Well as long as I am blogging away on various stuff, here is an extended bit about our deficits:
From 1791AD through 2002AD our National debt accumulated to a total of 5.7 trillion dollars.
From 02′ through 2004 it jumped to 7.5 trillion dollars.
Then from 04 to 2008 it leapt to 10.6 trillion dollars
THEN, this year (2009) from Jan-November 2009 it moved up to 12 trillion (we just ticked over the 12 mark yesterday – 11/17/09).
Now the current 2010 projected deficit is: 14 trillion dollars in FUNDED deficits.
The Scariest number? Unfunded deficits as of now: 106 TRILLION dollars. (SSI, medicaid, etc. + debt)
Now for comparison. If we take the ENTIRE fortune 500 combined profits for last year, we get this number: 98.8 billion dollars.
If the US quit spending money and just confiscated this profit to pay down the CURRENT FUNDED deficit, it would take: 142 YEARS to pay it off.
If the US Government were to quit spending altogether, and confiscate that amount from the fortune 500 to pay down the UNFUNDED deficit, it would take approximately 1081 YEARS to pay off the debt.
And some of my friends wonder why I think stuff is coming to a screeching halt soon unless we the people say enough is enough. And EVEN if we do say this, and vote this scabrous bunch of criminals out of office, we’re still in for a very rough road ahead.
I wonder if this is what some Romans felt like when the Gauls encircled the city at the end.