Federal Debt up $26 TRILLION Since Dubya Took Office !!!

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For years I've been writing about the Federal Debt being much worse than the $400 Billion (annual) deficit that is often reported in the media. The total Federal Debt was $6 trillion when Bush came into office, now it's $8.2 TRillion and climbing, or so I thought. Then I read this:

The federal government’s fiscal exposures
now total more than $46 trillion,
up from about $20 trillion in 2000.

This staggering revelation was included in the US Dept. of Treasury's own report.
2005 Financial Report of the United States Government (1mb PDF)
(Page 28 printed, or pg 32 in Adobe reader)

That's an additional $26 TRILLION in debt since Dubya took office!

Here's the full quote from the Treasury report:

The current financial reporting model does not clearly and transparently show the wide range of responsibilities, programs, and activities that may either obligate the federal government to future spending or create an expectation for such spending. Thus, it provides a potentially unrealistic and misleading picture of the federal government’s overall performance, financial condition, and future fiscal outlook. The federal government’s gross debt* in the consolidated financial statements was about $8 trillion as of September 30, 2005. This number excludes such items as the gap between the present value of future promised and funded Social Security and Medicare benefits, veterans’ health care, and a range of other liabilities (e.g., federal employee and veteran benefits payable), commitments, and contingencies that the federal government has pledged to support. Including these items, the federal government’s fiscal exposures now total more than $46 trillion, up from about $20 trillion in 2000. This translates into a burden of about $156,000 per American or approximately $375,000 per full-time worker, up from $72,000 and $165,000 respectively, in 2000. These amounts do not include future costs resulting from Hurricane Katrina or the conflicts in Iraq and Afghanistan. Continuing on this unsustainable path will gradually erode, if not suddenly damage, our economy, our standard of living, and ultimately our national security.

*The federal government’s gross debt consists of debt held by the public and intragovernmental debt holdings.

An additional $26 TRILLION in debt since Dubya took office....

I don't know about you, but for me, this raises the question, why did Dubya want to be President? Is he a noble guy that wanted to help America? Or is "to loot and pillage" a little closer to the truth?

Let's list off a few under-reported facts

Did Dubya believe he was on a 'mission from God' - that's why he felt it was okay to have Jeb steal Florida? Or did they have other plans in mind - like PNAC's strategy for world domination- the "New American Century".

We know that Mr. Bush received that infamous memo titled "Bin Laden Determined to Attack in the US" on Aug 6th, 2001. Mr. Bush chose to remain on vacation for the entire month of August, then 9/11 happened.
This was the "New Pearl Harbor" PNAC needed to launch their global war on terror.

All this to run up $26 TRillion in additional debt... are we the people really responsible for this insanity?

The DC Democrats keep saying impeachment is impossible because the Republicans control Congress. They control Congress because they stole the elections. If they can steal the Presidential race, then stealing individual house races is easy.

Why can't one Democrat come out and say the case for impeachment is real- there is a ton of evidence that these guys should be impeached and tried for war crimes. Even if they're the only one out of 435... so what, let's have the debate, me against all 434 of you.

Why not cancel all tv programming and let this live debate air for 3 days straight until all the facts are on the table. Wouldn't it be cool to ask all businesses to close for three days during this event, let every citizen have the opportunity to hear the case. That would be a good use of our Public Airwaves.


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I propose a couple of ideas

#139 On Fri, 2006 03 17 12:10 A Citizen said,

I propose a couple of ideas that would go far in decreasing our national indebtedness. These are;
1. Abolish the Federal Reserve - we'd save about thirteen trillion dollars.
2. Create a second currency to be used for foreign exchange. This issue would be illegal in the United States proper, where the present currency would remain. But anyone tavelling abroad would have to exchange dollars for this alternate currency. Also, we should declare that eighteen months after this new currency is issued, all dollars held in foreign banks and other institutions will no linger be honored. This should flush out the dollars held in off-shore accounts to avoid taxes. The exchange should bring a flood of dollars back into this country, and these could be applied to the social programs; social security, education, veteran's benefits, health care, etc.
3. We should nationalize all multi-national corporations who operate overseas exploiting cheap labor at the expense of American workers.
Pay off the stock holders at a discount according to the percentage of such operations: if only 25% of their manufacturing component is within the United States, pay the investors 25% of the value of their stocks. Charters of these corporations to be restored when more than 75% of their work forces are Americans, in America.
4. Sell all overseas factories, warehouses, and other commercial infrastructure to the nations where they are located and charge them 2% of the profits from these installations over fifty years.
5. Adopt a temporary of isolationism - after all when you're sick you stay home and take care of yourself.

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Also, we should declare that

#141 On Fri, 2006 03 17 12:47 A Citizen said,

Also, we should declare that eighteen months after this new currency is issued, all dollars held in foreign banks and other institutions will no linger be honored. This should flush out the dollars held in off-shore accounts to avoid taxes. The exchange should bring a flood of dollars back into this country, and these could be applied to the social programs; social security, education, veteran's benefits, health care, etc.

This statement alone shows a complete lack of understanding with respect to market economics. Having that much cash hit the American streets will result in instant hyper-inflation e.g. all the dollars you currently have will be worth a whole lot less. The only reason the dollar is as strong as it is right now (heh, "strong") is because those foreign banks continue to hold dollars in reserve. Buying power does not increase simply by printing or releasing more cash; hence the Fed keeps track of inflation rates (to help determine how much money should be added to the market), publishes the M3 (not anymore) for investers to gauge the value of the dollar, and is supposed to show restraint when printing money.

Your dual-currency scheme is not justified in anyway. Why should we do this? Why not abolish the Fed and just place the dollar back on the gold standard? Oh that's right, we don't have any gold!

Your idea would cause global economic collapse, in the simplest possible terms.

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The cash would not, as you

#146 On Fri, 2006 03 17 18:15 A Citizen said,

The cash would not, as you put it, "hit the American streets" but would be held by the Treasury Department and distributed among the social programs I indicated, which are in serious arrears. The question is not about global market economy, that isn't working very well anyway: your statement that an inrush of dollars would create hyper-inflation only serves to make the point. We are hostage to the dollars in these foreign banks as the threat looms ever closer that these same foreign interests could adopt the Euro as reserve currency - the dollars would be flooding back anyway and we would have no plan to deal with it. Forty-six trillion dollars is a lot of money, the ineterst alone is out of sight, and when the deby limit has to be raised in order to keep the government afloat, then the handwriting is on the wall.
Something must be done. Our indebtedness is a hole that we have no hope of ever filling by the means and methods presently being employed. Having outstanding dollars returned to us will fill these holes, and we don't have to go on the gold standard. The present fiat currency issued by the Federal Reserve, see http://www.apfn.org/apfn/reserve.htm, which is 70% under foreign control, will suffice even though it isn't really money because it is accepted in payment for goods and services. Like it or not it's Monopoly money but it's all we have right now. I'm just saying that we should have more of it here where it's needed and where we can control it more effectively.

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#2 is already being

#145 On Fri, 2006 03 17 14:04 A Citizen said,

#2 is already being implemented with the "Crayola Currency." It is no good outside of the good ole US of A. Just ask at your post office, the people at the bank do not have a clue...

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YES to every idea here!

#147 On Fri, 2006 03 17 19:09 A Citizen said,

YES to every idea here!

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Да! (not meant as satire)

#151 On Sat, 2006 03 18 05:44 A Citizen said,

Да!
(not meant as satire)

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WoW! great catch! Really

#140 On Fri, 2006 03 17 12:14 A Citizen said,

WoW! great catch! Really damning evidence! And much of this debt (that's not due to war and insurance profiteering) is a direct result of accelerating interest payments. The system was mathematically impossible to sustain from the outset!

It'll take nothing short of national strike to get these vermin out of office. let's make it happen starting July 4, 2006.

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The ONLY solution is to

#142 On Fri, 2006 03 17 13:09 A Citizen said,

The ONLY solution is to enforce The Plan against the traitorous N.W.O. Zion-Nazi bankster mass-murder, inside-job perpetrators of OKC, 911, 7/7/2005 and the phoney War on Terror, and reinstate God's Perfect Royal Laws of Liberty:- http://i.am/jah/plan.htm

Time is running out:- http://i.am/jah/signs.htm

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Thanks for the

#160 On Mon, 2006 03 20 12:24 A Citizen said,

Thanks for the research!

Been trying to nail that down for a while.

It's a complicated mess, but it's good people are trying for solutions anyway.

"We can't solve problems by using the same kind of thinking we used when we created them."

Albert Einstein

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