RT: US debt six times greater than declared – study

“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap,” Kotlikoff said in an interview with National Public Radio. “That’s our true indebtedness.”

According to the US National Debt Clock, the US government has a $16.8 trillion debt, which comes out to be over $53,000 for each US citizen. Looking at those steadily accumulating numbers, it is difficult to see how the US will square the circle of a steadily-aging population together with the harsh reality of the modern economy.

2012: What's the 'real' truth?

Published time: August 06, 2013 10:23
Edited time: August 06, 2013 11:14

Reuters / Kim Hong-JiReuters / Kim Hong-Ji

The United States has accumulated over $70 trillion in unreported debt, an amount nearly six times the declared figure, according to a new study by University of California-San Diego economics Professor James Hamilton.

The unique aspect of Hamilton’s study  is that he examines federal debt that has not been publicly released, specifically the government’s support for “housing, other loan guarantees, deposit insurance, actions taken by the Federal Reserve, and government trust funds.”

Since the global economy hit rock bottom in 2008, US federal debt has gone through the roof, increasing from $5 trillion to an estimated $12 trillion in 2013. Meeting the interest payments alone on that debt burden presents a formidable challenge for US taxpayers: In addition to the debt, Americans must pay back around $220 billion annually just in interest.

And…

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11 Responses to RT: US debt six times greater than declared – study

  1. bluegrass says:

    Kunstler puts the next financial debacle in the next three months.

    I think the economy is going through three stages or realization, of which were in part 2:

    1. pre-2008: “progressive” growth (3%-5%), the kind the American system relies upon to meet debt obligations and keep the geopolitical system in its favor. However, it was predicated on precarious, mis-priced investments, in 08 the case of mortgage backed securities, that really fueled all the surplus liquidity.

    2. Post-08: “Limbo growth.” (.2%-1%) Enough growth to meet debt obligations, keep all the major institutions financed, and keep real unemployment under 15-20%. However, that’s all it can do, and can’t touch the interest on any these obligations, meaning a ballooning debt (as seen by article.) In this situation, everyone is uncomfortable, crying for more robust growth they had known in the past. People knowingly acknowledge that jobs created are low-wage and part-time, while simultaneously don’t question the long term viability of the system.

    3. Post-13/14/15/probably not longer than 15: Real, contractual numbers for the economy, running the gambit of 0% to -1% contraction each year. No matter the narrative at the time or what numbers the CBO is cooking, the people understand that things will be bad for an indefinite period of time. Wages will stagnate, but unemployment will rise due to structural layoffs. The Government will began declaring pseudo-bankruptcies (hardcore sequestration, not just cuts to automatic increases), that basically involve systematically choosing what government program or employee gets a check and which ones don’t. This will also be a time where no amount of FED policy could possibly hide the necessity of raising our ridiculously low interest rates. Once that happens, the Debt would become so astronomical that the dollar holders couldn’t handle the possible inflationary pressures.

    The intensity of the 3rd period really depends on how much the Banks can handle collapses to some of their more questionable investments (derivatives is the new gloomy cloud on the horizon.) This period will also force the FED towards either a policy of hyperinflation or to simply run their own sort of bankruptcy program on behalf of the banks. They may only meet FDIC obligations, and selectively choose which bad investments that be willing to take on behalf of the larger players in the system.

    This, of course, gives us a lot of wiggle room. People will be angry, and there’s going to be a lot less paycheck F.B.I. roaming the streets after us. However, this is when the system feels like a cornered rat, and the American military returns home and can’t help but begin looking domestically.

    • mindweapon says:

      This, of course, gives us a lot of wiggle room. People will be angry, and there’s going to be a lot less paycheck F.B.I. roaming the streets after us. However, this is when the system feels like a cornered rat, and the American military returns home and can’t help but begin looking domestically.

      Sure, but the Mindweapons won’t be attracting government attention. The non-whites whose expectations were smashed will go nuts, the Muslims might do some stuff, maybe some WN 1.0 people will do things. But we Mindweapons will be hunkering down adn remembering Rothschild’s saying, “the time to make money is when there is blood in the streets.”

      Stay focused on our goals — to own the local general stores/convenience stores, to own sustainable permaculture farms, to pretend to be such a nice, harmless hippie or Christian, all the while you are working to control economic niches and become a banker to your local governments. that’s how the Rothschilds made their fortune. Once they got the British government borrowing from them at 3%, they borrowed from other Jews at 2% and made the 1% premium. They used their vast fortune to bribe other politicians and aristocrats — often bailing them out of gambling debts or keepign their “Downton Abbey” pretensions alive for another few years, in exchange for radical changes in teh law and culture.

      We are the social critics now; we are the Rothschilds now, the hated Jews in the ghetto, the persecuted religious minorities.

      • Adit says:

        Personally, I’ve always thought that WN 1.0, contrary to opinion, will be useful. They’ll probably run blocking operations for WN 2.0 or hold back some of the brown tide till the rest of the white people get themselves a little organized. Think of them as Private Security guards but with a really bad attitude. Actually that would be a good cover for them. As long as they didn’t draw too much attention they’d be OK, esp. if their operations had the side benefit of helping the local cops retain order.

      • mindweapon says:

        When law enforcement is less than 100% effective they will indeed fill that role.

        I look forward to White people being able to simply object to race mixing publicly, to be able to express distaste for things in public, without the Five Fingers of Liberalism coming down on them. and once liberals are no longer paid, this is what we will have.

  2. Peak Finance says:

    I agree with all of this, but with one exception:

    Post-13/14/15/probably not longer than 15: Real, contractual numbers for the economy, running the gambit of 0% to -1% contraction each year. No matter the narrative at the time or what numbers the CBO is cooking, the people understand that things will be bad for an indefinite period of time.

    There is no way this goes another 15 years. NO WAY. They are literally KILLING (Middle-ages males now have the highest suicide rate of all groups, ever, in the United States) the middle class and upper middle class, these middle class people actually keep everything going. There is no manufacturing. There is nothing to support this country. We can’t sell enough burgers and coffee to each other to keep it afloat. It’s all smoke and mirrors.

    The only reason the country has not completely collapsed so far, is because of the 85 billion printed a month, which allows the Fed to control the stock and bond markets (for now). If that stops, it’s all over, so it will never stop, which in reality means that it will be death by hyperinflation for the current financial system. This is really the Weimar Republic all over again.

    • bluegrass says:

      sorry, I meant “post-13/14/15 probably not later than 15”. Not 15 years later.

      I.E., third stage highly unlikely to come around later than 2015.

      Well, in all fairness, America has a lot of wealth left, especially in hard-extract energy, and its out of all the Nations we have the most discretionary spending in which we could tighten our belts.

      If we we’re an entirely White nation with a decent civic culture, but with these levels of debt, I’d say we’d be able to make some substantial structural changes and come out okay.

      The problem I see is in selective obligations and various forms of bribery-as-foreign-policy that the U.S. functions by. (Think of Egypt, where we buy loyalty through aid).

      The selective obligation problem is the most pressing for the system, since each goody handed out effects groups specifically. Blacks see phony gov. Jobs, EBT, section 8, and most of the classic welfare as their bread and butter. With Whites, its social security, somewhat EBT, and the military industrial complex. (mass layoffs of police, military and the such would disproportionately anger White America.)

      So, if you’re an Elite, you have to choose between: massive black rioting, or angering the Whites ever closer to turning full National Socialist (which, for Jewish Elites is turning from a paranoid unjustified fear to their own self fulfilling prophecy.)

      Of course, they’d try and take it slow and basically expect Americans to adjust, but this is easier said then done.

      • mindweapon says:

        Bluegrass,

        The way I want to see Americans adjust is by economic relocalization which will serve two purposes:

        1. In the short term will make it less necessary for white people to riot, and more white people will survive. Thus we will less of a headache/threat to ZOG.

        2. In the medium and long term we will be less economically dependent on the government and middlemen. So ZOG will get peace from us, but their worst nightmare of becoming obsolete will be upon them. The only way they will be able to stay in their middlemen and tax farming niches will be by force. Firepower at Eradica claims that this is what is going to happen. If they do resort to hot lead and cold steel, in my humble opinion, it will be their undoing. Soft power is their power. Hard Power gets into the wheel house of White men. All the kings drones and all the kinds SWAT teams won’t put Humpty together again if the US gov goes NKVD on us.

    • mindweapon says:

      i agree, Peak Finance. I look forward to seeing the wheelbarrows full of Benjamins! If the internet is still up, I will post the photo on this blog the same day.

  3. Tom Bowie says:

    Given the nature of compound interest, the interest on the debt at some point in the past became greater than the principle. Given the nature of how economics are handled in the modern world much of the money created out of nothing may not even have been physically printed.

    I even wonder if every single bill and coin that has a physical existence were collected if there’d be enough for a good down payment on the debt at this stage.

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