How much money does the U.S.A. owes??? Could it be 56 TRILLION DOLLARS???

[Petros Houhoulis]

http://www.truthin2008.org/

[Mygdonia]

Yes they are in alot of debt and have been since 1982 or almost a decade after the gold standard was abolished.

If everyone wants to redeem their US dollars into gold their won't be enough gold to go around.

Futhermore, the U.S GDP is some $15 trillion so they are technically insolvent. If it was a company it would be broke.

[Petros Houhoulis]

http://www.thestreet.com/s/the-state.../10400586.html

The State of the Union -- and Its Debt

01/27/08 - 11:15 AM EST

Terry Savage

"Prominently displayed on the home page are two running series of numbers that increase almost faster than the eye can capture. The first is the "official" National Debt, which was $9,193,222,137,000.00 at the instant I checked. (That's the figure taken from the Treasury Department's Web site.) The number is growing by $1 million every minute!

Beneath it is another number, also constantly clicking higher. This, according to the Institute, is the true national debt figure: $55,146,513,890,000.00.

This calculation of the national debt includes all the "off balance sheet" liabilities of the government, such as its promises to pay benefits to Social Security and Medicare recipients far into the future, as well as military and civilian government workers' pensions.

In other words, the true liability of the United States of America is not only the Treasury bills, notes and bonds we sell to finance our annual deficit and past deficits. To get to the true liability, you must include all the promises we've made to make payments in the future.

That's how you get a staggering $55 trillion national debt!"

[Petros Houhoulis]

http://www.intelligentguess.com/blog...ata-from-1995/

http://www.intelligentguess.com/blog...om-1929-w2.jpg