Repudiate the National Debtby Wendy McElroy
Dec. 26, 2012
California: Woman Fakes Car Trouble, Has Armed Kids Rob Good Samaritan Who Stopped to Help
Christian Refugee Returns to Syria: 'I Was Scared When I Saw How Many Refugees Openly Pledged to ISIS'
GOP Says Voting Machines 'Miscalibrated' in District Lamb Won, Saccone Votes Switched to Lamb
Orban: 'The Youth of Western Europe Will Live to See When They Become a Minority in Their Own Country And Lose the Only Place in the World to Call Home'
Sweden: 65yo Woman Charged After Saying Mass Immigration Will Lead to 'Goldfish Level' IQs
As of December 19 at 11:50:59 a.m. GMT, the national debt of the federal government was $16,357,278,240,896.86, or $52,080.07 for every individual in the United States. The only sane and moral stance is to repudiate it entirely.
"Repudiation" is not a word used by the political mainstream. Part of the reason is who holds the debt. China is often castigated as the largest holder, but that country actually accounts for less than 8 percent of the money America has borrowed. On September 4, FOX News reported, "Fully two-thirds of the national debt is owed to the U.S. government, American investors and future retirees, through the Social Security Trust Fund and pension plans for civil service workers and military personnel."