the huge amounts of money they do right now because most derivatives wouldn't make any sense.

This means we get a bust system as bets go the wrong way. And because the economy can't function without banks we have to bail them out - including their gambling losses.

We might have been on a long path to txfer of wealth to the far east, but boy have we accelerated it. In a decade, we will not have the same NHS, or education system cos it will be unaffordable. Private services will cost too much and we won't re-recruit govt employees for nurses / doctors.

if you look at the debt we owe 77% of it to either ourselves or our goverment. lets just call it even. Why the hell does the goverment owe itself money??? we need to close our boarders and become self reliant and tell the rest of them to go stick it and that they aren't getting any more from us. We have the oil and everything else we need. We have become a county with our hand out and now it's run over into our goverment. People we need to get off our asses and wake up before we get woke up one day by another country taking over not by war but because they have come to repo our ass.

Doesn't the recent Fed audit show them loaning out $16 trillion dollars. Surely that did not come out of their own funds. If that is true, wouldn't the US debt then be increased from $14 trillion to $30 trillion?

bush is a dumb ass look at at the $ we owe china i planed on goin there for my summer so im scared to go now

weve been in debt since we were introduced to america in the 1700s

Our debt to Europe is really obsolete--considering we protected and completely rebuilt them with our own funds after the World Wars . . . In all honesty, they have nothing valid to hold us too . . .

The sad truth is that anything that can be made can be made cheaper someplace else. So why not send all manufacturing jobs out of the country. Now we can also import all of our food as well. All we hae to do is print money, right?

The jobs must come back before the FED goes bankrupt. Then we will have neither jobs or money for the poor.

We have become like a great eagle that is trading feathers for fish. Or like a farmer who trades land for food.

This free for all trade policy must stop

This web site shows 45% owed to Fed but the KC Fed Chairman said 24% of the 15 trillion and another says that it is 11%. Who is correct? If the Fed were abolished today, how much would they say the tax payers owned them?