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Our $100 Trillion National Debt »

Posted By populist 2 months ago in Business & Finance
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Who says so? The President of the Dallas Federal Reserve, Richard W. Fisher. In a May speech at the Commonwealth Club of California, he states that the US national debt is close to $100 trillion. You can read his whole speech at the Federal Reserve web site.

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    doppich2 months ago

    He calculates the "debt" over an "infinite horizon," but estimates the share of those liabilities as an instant "owing" for today's population, not over the same "infinite horizon." Whatever spin he needs to push his ideology, I suppose.

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      doppich2 months ago

      Just to be clear, I am referring to the Medicare/Social Security part of the author's concern. The debt accumulated by Bush and Cheney after first p!ssing away the surplus is indeed near-term and not on an "infinite horizon."

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      hyperbola2 months ago

      These kinds of stories are often scare-mongering aimed at turning over still more of american wealth to the super-rich.

      If we were to add up the future costs of our oil consumption (of which the pentagon is the largest consumer) and "defense" expenditure, it would make these numbers look small. We could then say that the future is so bleak that we should stop all commerce immediately.

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        ACDARKSIDE2 months ago

        Has anybody seen the movie, America, Freedom to Fascism. That is who the goverment owes the money to.

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