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You Owe $455,000
George Washington Blog
Thursday, July 17, 2008
If you opened your credit card statement and it said that you owe $455,000, you would be quite concerned, right?
If you got a letter from the IRS saying you owe $455,000, you’d be upset, right?
Well, I’m sorry to tell you, but you really do owe $455,000.
(ARTICLE CONTINUES BELOW)
According to the Government Accounting Office, each American household owes $455,000. This is your share of the $53 trillion in long-term liabilities held by the U.S.
You may have heard that “deficits don’t matter” or that these huge liabilities will be paid off during future boom economic times.
But listen to the words of non-partisan government experts on these issues:
- The St. Louis Federal Reserve Bank posted a paper entitled “Is The United States Bankrupt?“. The paper provides the following answer: “The United States is going broke”
- The United States Department of the Treasury and the Office of Management and Budget published a report stating that the U.S. cannot grow our way out of the government’s liabilities, that the liabilities are quickly growing, and that failing to take drastic and immediate action would lead to very bad consequences (the report was written in 2006)
- The International Monetary Fund – which oversees third-world economies – are so concerned about the solvency of the U.S. economy that they are conducting a complete audit of the whole US financial system
If you owed $455,000, you might very well have to file for bankruptcy, unless you had some rich uncle who could bail you out. But if your uncle had bailed you out numerous times in the past – and if you had consistently broke your promises to re-pay him – he’d probably cut you off.
The U.S. owes $53,000,000,000, and our rich lenders – China, Saudi Arabia, Dubai, etc. -
are getting very tired of bailing us out. As Merrill Lynch recently pointed out, our “rich uncles” are seriously considering turning off the spigot on the U.S., to stop throwing good money after bad. The U.S. is already insolvent, but our government is hiding that fact from the average American. If our “rich uncles” cut us off and call in the debt, the U.S. may be forced to take drastic measures – like selling our physical assets to the lenders at fire-sale prices – just like debtors in bankruptcy court are forced to do every day.
Even if we can convince our creditors to keep lending us more money, the $455,000 each household owes will keep skyrocketing higher and higher. And as our government prints more and more greenbacks to try to bail out the big firms on Wall Street, we will all become serfs and wage slaves toiling away to pay off these debts and to buy the ever-increasing costs for necessities caused by run-away inflation.
You can thank both parties for this fine mess we’re in. Presidents and Congress people from both parties have been selfish and ignorant about economics, and have been lulled into a “don’t rock the boat” mentality by the snake oil salesmen representing the wealthiest.
There’s Hope . . . If We Wake Up
There is hope. But it won’t come from tinkering with the current financial system.
We need a new, transparent government and financial system which lives within its means. As people like Congressman Ron Paul have repeatedly pointed out, governments which use “fiat currencies” always spend more than they have and get in trouble.
This decades-long charade must end, and we must get back to sound economic policy. If America is to survive, we must wake up and start practicing true economics once again.
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11 Responses to “You Owe $455,000”
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July 17th, 2008 at 1:09 pm
Fuck these cunts. I aint payin em shit!
July 17th, 2008 at 3:06 pm
I think the whole point of the decades-long charade is so America WON’T survive. Restructuring will be the only recourse. Merging countries, creating new currency, and parlimentary oversight will be a welcomed change to a very desperate people. Problem, reaction, solution….
July 17th, 2008 at 4:18 pm
It is time for the government to resign or be driven out of power to salvage what is left of America. But how bad do Americans really want it?
July 17th, 2008 at 5:10 pm
We kicked the British off this rock 300 years ago, we can kick off anybody else that does’nt kiss our ass!
July 17th, 2008 at 7:33 pm
Hey Jeff….North American Union and the Amero currency is already on the way….destroying the American dollar was planned.
July 17th, 2008 at 7:42 pm
I’m sure they will clam that they didnt’ know it was coming….just like 9/11! The sad thing is, the masses will believe it and continue to trust the government to protect them. It’s time for a change. Not the Barrack Obama type, rather the 1776 type. Purchase your guns now, legal or illegal, because it will be the only means we have to protect ourselves. I’ll be damned if I get put into some FEMA camp to rot and die. I’ll make sure there are a few less jackboot thugs to harass my neighbors,families and friends.
July 17th, 2008 at 10:11 pm
Just take back all the assets from those illuminati bastards, they stole all their money anyway.
July 18th, 2008 at 1:56 am
Papilion – the British still run the show. Long story, sorry – yet one shorter version can be found at http://www.redicecreations.com/article.php?id=1969
July 18th, 2008 at 3:32 am
Fuck the criminal syndicate we call the Federal Reserve. These are the Rothchilds, Warburgs, Rockafeller face fucks of the world. The 16th amendment was never ratified by the states. The FED is unconstitutional. Let’s kill this piece of shit and send it back to London.
July 28th, 2008 at 4:21 am
You owe this because you put up with it.
The world is putting up with your Governments mass murder.
WE CAN NOT TELL YOUR REPRESENTATIVES WHAT TO DO.
Leaving a message here is just as easy as sending one to your politicians, but sending one to them means they have to answer you. At least an American will have a job answering the Emails (until they ship that job to India)
And in Australia the Indians call us all the time trying to sell us telephone plans.
July 28th, 2008 at 4:26 am
And one more thing… Which will be read before my first comment.
10-10-2008 is the trinity of perfection
10-10-10 and three days later will be 33
Try to stay safe, these bastards have something planned for the little people. No doubt they will be safe, the ones with the real control anyway.