In terms of the national debt, this means getting rid of the words the government assigns to two different sides of the debt—“public debt” and “federal debt.”

Public debt is money legitimately borrowed from private investors who loan money to the government. These are individuals, organizations, and countries that buy Treasury securities on the open market in return for annual interest and a final pay off which may be more than what they originally paid for the various bonds, bills, notes or savings bonds. It works like your home mortgage or any loan from a bank.

We authorized our representatives to raise extra money in this manner when we elected them to make decisions for us. In that respect, the phrase “public debt” is not so far off. Still, when it can be misinterpreted to mean that this is the only part of the debt that the public must redeem, then it’s deliberately misleading.

For clarity, we will change this to INVESTOR debt. Money that we, the public, owe to investors who have loaned our government money.

The phrase “federal debt” is much more misleading because it implies that the federal government is going to take care of this side of the debt and we don’t have to worry about it. Nothing could be further from the truth.

The federal government, our representatives in Congress and the Administration, ran up this side of the national debt without our consent, without any sort of contract between lender and borrower, and did so by stealing money from entitlements like Social Security and Medicare overpayments. Money that’s supposed to be used only for the purpose for which it was collected. The government calls it “borrowing,” but it’s outright theft. Theft to which, by the way, they are now confessing.

It’s also true that the government could not pay off this side of the national debt even if they were all John D. Rockefeller clones. The money to pay off this “federal” side of the debt will, like the other side, come from no one but American taxpayers, the working public.

Since this second side of the debt is all money stolen from entitlements and represented by bogus bonds deposited in trust funds, we will call this the TRUST FUND side of the debt.

I thought seriously about calling these the “honest” and the “dishonest” sides of the national debt but, even though true, decided that would be a little too bombastic.

Now, with that out of the way, let’s take a look at our national debt:

You may also notice that this Treasury Report was released before the national elections without a peep from the establishment media or any of the so-called watchdogs from either political party. Am I the only one watching this sort of thing?

Most importantly, you will notice that the red “Trust Fund” portion of the national debt is increasing while the blue “Investor” portion of the debt is decreasing. Figures that express each of these values are available from the Treasury Department’s Bureau of Public Debt.

The expansion of the Trust Fund portion of the debt and the compression of the Investor portion is due solely to the Clinton/Gore money laundering activity. Due to nothing more than transferring debt from one credit card to another. And doing so while the overall debt continues to rise.

Since 1998, your federal government has been engaged in a money laundering operation of moving debt from the legitimate cash bearing interest side of the national debt, to the illegitimate non-cash bearing interest side of the debt. The latter being the side where they pay interest by simply handing trust funds more bogus bonds, at absolutely no cost to them. A big cash savings advantage for the government, but not for you or your children.

Interest paid to Investors, and we are only taking about cash interest paid to the blue portion of the table above, does not show or increase that portion of the debt because it’s given to the investors annually to do with as they please. Interest does accumulate, however, in the Trust Fund portion as part of the debt to be paid by you and your children because you have absolutely nothing to say about it.

In one brief moment of Al Gore’s campaign for the presidency, he correctly said that he and Clinton had been paying down the “public” debt. But then he went right on to claim that he was going to pay off the entire national debt by 2012. Not mentioning that he would do this mostly with your entitlement money. More in a moment.

The composition of the surplus was no secret to Al Gore. He had figures and estimates of final figures for months. All supplied by accounting offices like the GAO, Government Accounting Office, or the CBO, the Congressional Budget Office.

Well, now we all have it from the September Monthly Treasury Report. Here it is:

It’s the same money that is supposed to be invested wisely every year, and ever since Social Security was taken off the pay-as-you-go system in 1983 and put on a “partial reserve” system. What instead is slush money that has been increasing at a higher and higher ratio.

One, raising taxes is obvious. Two, borrowing from the public means putting it on the Investor credit card for you to pay later, with interest. And three, reducing discretionary spending means you give up something else you’ve paid for with annual income taxes.

No matter how you look at it, no matter how spinsters try to make it sound like the government will take care of it, it all comes from you, the taxpayer, in one way or another. And this is the second time you have paid these taxes, now with interest added.

How about all the other entitlement trust funds? How about the negative amounts in the Medicare, Highway, Airport & Airways, Unemployment and all of the other federal trust funds? There are 163 federal distrust funds holding nothing but bogus bonds. Promissory notes that are just waiting and accumulating. Waiting for you and your children to buy them back with real sweat equity, negative interest added.

In cases like Social Security, Medicare, gas taxes and those entitlements that everyone paid, this amounts to double taxation. You made the first payment that was stolen. Now, you are required to pay again.

In other cases that were user taxes, where only a limited number of people paid excess taxes that were stolen, everyone ends up paying these back. It’s not a double payment for everyone, just payment for something you didn’t use or get any benefit from in the first place.

Do you enjoy having Al Gore and other Democrats tell you that they are taking your retirement, health, and other overpayments to pay down the national debt in a money laundering sting?

Some day, some nice-guy President will stand before you or your children to deliver a momentous speech. A speech like this:

Today is a monumental day in the history of this great nation. It’s the day when we finally pay back the last dollar borrowed from investors who were willing to loan us money. But it’s also the day when we can eliminate the entire $12 trillion national debt.

How can we do this, you might ask. Well, we can do it with just one simple push of a button. There is nothing left in the national debt but nonmarketable bonds. And I am going to eliminate those in one fell swoop, with the push of this button. At least, I’m going to eliminate all but the ones providing our federal perks. Ha. Ha. (Last comment lost in the applause of three million bureaucrats)

I want to thank the American people for working so hard to make this country great. And I want to thank the Fourth Estate, watchdog groups and citizens for a sound economy who helped make all of this possible. Their loyalty, vigilance, and penetrating depth analysis has stimulated my teams to plunge forward tentatively in some of our darkest debit hours. (More wild applause)

With that, the illegal and bogus nonmarketable bonds will be stricken from the ledgers of all entitlements. It’s the only thing that makes sense to the money laundering scheme. Do you have a different possible scenario?