(It
has been since 1933 when THE UNITED STATES, INC. became bankrupt, and
then 3 months later We The People became their Collateral as the
CREDITORS! Yet they failed to tell the People, and now each and every
Government Corporation Official pays us back or goes to jail!!!)
United
States Government Debt to GDP Ratio is 312% and Climbing
Posted
By: Lymerick
Date:
Tuesday, 8-Sep-2015 05:00:55
07.09.2015
by William Edstrom
The United States (US) government often cites
$18 trillion as the amount of money that they owe, but their actual
debts are higher. Much higher.
How big is USA's debt?
The government in the USA owes $13.2 trillion
in US Treasury Bonds, $5 trillion in money borrowed by the US Federal
government from Federal government trust funds like the Social Security
trust fund, $0.7 trillion for state bonds issued by the 50 states, $3.7
trillion for the municipal bond market (US towns, cities and counties),
$1.97 trillion still owing by Freddie Mac and Fannie Mae, mostly for bad
mortgages in years gone by, $6.23 trillion owed by US government
authorities other than Fannie Mae and Freddie Mac, $1.04 trillion in
loans taken out by the US Federal government (e.g. government credit
card balances, short term loans) and $0.63 trillion in loans owed by
government authorities (e.g. their government credit card balances,
short term loans). As of April 1, 2015, according to the Federal Reserve
Bank's Financial Accounts of the US report, the government in the USA
has $32.5 trillion in debt excluding unfunded government pension debts and unfunded government healthcare cost.
Debt is money that has to be paid. The
government in the USA also has to pay $6.62 trillion for unfunded
pension liabilities, as of April 1, 2015. There are thousands of
government pension plans in the USA (e.g. County, State, Teacher's,
Police). The Federal Employees Pension Plan is now short $1.9 trillion
according to the Fed's March 2015 statement plus $4.7 trillion in
unfunded state and municipal pension liabilities according to State
Budget Solutions which calculates on actual pension returns (approx.
2.5% per year from 2009 to 2014, instead of the fantasy 'assumption' of
an 8% return used by the Fed to guesstimate pension fund money). The
largest governmental pension fund in Puerto Rico ran out money (became
insolvent) in 2012 and the government now has to pay $20.5 billion for
that. Pension contributions into government pension plans have been less
than what these pension plans pay out to retirees which is why the US government was short by $6.62 trillion for government pensions as of April 1, 2015.
The DJIA has fallen 12.5% since the Spring. $6.3
trillion in governmental pension plan money was invested in wall street
as of April 1st. Additional government pension plan losses have been,
so far this year, $0.79 trillion. As of August 29, 2015, the government
in the US owes $7.41 trillion for pensions. Every additional 10% the
DJIA drops (from it's Spring 2015 high), is another $0.63 trillion in
unfunded pension costs that the US government has to pay.
The US Federal government owed $1.95 trillion in
unfunded entitlements for the Federal Employees Pension Fund as of
April 1, 2015. Unfunded entitlements are health care benefits for
retirees above and beyond Medicare benefits. States, municipalities and
governmental authorities owe an additional $4.2 trillion for retiree
health benefits. Medicare and Medicaid costs, about $0.83 trillion in
2014, escalate 6% a year and Obamacare adds $0.18 trillion a year in
governmental health costs, mostly for subsidies. Medicare, Medicaid and
Obamacare costs will escalate to $1.28 trillion in 2018.
Bottom line, as of September 3, 2015, the
government in the USA owes $46.04 trillion (bonds, unfunded pension
costs, unfunded healthcare costs, credit card balances and loans).
How does USA intend to pay government debt?
SNIP
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