Monday, February 2, 2009

Monday Morning Update on National Debt

At the beginning of each month, I will post the total National Debt for the US.

It looks like about $10,639,319,410,269.98 assuming a total US population of roughly 305,575,ooo that is roughly $34,817.39 per US citizen not taxpayer but every man, woman, and child.

In the past, US debt was held by US citizen so no real big deal because US citizens are not going to decide they would rather have the cash now. See the problem yet.

If not then consider the value of a US dollar has declined during recent years in most countries. And now the Democrats are printing money. At what point do foreigh investors decide US currency is not worth the risk?

Putin recently spoke about the idea of discontinuing the use of the dollar in international transactions. This not really a new tactic for Putin as back in October of 2008, Russia and China were talking about switching any from the dollar as the international standard. Yeah I know the mass stream media could not fit in much discussion about this in between American Idol and idol worship.

Some say our children and our children's children will be paying this debt. No our descendants will struggle just to pay the interest.

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