Debt: Two chapters cover debt via color graphics - the first is Federal Government Debt only, the next for all debt (private + government) called America's Total Debt:
1. Federal Government Debt Report - at $5.8 trillion, or $21,000 per man, woman and child.
51% of all federal debt was created in the 1990s, despite record tax increases in the 1990s bringing the highest tax intake in peace-time history (as a share of the economy). In the 1990s the federal government created $2.87 trillion of new debt; more than created in the nation's entire history prior to 1990.
The Dept. of Debt reported federal debt as of end fiscal year 2001 was $5.8 Trillion ($5,807,463,412,200.06), $133 billion above the close of Fiscal Year 2000 (09/29/2000) of $5.674 Trillion - a new fiscal year record high.- - which compares to $5.656 Trillion at end FY-1999 and to $5.526 Trillion at end of FY-1998 - -that's a debt increase of $281 billion during that period, or another $4,087 for a family of 4. (While saying they were paying down some debt they did not mention debts to trust funds were increasing even more).
Interest on the debt is $40 million per hour, 24 hours per day, 365 days per year. Long-term pictures. Foreign interests own increasing share of our marketable Treasury debt. Pictures tell the story. A MUST READ.
2. America's Total Debt Report - this report covers the most dangerous picture, that of all debt in America (government debt plus all private debt, including debt of households, financial sector, and business) - now $30 Trillion and soaring faster than growth of the total economy, and 52% of that total debt was created in just the 1990s - - showing America more debt-dependent than ever. Color graphics in this report have been seen by very few, showing dramatic trends. A MUST READ.
3. Paying Down Debt? - some claim the government ran a surplus the past 2 years and paid down debt, yet total federal debt increased $148 billion in those years - - meaning they ran an operating deficit of $148 billion. So, where did they get the money? Answer: they siphoned trust fund surpluses and issued them IOUs.
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