Itís a Ponzi scheme!
Several times I have mentioned that the National Debt of about $9 trillion dollars1 is about $30,000 for every man, woman, and child in the USA.
You can get the answer your self by dividing $9 trillion which is 9,000,000,000,000 by 300,000,000 2 (300 million) which is the population of the USA as of July 2007.
That is $120,000 for that mythical family of four which includes two working parents and two children.
Do we really believe that your 4 year old and your 13 year old will ever be capable of paying off their $30,000 share of the National Debt?
I have not checked these numbers in a while but the last time I did the National Debt is only about one fourth of all the money the feds will have to pay out in the future. The other money will be required to pay off things like Medicare and Social Security which the Feds have promised to pay, but which are not part of the National Debt.
So multiplying the $9 trillion National Debt by four the total money the roughly 300 million Americans owe the Fed is $36 trillion dollars. And when you divide that figure by the 300 million each and every man, woman, and child will owe $120,000 towards the debt the American government has said that will pay.
Will your 4 and 13 year old be able to pay off their $120,000 share of the total?
Of course now the mythical family of four with mom, dad, and the two kids owes a total of $480,000 to the government.
Sure there are lots of very wealthy families in the USA who could pay off their share of the money the Feds will need from them to make ends meet. But clearly most American do not have $480,000 in cash sitting around to pay off their share of the government debts.
I have never really said how I think the Feds will avoid bankrupting the country. I am sure they wonít. Even though they effectively have bankrupted the country. They will want to continue playing the game so I suspect they will use smoke and mirrors to change the rules as they go along.
I was buying some potato chips in Circle K yesterday and the answer to what the government rulers have done to us popped into my head. They have stole all our money using a Ponzi scheme!
Of course if you or any other citizen in the land had stolen this much money with a Ponzi scheme they would be jailed for life. But the members of the U.S. Congress and Senate will never spend a day in jail and continue stealing our money thru this Ponzi scheme.
1 The $9 trillion number is as of January, 2008. When I checked the web site while I was writtting this article the number was at $9.194 trillion
2According to this government site the U.S. population is 301,139,947 as of July 2007.