How much money is there?
How much money is there?
According to the Board of Governors of the Federal Reserve System there was $1.1 trillion dollars in circulation as of July 18, 2012 … of which $1.07 trillion was in Federal Reserve notes. (see https://www.federalreserve.gov/faqs/currency_12773.htm)
According to the U.S. Debt clock (see https://www.usdebtclock.org/) the total U.S. Debt is almost $57 trillion or $181,357 per citizen ($684,548 per family).
Does anyone find it odd that we have a debt that amounts to 57 times more money than than even exists … to pay for it? Does anyone find it odd that the interest due on our debt (see debt clock) is $3.8 trillion (three times more money than is actually in circulation)? Should we be concerned with a debt of $57 trillion … when the gross domestic product is just $15 trillion?
Are our representatives in Washington doing an appropriate job when our “U.S. Unfunded Liabilities” amount to almost $119 trillion … indicating a liability per taxpayer of (wait for it) $1.05 million each?
Wikipedia tells us that the total U.S. debt to the Federal Reserve is just over $11 trillion … ten times more money than there is in circulation. Odd … wouldn’t you say? (see https://en.wikipedia.org/wiki/United_States_public_debt
Here is a good one … the Debt Clock shows the U.S. has a little more than $91 trillion in assets (including corporate and household assets). However, between the $57 trillion in Total U.S. Debt and $119 trillion in Unfunded Liabilities … our National Net Worth looks like a negative $85 trillion. (Yikes !!!!)
1. So who do we owe this too … and what will we do when they come to collect?
2. Are you satisfied with this situation?