Talk It Over: Ask Public Agenda
National Debt
By jonhinton on October 2, 2008
Who gets the interest on the national debt?
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Chinese gov't, oil interests in the persian gulf, japan gov't , euro gov'ts and US private interests
Here is a great website that will also take you to some of the Federal government websites. This first one explains the types of debt and who owns it: http://useconomy.about.com/od/fiscalpolicy/p/US_Debt.htm
I broke the dollar amounts for China and Japan (just for the heck of it). They are China, it puts us in debt to the tune of $736 BILLION (and they hate us and send us poisonous/deadly products that we don't dare not buy and have them call in their loans) and to Japan $672 BILLION.
Another real time debt site (constantly updating and giving you how much your family owes):
http://useconomy.about.com/gi/dynamic/offsite.htm?zi=1/XJ&sdn=useconomy&...
Some interesting info on our current debt from Glenn Beck's book Common Sense:
"Our debt: $11,000,000,000,000 (that's $11 TRILLION).
Interest payment each MONTH is $26,000,000,000 ($26 Billion)
So over $300 Billion PER YEAR)
With ONE monthly interest payment of $26 Billion we could fully fund the ANNUAL BUDGETS for the
Center For Disease Control ($6.1 Billion)
Coast Guard ($8.7 Billion)
and the Department of Interior (11.1 Billion)
With the ANNUAL interest payment of $300 Billion we could FULLY FUND FOR A YEAR the Deparments of:
Commerce ($8.1 Billion)
Education ($68 Billion)
Homeland Security ($42.3 Billion)
Housing & Urban Development ($52.3 Billion)
Energy ($23.2 Billion), Justice ($25 Billion)
Labor ($49 Billion)
& in 2019 ANNUAL INTEREST PYMT $806 Billion --- This $806 Billion is MORE than it cost to fund for ALL OF LAST YEAR:
the entire Department of Debense ($583 Billion)
Veterans Affairs ($86.6 Billion)
Department of Transportation ($68.7 Billion) AND
The State Department ($18.9 Billion)"
I purchased Where Does the Money Go? Your Guided Tour to the Federal Budget Crisis in 2008. I was wondering if the authors are planning a new edition to incorporate all of the economic upheaval that we have experienced in the past year and a half since the book came out.
Thanks,
pf1065
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