I have trying to tell people for months just how bad this economy is. I have been trying to tell people we are broke, completely bankrupt. We owe more than we are worth.
Well, since I dwell here in obscurity, (I can do the simple math with the help of the US Debt Clock) take a look at what Ron Paul says. I think its even worse. So I snipped this paragraph from Ron Paul. Try these big girl panties on and think.
Since the national debt is increasing at a rate greater than a half-trillion dollars per year, the debt limit was recently increased by an astounding $984 billion dollars. Total U.S. government obligations are $43 trillion, while total net worth of U.S. households is just over $40 trillion. The country is broke, but no one in Washington seems to notice or care. The philosophic and political commitment for both guns and butter – and especially for expanding the American empire – must be challenged. This is crucial for our survival.
That's right. If the government could get everything we owned, we'd still owe 3 trillion.
And just for your viewing enjoyment, here is the debt clock. Scroll down to the very last line, the last entry on the right. And please, write your check for 350 thousand bucks and send it in.