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Article posted Dec 26 2012, 12:51 PM Category: Commentary Source: Wendy McElroy Print

Repudiate the National Debt

by Wendy McElroy

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."

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Comments Add Comment Page 1 of 1

Posted: Dec 27 2012, 4:34 AM

74235 Just wait a few more terms, maybe the next sucker will do like all the others and pretend to fix it, while spending it like crazy on all my colleagues ponzy organizations and agencies! Wonder what other agencies we can create when FEMA, DHS and TSA get the next terrorist attack to prove they are also worthless like all the others and just waste tax payers money?

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