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RE: Here is the US budget - Do You Agree with the "funny" Tag...?
National Debt does not equate to personal credit card debt. Most of that debt is actually held by the country itself.
National Debt does not equate to personal credit card debt. Most of that debt is actually held by the country itself.
Most of it is held by the FED, which just borrowed money into existence to buy it up, robbing everyone else who uses USD of their purchasing power by doing so.
Ok, but the Federal goverment, as a legal entity, is deeply indebted to a herd of creditors, at home and abroad... Using the family analogy, scrapping credit cards, one could say that they own money to relatives as well as to strangers...but they are broke nonetheless.
Actually, comparing a personal credit card to the national debt is VERY APROPOS.
Especially after you read Creature From Jekyll Island.
Just like the credit card, the national debt is secured by the labor of the american people.
Just like the credit card, the money loaned is made up out of thin air.
If you actually look into this phrase, you should be scared out of your mind.
Like, all of the money in social security is invested in "special" govern-cement bonds.
So, the govern-cement owes itself money? No, the reality is worse then that.