The Great Debt
Government and private debt piled so high it defies comprehension. How high will it go? That's impossible to say. We are living on borrowed time - - time generously donated by foreigners who for some unfathomable reason are willing to continue purchasing our worthless IOUs.
Just how bad is it? As of July 7, 2005 the public debt as reported by the government is $7,838,410,800,630.51. This does not include private debts such as mortgages, home equity loans, car loans, "personal" loans, credit card accounts, layaway plans or any other type of personal debt. Nor does this number include corporate debt, or even your state or local government debts, it is purely a measure of how much debt the federal government alone has taken on.