When the U.S. government reports its debt, it does not include payment that it is required to make to seniors, veterans and retired employee. If those were included, as they should be, the US debt would be an far greater number than the already outrageous number the government does publish.
Accountant Sheila Weinberg, founder of the Institute for Truth in Accounting, has done the accounting correctly and has come up with these numbers: Total US debt $61 trillion, which comes out to $534,000 per household.
These numbers provide a picture of why the debt is really such a big problem. No way, no how can it be paid off, given the simple fact that most households don’t have $534,000 to turn over to the government.
Default is really the only long-term option. It will be done either in straightforward fashion, where the government pays pennies on the dollar for what it owes. Or it will be done in stealth fashion by the Fed printing up dollars to pay for the government obligations, which will create huge price inflation that will screw the average worker and also those on fixed incomes such as retirees.
http://www.economicpolicyjournal.com
Well if some writing about the financial high grade he shall be more analytic by all means or the folks never get it right nor could straighten it out. This US situation doesnt mean “pay back a non payable debt” but 100% control on the US government assisted by its betraidors. A 80% of the IMF empire (187 countries and currencies) are in the same situation. Such IMF is just a tool like it is with World Bank, Development Banks, Central or National Banks in the leading countries. We also can conclude after 10 years of screaming like hell that all governments are involved or at least cowards loving the known bad situation before a unknown better situation!
such sort of reminder seems to be necessary in order to understand the US foreign policy seeking for shelter and exploration on foreign ground. Still this is what any country would like to do because all of them are driven by the toxic financial background and nobody willing to change this deadly system. Love and happiness yours Lucky Saint Luis