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I owe $30K and so do you

Posted by Jan Frel at 12:00 AM on March 17, 2006.


But I don't feel like the national debt is mine to pay.
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A post from the Pensito Review has me wondering about the extent to which the national debt is also my debt. I don't feel like it is. The latest tally has each American owing roughly $30k. But if our politicians openly concede that they can't relate to these staggering figures, then why should I? "It’s hard to understand what a trillion is. I don’t know what it is," confessed Senate Budget Committee Chairman Judd Gregg.

On another note, are these $3 trillion in debt extensions we've seen in Bush's five years of office something we should blame on Republicans, or the political class in Washington?

Opined commenter Bill Arnett on the Pensito Review "I have been watching the budgetary rape and pillaging of America on C-Span 2 for the last couple of days, and do you know what has been the biggest concern expressed by Senator Kent Conrad? He has several times openly bitched about the number of amendments offered, that they might have to work late because of them, and, horror of all horrors, if it keeps up they might have to work both Friday and Saturday! I sent him a email telling him that I doubt very much if those families with two or more members working full-time and still can’t break through poverty level really give a shit that, oh! boohoo! Kent Conrad, highly paid senator with per diem and other perks too numerous to mention might have to work on a Friday or Saturday! Just what kind of assholes are we Democrats, the Champions of the People, becoming when the good Senator’s time off is more important than working on this brutally pernicious budget? What a f*cking jerk."

Digg!

Jan Frel is an AlterNet staff writer.


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on another note
[Report this comment]
Posted by: LeDiablePlaisant on Mar 17, 2006 2:39 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
if these guys confess in such a facile way that they don't know what a trillion is, should they really be the ones in charge of the budget. it's a lot of effing zeroes boys. why does ignorance always get people off the hook in this country? fish should be so lucky.

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Tax and Spend
[Report this comment]
Posted by: wood on Mar 17, 2006 10:38 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
For the past 10 years leading up the the Bush Regime Ive had to listen to my republican" friends" talk about the Democrats spending spree on social programs. Regan did away with most of that and what he didn't get rid of Bush the Ist and George the II did. What these ya hoos don't own up to is the debt that they have accumulated.The Democrtats may tax and spend but the Republicans seem to think that borrowing is more fiscally responsible? I guess it's ok to borrow and spend as long as it is on the Military Industrial Complex and war and and after all "Rich" aren't taxed to do the spending!
I guess Dictators get to do what they want .
Cheers ya all!

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Over my cold, dead body
[Report this comment]
Posted by: mmeetoilenoir on Mar 17, 2006 12:29 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
Heaven forbid someone has to work an extra day or two, especially when you get off gods knows HOW many days a year and junk. Things like this make me beat my head against a wall.

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democrats vs republicans: simply a good cop/bad cop game
[Report this comment]
Posted by: BP on Mar 17, 2006 7:38 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
1. the people who run the country, both republican and democrat, are the super wealthy (with few exceptions)
2. our choices when we are allowed to vote are primarily rich people fronting for the super wealthy (with few exceptions)
3. the MSM are wealthy and front for those with more wealth, and lead the national conversation of distraction and division (with few exceptions)
4. the primary recipients of the debt are the wealthy and their children (with few exceptions)
5. the primary payers of the debt will be the less wealthy and their children (with few exceptions)
6. democratic politicians and their cohorts benefit from the current republican driven policies in the country so why should they actually stand up for the rest of us? (with few exceptions, examine the distribution of income over the last 35 years, both parties are complicit)
7. things will remain this way until people get over the mindless and simplistic labeling that passes for political discourse and put an end to the "animal farm"

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Sue GOP for damages
[Report this comment]
Posted by: watchdog on Mar 18, 2006 7:09 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
After looting the treasury just like ENRON looted itself, we should file a class action suit to recover the looting. Because Gonzales and Congressional GOP are encircling the Prez just like a Mafia Don, the RICO act should be applied to the GOP as well. The GOP is truly a corrupt and criminal enterprise.

It is galling that the party that complains about taxpayers' money being spent on the Arts (or pick any frustrated-angry white male issue) when it is at most 1 millionth the sum these crooks have plowed into their personal coffers, can demand with a straight face that liberals should pay it back. I think the GOP should pay for the war in Iraq!

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Tax cuts were partly to blame
[Report this comment]
Posted by: mincemeat on Mar 18, 2006 7:01 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
The GOP had to give all of those rich bastards endless tax cuts. Bush had to do what every rebublican does best, steal from the poor to give to big corporations and the rich. Now we can see what these tax cuts have done to our national debt. Our great grandchildren will be paying half of their paychecks for interest on the debt. At least the rich assholes can drive hummer's and live in gated communities while sending their little munchkins to private schools.

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» RE: Tax cuts were partly to blame Posted by: Marco Saba
johnny hempseed
[Report this comment]
Posted by: Johnny Hempseed on Mar 22, 2006 11:59 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
Jan. This is an interesting post,and something that is on alot of folks minds right now,but i believe that the figure is bogus.The 30k figure represents the portion of the current budget shortfalls and projected dept for all Americans ,every man woman and child.
The official dept does not include war expenditures that are not included in the budget.I think that is is based on current interest rates at the current rate of exchange with our principal deptors China ,Japan etc.Fluctuations in currency markets,interest rates,and the oil markets can all dramatically change the equasion.
Wage earners(victims of the payroll tax)and people wealthy enough to pay "income taxes" will bear the brunt of the dept.Not all Americans as it is spread out over in these projections.So.... if say one in three Americans are activly paying taxes, and the other two are retired,or too young to contribute the figure can be adjusted to $90,000-$130,000.00 per taxpayer depending on inflation ,and many other factors.Of course i am not an economist and as Dick Cheney says"Reagon proved that deficits don't matter"
Learn to speak Chinese! Peace out!

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johnny hempseed
[Report this comment]
Posted by: Johnny Hempseed on Mar 22, 2006 12:11 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
One Trillion dollars! If in the year one AD I borrowed one Trillion dollars(had they existed) interest free.(usary being illegal),and suppose I paid back one thousand dollars a day every day until the present day.I would still be in debt way over my head! Do the math! $8,300,000,000,00 why do you think they took the debt clock out of Times square?
Again Peace out!

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