THE NATIONAL DEBT

You may go directly to SUMMARY & CONCLUSIONS if familiar with the details of our national debt. Otherwise, we strongly recommend proceeding.

All numerical data herein comes directly from the U.S. Government offices of the CBO, GAO, and the Treasury. Nothing comes from the media or elsewhere. Links will take you directly to the government web pages containing the data used here. Be sure to come back (and your "back" button will usually bring you back to the POOP page at the spot you left).

WHAT'S MORE, the pages that follow represent a kind of "working through" on our part, a search for answers among possibilities, or what might be called the bare bones of our mental process in attacking the national debt problem. Some of you may want to read our final conclusions first.

The U.S.Treasury debt count to the penny

Ed Hall's National Debt Clock

Addendum to Ed Hall's debt clock

Supposing your son came home on spring break and told you that he lost $5,000 at the casino an hour's drive from his college. He was repentant, upset, and afraid that you would not help him out of his mess, but you did. After lecturing him on the pitfalls of foolishly losing money, you lent him five thousand dollars with the understanding that he would pay you back, with interest, once he graduates and finds a good job. You rationalize it all as an investment in your retirement.

Suppose further, that the next time he came home, and in response to your query about how things were going, your son told you: "everything's a lot better, I only lost $3,800 at the casino this time."

After many of these disappointing reunions, and a great deal of your money invested in your retirement scheme, your son comes home with a large flip chart. Unfolding it before you and your spouse, and extracting his telescopic pointer, he shows you graphic proof of how he is "reducing the deficit." While it once stood at as much as $5,000, the line now plunges dramatically to a mere $1,640 which he needs immediately. He shows you proof of the "glide path" he's on and how his need to borrow will someday be over. He beams with satisfaction and pride. He wants you to pat him on the back for his achievement.

How long would you put up with this sort of behavior? When would you draw the line and say: Hey, enough is enough. It's over. There are much better places to invest money. You're not getting another cent from me. In fact, you would need to begin suspecting that your previous investments were down the drain, would you not?

Suppose further, that your son began mumbling about " bankruptcy " around the "House." How would you then feel about the paper promises you are holding???

Unfortunately, this is exactly the position of every American citizen.