So what? Does it matter? Of course not. It hasn't mattered for well over
sixty years. Didn't matter under Clinton, Bush Sr. Reagain, Carter, Ford,
Johnson, Nixon (did I leave out anyone?), Eisenhower . . . correction . ..
Nixon did something to correct it partially and Kennedy tried to do so.

Measured against GNP as a percentage it's nothing. That's the arguement
Doug used on me last time. Once you invoke that you are home free. The
rest is just silliness like worrying about five or ten nukes in N. Korea.
Hell . . .I'm used to worrying about ten thousand plus of the things pointed
at me. Neither do I worry about the National Debt or the annual budger
imbalances . .. .

All you have to do to get rid of it is do like the last administration.
Take it "off budget" and ignore it. Then you can claim a budget surplus.
In point of fact there has never been a budget surplus when the books are
balanced. Take a quick look at the Dept of Treasury website. End of
conversation. The rest is just meaningless BS.

As long as the majority of the nation thinks we are solvent, we are solvent
(faith standard versus gold standard or rabbit skin standard or wampum
standard or whatever else). Now of course the electronic symbols on
computer tapes have been given the same status as printed money or (in the
old days) coined money (not since what? 64 or 65 have we minted coins) or
against tokens (look like coins but no intrinsic value).

Let's suppose the situation gets really, really bad. Two types of things,
make that three, will happen.

Employment gets low enough there will be a war and employment will rise
dramatically. Might be a shooting war, might be a war on poverty, might be
a war against kangaroo rat infestations. Doesn't matter.

Individual programs get too hard to handle then the original intent will be
enforced. For Example Social Security is for " those who are destitute".
Read the original law that established the program. Do away with those at
the top who really don't need it and voila! No problem. Course if you
retire on $25,000 or so plus a year plan on getting shafted.

Finally look at the example of Nixon and Kissinger when they did away with
the Johnson Debt. Simply create an artificial shortage of a basic
commodity. Float scare rumours of $2.00a gallon gas, let the price float
from 35 cents to nearer one dollar and then you can raise the taxes on fuel.
Can't tax fifty cents on thirty five cent a gallon gas can you? Scare
people into thinking $5 a gallon gas is around the corner . . .let it settle
at $2 plus and bing taxes can now raise to $1 plus.

Another name for this is debt devaluation or 'your investment ain't worth as
much as you thought when you loaned out the money." That's another phrase
for PERS or IRA or any other retirment fund investment. The whole thing is
BS of the highest magnitude.. .. .and not worth worrying about. Want a real
scare? The unfunded debt of the nation is now hovering around 50 trillion.
Unfunded military retirement, unfunded Social Security, unfunded Railroad
Retirement, unfunded Medicare and Medicaid. And that's only through the
lifetime of the baby boomers.

In truth, the only debt worth worrying about is your own. $10 Big Mac's
anyone? What is worth worrying about is how much per foot is the cost of a
sailboat and where in the world you can make what you have left last as long
as you need it.

Can anyone properly define the term "money?"

MST

The ONLY thing worth worrying about is when enough people say, "The emperor
(government) has no clothes." Once enough people realize the government has
not intention of paying their bills .. . . . . . .

Well. . .no one said everything lasts forever . . But in the immortal words
of Alfred E. "What me Worry?"