National debt $10trillion… think again

Why are we not hearing more about the national debt?  I hear numbers being tossed around like $10trillion.  But no one seems all that concerned.  But I wish the debt were only $10trillion.  The true national debt is $53trillion.  How do I know this.  Well go to the actuarial tables at Social Security’s website and you see that the Federal Government has given Social Security an IOU for $43trillion.  This $43trillion will need to start being paid back in 2017.  Coincidentally in 2017, there will be only 2 workers paying into Social Security for every worker retiring or retired worker, so Social Security will absolutely need every penny of the $43trillion to honor its commitments.  So I say:  “HOW IN THE WORLD ARE WE GOING TO PAY THIS IOU?”   There is absolutely no way on gods green earth that this country can tax people at a level that would allow paying even a fraction of the $43trillion… otherwise, it would tax people at a level it would literally consume most peoples’ entire salary.  So again I ask: “HOW IN THE WORLD ARE WE GOING TO PAY THIS?”  This is staggering and no one is even talking about it.  But go to the Social Security website… the numbers are there in black and white.  Of course… it was much clearer in the 2007 annual report because 2007 was not an election year.  The 2008 annual report for Social Security obscures the numbers a bit, but the numbers are there… and the Federal Government or shall I say YOU AND ME, owe Social Security $43trillion.  Have a nice day!

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