The American Empire in a Changing World


Sunday, April 10, 2011

Michael Tanner, of Cato Institute estimates US Total Debt: $120 Trillion........$400,000 per person.....


"To put it in admittedly oversimplified perspective: our current obligations, including both implicit and explicit debt, total more than 900 percent of GDP. The combined wealth of everyone in the United States who earns at least $1 million per year equals roughly 100 percent of GDP. Therefore, you could confiscate the entire wealth of every millionaire in the United States and still barely make a dent in the amount we will owe."
"Tanner estimates the nation's total debt -- including unfunded liabilities for Medicare and Social Security -- is $119.5 trillion -- $400,000 per capita" it here

1 comment:

  1. Simply if I owe 400,000 dollars in debt I did not authorize. It will not be paid. And if I am on the hook I will be looking for the house and other items I must receive in return for my money.

    I do not care what they pass in the middle of the night there is no credibility in our government and I do not see them as having any authority to place debt on me. I did not consent. I will not consent.