U.S. Government Debt
Have you ever wondered to whom does the United States Government owe all that $15 trillion of money? We mostly hear in the main stream news media about how much we owe China. Well, I decided to check it out. Here is what I found to whom we owe all this $15 trillion of debt in order:
l. 42.2% - U.S. individual and institutional investors
2. 17.9% - Social Security Trust Fund
3. 11.6% - Other Various Foreign Nations
4. 7.5% - China
5. 6.4% - Japan
6. 6.0% - U.S. Civil Service Retirement Fund
7. 3.4% - United Kingdom (Great Britain)
8. 2.1% - U.S.Military Retirement Fund
9. 1.6% - Oil Exporters
10. 1.3% - Brazil
Source: U.S. Treasury Department
What is interesting is the U.S. Government owes the Social Security Fund $2.68 trillion. More than enough to fund it into the next millennium. Problem is the greedy politicians could not keep their gruby hands off such a pile of money and they spent it for God only knows what leaving the Trust Fund with a bunch of worthless U.S. Government Treasury notes stored in a lock box somewhere in West Virginia.
Much the same goes for the U.S. Civil Service Retirement Fund ($.09 trillion) and the U.S.Military Fund ($0.375 trillion). Who knows what that money was spent for? And, where are the worthless U.S. Government Treasury notes stored? With the Social Security Fund Treasury notes?
By far the biggest debt holders are United States individual and institutional U.S. Treasury Bond investors ($6.33 trillion). I wonder at what point the Obama administration will do to them what they did to the corporate bond holders of General Motors and Chrysler.
And, since we owe Brazil $0.195 trillion, why in the hell do we give them foreign aid money for offshore oil well drilling? And, why give them a big defense contract to build airplanes for our Air Force? (Think Soros.)
To grasp the meaning of a $trillion consider this: If you were to begin to count one dollar bills one per second it will take you 31,790 years (yes, years) to count a $trillion. And, our debt is a little over $15 trillion. That is over $50,000 for every man, woman and child in the United States.
And, Obama doesn't think we have a spending and debt problem! Else, he is following the Saul Alinsky playbook.
BO must GO in 2012
l. 42.2% - U.S. individual and institutional investors
2. 17.9% - Social Security Trust Fund
3. 11.6% - Other Various Foreign Nations
4. 7.5% - China
5. 6.4% - Japan
6. 6.0% - U.S. Civil Service Retirement Fund
7. 3.4% - United Kingdom (Great Britain)
8. 2.1% - U.S.Military Retirement Fund
9. 1.6% - Oil Exporters
10. 1.3% - Brazil
Source: U.S. Treasury Department
What is interesting is the U.S. Government owes the Social Security Fund $2.68 trillion. More than enough to fund it into the next millennium. Problem is the greedy politicians could not keep their gruby hands off such a pile of money and they spent it for God only knows what leaving the Trust Fund with a bunch of worthless U.S. Government Treasury notes stored in a lock box somewhere in West Virginia.
Much the same goes for the U.S. Civil Service Retirement Fund ($.09 trillion) and the U.S.Military Fund ($0.375 trillion). Who knows what that money was spent for? And, where are the worthless U.S. Government Treasury notes stored? With the Social Security Fund Treasury notes?
By far the biggest debt holders are United States individual and institutional U.S. Treasury Bond investors ($6.33 trillion). I wonder at what point the Obama administration will do to them what they did to the corporate bond holders of General Motors and Chrysler.
And, since we owe Brazil $0.195 trillion, why in the hell do we give them foreign aid money for offshore oil well drilling? And, why give them a big defense contract to build airplanes for our Air Force? (Think Soros.)
To grasp the meaning of a $trillion consider this: If you were to begin to count one dollar bills one per second it will take you 31,790 years (yes, years) to count a $trillion. And, our debt is a little over $15 trillion. That is over $50,000 for every man, woman and child in the United States.
And, Obama doesn't think we have a spending and debt problem! Else, he is following the Saul Alinsky playbook.
BO must GO in 2012
posted by Donald G Davidson at 12:47 AM
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