We also “owe” over $4 trillion to the Federal Reserve which funded QE1, QE2 and QE3 with funny money and they hold the debt.
Today we owe $19.77 trillion. And we really owe over $50 trillion in unfunded liabilities.
We are broke, bankrupt and insolvent. We are a disaster. We are a mess.
Donald Trump is providing a great public service to America. And that is that we are being hosed every day and now we know it!
The downfall is that like most men of the ilk of Don Juan Trump, Jack Kennedy and Bill Clinton, we are impulsive in wanting to get into your pants and don’t think about tomorrow. Case in point-Bill Clinton and Markie Post of Night Court fame. I remember watching her with desire but he actually did something. With power, money and fame comes real happiness, not just the pursuit.
We shouldn’t be arguing about $14, $20 or $50 trillion. We should be listening for politicians to stop saying “revenue neutral.”
We need to pull in more than neutral revenue to lower our debt.
No one talks about that.