Ever wondered about the US Government Debt?

[ricktas]

Ever wondered what 114.5 Trillion look like this puts it into perspective





One Hundred Dollars



http://i248.photobucket.com/albums/gg175/snoopytas/100.jpg
$100 - Most counterfeited money denomination in the world. Keeps the world moving.






Ten Thousand Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/10000-1.jpg
$10,000 - Enough for a great vacation or to buy a used car. Approximately one year of work for the average human on earth.


One Million Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/1mill.jpg
$1,000,000 - Not as big of a pile as you thought, huh? Still this is 92 years of work for the average human on earth.

One Hundred Million Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/100mill.jpg
$100,000,000 - Plenty to go around for everyone. Fits nicely on an ISO / Military standard sized pallet.

One Billion Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/1bill.jpg
$1,000,000,000 - You will need some help when robbing the bank. Now we are getting serious!

One Trillion Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/1trill.jpg
$1,000,000,000,000


When the U.S government speaks about a 1.7 trillion deficit - this is the volumes of cash the U.S. Government borrowed in 2010 to run itself.
Keep in mind it is double stacked pallets of $100 million dollars each, full of $100 dollar bills. You are going to need a lot of trucks to freight this around.

If you spent $1 million a day since Jesus was born, you would have not spent $1 trillion by now...but ~$700 billion - same amount the banks got during bailout.



One Trillion Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/1trillcomp.jpg
Comparison of $1,000,000,000,000 dollars to a standard-sized American Football field and European Football field.
Say hello to the Boeing 747-400 transcontinental airliner that's hiding on the right. This was until recently the biggest passenger plane in the world.

15 Trillion Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/15trill.jpg
$15,000,000,000,000 - Unless the U.S. government fixes the budget, US national debt (credit bill) will top 15 trillion by Christmas 2011.



Statue of Liberty seems rather worried as United States national debt passes 20% of the entire world's combined GDP (Gross Domestic Product). In 2011 the National Debt will exceed 100% of GDP, and venture into the 100%+ debt-to-GDP ratio that the European PIIGS have (bankrupting nations).



114.5 Trillion Dollars
http://i248.photobucket.com/albums/gg175/snoopytas/114trill-1.jpg
$114,500,000,000,000. - US unfunded liabilities


To the right you can see the pillar of cold hard $100 bills that dwarfs the WTC & Empire State Building - both at one point world's tallest buildings. If you look carefully you can see the Statue of Liberty.

The 114.5 Trillion dollar super-skyscraper is the amount of money the U.S. Government knows it does not have to fully fund the Medicare, Medicare Prescription Drug Program, Social Security, Military and civil servant pensions. It is the money USA knows it will not have to pay all its bills.
If you live in USA this is also your personal credit card bill; you are responsible along with everyone else to pay this back. The citizens of USA created the U.S. Government to serve them, this is what the U.S. Government has done while serving The People.

The unfunded liability is calculated on current tax and funding inputs, and future demographic shifts in US Population.

Note: On the above 114.5T image the size of the base of the money pile is half a trillion, not 1T as on 15T image. The height is double. This was done to reflect the base of Empire State and WTC more closely.

[kiwi]

I've seen this before, but it's such a great
way to visualize the massive amounts talked of

[agb]

Just goes to show that America is as the say a big country.

[Tannin]

Amazing graphics, Rick. Well posted!

Now, where does that debt come from? There are two main sources: first, their collosal military budget.

The United States spends more on weapons and other military items than the next 18 nations put together. That's right, more than -

People's Republic of China
France
United Kingdom
Russia
Japan
Germany
Italy
Saudi Arabia
India
Brazil
Australia
South Korea
Spain
Turkey
Canada
Iraq
Israel
United Arab Emirates

- all put together. Those 18 nations, remember, are the biggest-spending military nations on earth besides the USA - which spends as much as all of them put together.

That's gross figures. What if we adjust for the size of the economy - i.e., what if we ask what proportion of the total wealth of each nation is devoted to military expenditure? Is the USA still the biggest spender? Not quite. But only 9 nations out of the 153 for which figures are available spend more on arms as a proportion of GDP. These well-known paragons of peace and civic virtue are in fact Eritrea, Saudi Arabia, Oman, United Arab Emirates, Israel, Chad, Jordan, Georgia, and Iraq. Every other country on earth spends less on weapons than the USA.


The second reason for the massive debt is that they don't pay taxes, not to speak of, they just keep on borrowing more and more money.

List of countries that pay more tax than the United States (as a proportion of GDP) -
(not in any order)

Australia
Japan
United Kingdom
Canada
New Zealand
Denmark
France
Israel
Russia
Sweden
Switzerland
Austria
Belgium
Portugal
Hungary
Spain
Ukraine
Norway
Finland
Italy
Brazil
Luxembourg
Netherlands
Iceland
Germany
Ireland
Greece
Poland
Czech Republic
Bolivia
Tonga
Jamaica
Montenegro
Trinidad and Tobago
Romania
Namibia
Macedonia
Slovakia
Dominica
Latvia
Guyana
Seychelles
Estonia
Turkey
Barbados
Mongolia
Moldova
Serbia
Bulgaria
Malta
Botswana
Cyprus
Slovenia
Swaziland
Bosnia and Herzegovina
Lesotho
Cuba
Zimbabwe
Kiribati


So they spend it like water, and they are not prepared to put their hands in their pockets to pay for everything they spend - it's not so surprising that they are going out the back door, is it?

[ving]

$10,000 per year... thats not going to pay the bills.

Pretty shocking debt really

Sent from my TR718D

[Scotty72]

No matter how many times you see it visualised, it is staggering.

Apparently, for every dollar the US raises in tax, it spends more than another 50 cents- that it borrows.

revenues: $2.092 trillion
expenditures: $3.397 trillion (2010 est.) cia world factbook (2010) this is getting worse in 2011 - hence the current crisis.



Of the $2 trillion they raise in taxes, over 1/3 of that is spent of their military ALONE (approx $800 billion).

The numbers are SO big, they just seems unreal.

[ricktas]

I think even more scary is that this nation (USA) is nuclear weapons capable. Into the future they could become dangerous simply because their financial system collapses completely.

[Kym]

If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand. -Dave Ramsey

[Tannin]

If the US Government was a family, they would be working three days a week and making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.

Edited for balance - it's not just that they spend too much, they don't pay any tax to speak of either. Less than pretty much every other first world country on the planet.

[Bennymiata]

If you think the US is bad, it's far worse in many countries in Europe.

At least in the USA, they more or less tell the truth about their debts and budget, whereas in Europe, they have been lying for years.
Almost all of the European countries have run huge deficit budgets since WW2, and a lot of this money has just been given away to people.
They hand out money like water for health, pensions, paying farmers NOT to grow things - it's really amazing.
As soon as one of their countries go down, watch the rest of them tumble like a deck of cards.

Take my father for example.
Just after WW2, he was working in Belgium for about 3 years.
About 10 years ago, he saw something in the paper saying that Australia and Belgium has signed a deal regarding pensions, and that if anyone here had worked in Belgium and had papers to prove they paid tax there, they could now claim a pension.
So, my father being my father, kept all his paperwork and went in to see the Belgium consulate, presented his papers, and has been receiving a pension of 100 Euro a month ever since.
He reckons he got a good deal, as he only ever paid out a few hundred dollars in tax when he worked there.

[ApolloLXII]

Nothing surprises me about the level of the U.S. debt. When you run an economy based on greed and the need to be the major economic and military power in the world then running up huge debts like they have was always bound to happen. The sad part is that we'll all end up paying for their (and other countries) economic mismanagement. :(

[Duane Pipe]

China is now the new super power because of its growing economy and military might, so should Australia still stand by America as one of its allies, as Rick mentioned The US is nuclear capable and is the only county to have used them in a hostile manor.
I personally think that we need a WAR to cut the population growth, Its either war or some kind of super virus that kills Millions of people, the world is struggling to cope with the population now, imagine it in 20 years

[Scotty72]

China is now the new super power because of its growing economy and military might, so should Australia still stand by America as one of its allies, as Rick mentioned The US is nuclear capable and is the only county to have used them in a hostile manor.
I personally think that we need a WAR to cut the population growth, Its either war or some kind of super virus that kills Millions of people, the world is struggling to cope with the population now, imagine it in 20 years

Don't get carried away. China's military capability and spending is still only a small fraction of the US. Granted, it is growing but, still a long way back.

I agree, that the US is still the most powerful, dangerous and aggressive bully on the block - and if they do get into a dire fiscal mess, they may 'do something dumb.'

A WAR to solve overpopulation? Great idea. Where should we start? Traralgon? :lol:

Scotty

[Kym]

Where should we start? Traralgon? :lol:

It's started ... in London

One thing that will help the yanks is if China floats the yuan. That would level things up, but cost China in the process

[farmer_rob]

But why would China float the Yuan? It helps everyone else and not China!

(I also don't see China ramping up military spending - wasted money. They'll conquer the world economically, much cheaper and they make money in the process.)

[JM Tran]

sorry guys, China is still a long way to rightfully challenge the US for premier superpower status despite what people think. Spending time working and holidaying in China in various regions over the last 4 years has shown that they still have many, many issues before they can fully flex their muscles ie. domestic problems which are swept under the rug from foreigners.

Here is a very good article re. China's responses over the US economy in the last few days -

http://www.smh.com.au/opinion/politics/china-cant-afford-to-be-too-gloating-20110808-1ij3x.html

The global financial crisis starkly illuminated the fact that while America habitually over-consumes, China habitually under-consumes. Where the US saves too little, China saves too much. It is obscene that a country with as many poor people as China should have amassed $3.2 trillion in foreign exchange reserves, the biggest treasure store the world has ever known.

In 2009, China formally acknowledged its responsibility to correct this "structural imbalance" in the global economy. That would include allowing higher wages, more domestic spending and a better welfare system. It should also include a stronger Chinese currency, improving the purchasing power of the Chinese people. All of this would improve living conditions in China and rebalance the world economy but it would also prove disruptive to China's employers. And the biggest of those is the government itself.

"It's clear that China has to rebalance, and it's clear that the rebalancing will be painful,'' Michael Pettis, a professor at Peking University, told the Wall Street Journal yesterday. It's also clear that China has been making painfully slow progress in this task. None of its commentary yesterday made any mention of this agenda.

It is no doubt easier, and much more fun, for Chinese officialdom to rejoice in America's woes than to confront the difficulties in fixing its own.

Read more: http://www.smh.com.au/opinion/politics/china-cant-afford-to-be-too-gloating-20110808-1ij3x.html#ixzz1UXDRc48S



I'll weigh in with my experiences and opinions of the US military during my time exercising with them in northern Australia 5 years ago.

I was in awe of the military expenditure and might of the US Marines, and thats one of the smaller arms of the American military might. The amount they spend on inventory and technology is incredible, its hard to picture it but you really have to see it with your own eyes. Luxury goods such as flying in ice cream and soft drinks to men in the field by helo is almost unheard of in most militaries. Let alone the Marines telling me they left quite a number of utility trucks behind in Guam to rot without caring about repairs - simply as its easier for them to get a new one shipped in than spend the time and money repairing it is ridiculous.

If they can just cut back on the military expenditure - it would make a noticeable impact on the deficit atm. Such as cutting back on the number of super aircraft carriers being pumped out still, cutting back on the over-reliant of technologically advanced equipment etc - and focus instead on the quality of training of the men and recruits first - because thats a lot cheaper. No offence to any current or ex US military members on here, but the quality of soldiering is not up to par with many smaller nations, especially Australia.....!

[ricktas]

Sorry JM, but comparing a $3.2T surplus of a county of over 1 billion people to a deficit of over $140T from a county of 250M people is a bit like chalk and cheese. Yes China has some issues, but what country doesn't?

Australia could do a lot more to help our Aboriginals, yet we still have huge issues within this segment of our communities, lifespans, healthcare for these Australians. China is making improvements, but as we can see from our own experiences, throwing money at an issue doesn't necessarily fix it.

[Duane Pipe]

A WAR to solve overpopulation? Great idea. Where should we start? Traralgon? :lol:

Scotty

Start with Traralgon, why not Scotty,:D If I survive I would be able to get a job in the Construction industry rebuilding the place
at the moment there is no work here unless your a school lever or a professional:(

[Tannin]

as we can see from our own experiences, throwing money at an issue doesn't necessarily fix it.

Very sensible. I agree. So when are the Yanks going to learn that throwing more money at their military than the next 19 nations put together doesn't make then safe?

[JM Tran]

Sorry JM, but comparing a $3.2T surplus of a county of over 1 billion people to a deficit of over $140T from a county of 250M people is a bit like chalk and cheese. Yes China has some issues, but what country doesn't?

Australia could do a lot more to help our Aboriginals, yet we still have huge issues within this segment of our communities, lifespans, healthcare for these Australians. China is making improvements, but as we can see from our own experiences, throwing money at an issue doesn't necessarily fix it.

Of course its chalk and cheese, thats why I posted the link before more people on here will say China is taking over or surpassing the US etc, from previous posts. Obviously all countries have some form of problems big and small hence there is no utopia. BUT, before we all get carried away with thinking China will be replacing the US as the premier world superpower - everyone should read that article. No country even comes close to the US regardless of their deficit or loss of credit rating, full stop.


China is now the new super power because of its growing economy and military might, so should Australia still stand by America as one of its allies, as Rick mentioned The US is nuclear capable and is the only county to have used them in a hostile manor.

Big call there Duane, but no. China still has A LONG WAY to go before to even be able to challenge the US sorry. All facts point to that.

[Scotty72]

I agree with JM.

Having studied Chinese history and having many friends living across the Middle Kingdom. China is more likely to (in the short term) go to war with itself than the USofA.

Inflation (esp food) is rampant across many areas of China and they are starting to suffer the consequences of over-production and rapidly rising wages etc.

Now that over 55 million of them are going on overseas holidays / studying every year, the genie is out of the bottle. Chinese will demand social, economic and political reform as they get a taste of 'the good life'.

A very good friend of mine works in the Shenzhen stock exchange - she assures me the economic issues in China (mostly unequal wealth distribution and corruption) are huge.

Of course, it suits the xenophobic political discourse in Oz to play up fear of a militaristic China.

Scotty

[Chilli]

If you think the US is bad, it's far worse in many countries in Europe.

At least in the USA, they more or less tell the truth about their debts and budget,

:vomit1:

[Chilli]

AA+ rating, not low enough.

http://www.youtube.com/watch?feature=player_embedded&v=SgNLTb58K_Y

[Bennymiata]

S&P are the same people that rated the US mortgage bonds (the ones that started GFC) as being AAA too, so I wouldn't trust them very much.

Many people owe more than they earn.
Take an average worker that earns say $50K a year taking out a $300K mortgage.

[Phil777]

Thanks Rick for a great presentation. Perhaps you could have used the reverse side of the US one dollar note with the pyramid on it.

You also show the Statue of Liberty and the Twin Towers of the WTC. The Statue of Liberty was a gift from French Freemasonry.

If you line up the Statue with the twin towers you will find that the UN buildings and plaza are in direct alignment.

There are 13 levels on the pyramid (plus an all seeing eye hovering at the top), 13,000 watts on the torch and 13 million square feet of office space in the WTC. Wow - lotta 13's there!

In the Bible 13 stands for sin and rebellion against God.

Can the US pay back its debt?

I see that the UN has been calling for a new global currency to replace all the different ones around. (Global currency = global government?)

Where is all this going?

[ricktas]

Thanks Rick for a great presentation. Perhaps you could have used the reverse side of the US one dollar note with the pyramid on it.

You also show the Statue of Liberty and the Twin Towers of the WTC. The Statue of Liberty was a gift from French Freemasonry.

If you line up the Statue with the twin towers you will find that the UN buildings and plaza are in direct alignment.

There are 13 levels on the pyramid (plus an all seeing eye hovering at the top), 13,000 watts on the torch and 13 million square feet of office space in the WTC. Wow - lotta 13's there!

In the Bible 13 stands for sin and rebellion against God.

Can the US pay back its debt?

I see that the UN has been calling for a new global currency to replace all the different ones around. (Global currency = global government?)

Where is all this going?

The bible you mention is the King James version (most common version used in the world today). This version was created between 1604 and 1611. The references to 13 are there for all to see, but they were created by MAN. Friday the 13th came about (and thus the issue of 13 being bad) cause it was a Friday and a 13th when the Catholic Church in 1307 rounded up the Knights Templar and destroyed their Order. Up till that time the Templar were an ingrained part of European Infrastructure and Society (they started the first Banks) The number 13 thus became known as being associated with something bad, but this was caused by the Church, not a higher entity.

The UN haven't been calling for a global currency as such. It has been suggested that we need an independent currency for trade between countries. At present the USD is the preferred currency for international trade. The UN (and particularly Russia, Brazil and a few others) want a new currency, not associated with any one country to become the currency for international trade. It is not being touted as a replacement for all the currencies of the world, but rather in addition to them.

[neil70]

what would happen if china and the other debtors of the usa came calling for there money??

[JM Tran]

what would happen if china and the other debtors of the usa came calling for there money??


that would spark a massive upheaval in the US and world markets most likely leading into another GFC.

same dreaded scenario when Japan - one of the largest overseas and US investors will come calling - if and when they suffer from another monumental disaster such as a major earthquake in Tokyo, which will make the recent tsunami and earthquake disaster pale in comparison. Thats pretty much the big nightmare facing a lot of people.

[Scotty72]

Then again, if the US defaults, then:

China suddenly loses $1,000,000,000,000 + ;
China's largest customer suddenly has much less money to buy Chinese 'stuff';
China's economy falls through the toilet and Australia's biggest customer stops buying our dirt.:(

Me thinks that China and the US are both in the same dilemna : if (or is it when) the US defaults, both are stuffed.

And much of the rest of the world will be stuffed too

[Phil777]

The bible you mention is the King James version (most common version used in the world today). This version was created between 1604 and 1611. The references to 13 are there for all to see, but they were created by MAN. Friday the 13th came about (and thus the issue of 13 being bad) cause it was a Friday and a 13th when the Catholic Church in 1307 rounded up the Knights Templar and destroyed their Order. Up till that time the Templar were an ingrained part of European Infrastructure and Society (they started the first Banks) The number 13 thus became known as being associated with something bad, but this was caused by the Church, not a higher entity.

The UN haven't been calling for a global currency as such. It has been suggested that we need an independent currency for trade between countries. At present the USD is the preferred currency for international trade. The UN (and particularly Russia, Brazil and a few others) want a new currency, not associated with any one country to become the currency for international trade. It is not being touted as a replacement for all the currencies of the world, but rather in addition to them.

Most Christian scholars believe that the Bible (original Greek and Hebrew text) was created by man but inspired by the Holy Spirit.

For instance the Greek gematria for Revelation 12:9...'The great dragon was cast out, that old serpent, called the Devil and Satan.'
is 2,197 or 13x13x13.

The author of sin, satan, is branded by God with his own trademark.
Look at some of his titles.
Dragon. It occurs exactly 13 times and its gematria is 975 - 75 x 13
Tempter. Gematria 1053, 81 x 13
Belial. Gematria 78, 6 x 13
Murderer. Gematria 1,820, 140 x 13
Serpent. Gematria 780, 60 x 13.

Getting back to money might I suggest you don't put your trust in money. It is just a piece of paper.
Or now it is more likely just some bits on a computer.

And remember Revelation 13:17 (KJV) "And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name"

Isn't it true that we see regularly on our TV news that more and more selling and buying is taking place via the internet?

[Phil777]

And, quoting Paul McGuire,
"The invisible elite who control America, the U.K. and Europe can use economic collapse to bring in their one world currency and one world economic system. The recent "fake debate," in Washington D.C. regarding the debt ceiling and the budget, basically exposed the fact that, both political parties are controlled by the international bankers. A non-Constitutional Super Congress was put together with 6 Republicans and 6 Democrats, who have already agreed on the program, to put together a deal with the President. Anyone who did not agree, such as fiscal conservatives were, not allowed to join the Super Congress. A Council of 13, including the President will make the decisions for us in secret meetings.

The Congress voted to give over our entire economic system to international bankers, when they voted late Christmas Eve for the Federal Reserve Act in 1913. The Super Congress will also meet late Christmas Eve, when the American people are not paying attention. These "deals' are always done in secret and in the darkness." - End quote. (Note:- 1913)

Note also that the Parliamentary Committee that investigated the Murdochs and their News of the World phone hacking scandal in London comprised 12 plus a chairman, making 13.

[Kym]

Mel Gibson was on TV last night in the movie... Conspiracy Theory !

But was that coincidence or a conspiracy?:confused013

:lol:

[bobt]

International economics is a complex jigsaw, and I don't pretend to fully understand how the various currencies and governments interact and bring us to this point of potential meltdown. There are however two fundamental factors that appear to be reasonably predictable when you adopt a simplistic overview of where the world now finds itself.

The first is that historically civilisations have produced empires, and these have grown into powerful entities which inevitably have imploded. The US would appear to be another one of these empires which is reaching critical mass. The second observation is even more basic. Any economic system must balance its income with its expenditure whether it be a family or a nation. So many nations simply ignore this basic principle, and thus we find Greece, Italy, France, the US, Spain and others suddenly coming to the realisation that they have been living beyond their means. Most of us recognise that fundamental fiscal approach in our own households at a much earlier stage. I am constantly amazed at the manner in which so many people and countries just ignore this fundamental principle.

It simply reinforces one of my favourite sayings ....... "The main thing we learn from history is that we don't learn from history."

[Scotty72]

Gee! And some people thought my question about the census was 'out there' :cool:

Rather than men in dark suits pulling magic levers that trigger economic armageddon in order to take over the world - perhaps we can blame our tendency towards material greed.

We all don't wanna pay taxes but, expect govt to pay for more and more. It seems that the US and Greece are becoming the poster boys for this sort of mad thinking. Yes, even more than Australia.

[Scotty72]

Note also that the Parliamentary Committee that investigated the Murdochs and their News of the World phone hacking scandal in London comprised 12 plus a chairman, making 13.

OMG! jury trials...
12 in the jury PLUS 1 judge

13.

Trials are a conspiracy to take over the government. :lol:

[Phil777]

OMG! jury trials...
12 in the jury PLUS 1 judge

13.

Trials are a conspiracy to take over the government. :lol:

But you omitted to mention the 13-man Super Congress in the US which adds a second group of 13 involved in government.

Both of these happened within about 18 days of each other as well.

Keep tuned and see what happens next.

[Steve Axford]

Gee! And some people thought my question about the census was 'out there' :cool:

Rather than men in dark suits pulling magic levers that trigger economic armageddon in order to take over the world - perhaps we can blame our tendency towards material greed.

We all don't wanna pay taxes but, expect govt to pay for more and more. It seems that the US and Greece are becoming the poster boys for this sort of mad thinking. Yes, even more than Australia.

I must admit that it pales when compared to some stuff. Some things are hard to comment on.