3 ms·

Sounds a bit more accurate, but pretty much just as scary. If you add in your share of the national debt, it gets really scary. Politicians likely won't have

Sounds a bit more accurate, but pretty much just as scary. If you add in your share of the national debt, it gets really scary. Politicians likely won't have the backbone to deal with making cuts/raising taxes so the likely outcome is sustained inflation.

MoreMoschops 16y ago
On the plus side, the majority of the national debt is owed to people and bodies within the country; in essence, the government representing the people has borrowed from those people on behalf of those people.
TomOfTTB 16y ago
Just to give the full number the average Californian owes $132,655 with National Debt, State Debt and Consumer Debt (including mortgage, car, etc...) U.S. Debt: http://www.usdebtclock.org/index.html http://www.usdebtclock.org/index.html California Debt:http://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html http://www.usdebtclock.org/state-debt-clocks/state-of-califo... Consumer Debt: http://www.youngmoney.com/get_out_of_debt/california-leads-nation-in-consumer-debt/ http://www.youngmoney.com/get_out_of_debt/california-leads-n... (Though that doesn't include the estimated $1,012,540 per citizen in unfunded liabilities)
- rbranson 16y ago
  Let's not conflate "unfunded liabilities" with actual current debt load though. While both dollar figures, they are wildly different in nature.
  - TomOfTTB 16y ago
    I specifically didn't include them in the total for just that reason
  - kevin_morrill 16y ago
    Yes, but when Social Security money suddenly doesn't show up for a whole generation of people depending on it to retire, and in many cases no longer able bodied to work, the turmoil will be plenty upsetting.
bugsy 16y ago
National Debt has become an imaginary number. I don't owe a cent on it. Let the banksters pillage the economy and try to collect on a nation of bankrupt people with rifles.
- kevin_morrill 16y ago
  It's as serious as a heart attack. Everyday billions of dollars, which represent immense man power and dedication, are spent in pursuit of the unearned. That means the goods and services you buy today are more expensive because every dollar you spend is competing with all that borrowed money. That alone is plenty bad. I won't even begin to talk about the repercussions of bankruptcy (or runaway inflation) that you shrug off. Modern day Greece, pre-WWII Germany, Zimbabawe aren't/weren't tourist destinations for a reason.

MoreMoschops 16y ago

On the plus side, the majority of the national debt is owed to people and bodies within the country; in essence, the government representing the people has borrowed from those people on behalf of those people.

TomOfTTB 16y ago

Just to give the full number the average Californian owes $132,655 with National Debt, State Debt and Consumer Debt (including mortgage, car, etc...) U.S. Debt: http://www.usdebtclock.org/index.html http://www.usdebtclock.org/index.html California Debt:http://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html http://www.usdebtclock.org/state-debt-clocks/state-of-califo... Consumer Debt: http://www.youngmoney.com/get_out_of_debt/california-leads-nation-in-consumer-debt/ http://www.youngmoney.com/get_out_of_debt/california-leads-n... (Though that doesn't include the estimated $1,012,540 per citizen in unfunded liabilities)

rbranson 16y ago
Let's not conflate "unfunded liabilities" with actual current debt load though. While both dollar figures, they are wildly different in nature.
- TomOfTTB 16y ago
  I specifically didn't include them in the total for just that reason
- kevin_morrill 16y ago
  Yes, but when Social Security money suddenly doesn't show up for a whole generation of people depending on it to retire, and in many cases no longer able bodied to work, the turmoil will be plenty upsetting.

bugsy 16y ago

National Debt has become an imaginary number. I don't owe a cent on it. Let the banksters pillage the economy and try to collect on a nation of bankrupt people with rifles.

kevin_morrill 16y ago
It's as serious as a heart attack. Everyday billions of dollars, which represent immense man power and dedication, are spent in pursuit of the unearned. That means the goods and services you buy today are more expensive because every dollar you spend is competing with all that borrowed money. That alone is plenty bad. I won't even begin to talk about the repercussions of bankruptcy (or runaway inflation) that you shrug off. Modern day Greece, pre-WWII Germany, Zimbabawe aren't/weren't tourist destinations for a reason.