“I’m No Lady; I’m a Member of Congress.”
attributed to Jeannette Rankin, the first woman elected to Congress
WHERE DID IT ALL GO?
The commonly accepted definition of "national debt", is the amount of money owed by the federal government of the United States to holders of U.S. debt instruments. This is not to be confused with the Deficit, which is a horse of an entirely different color.
The National Debt includes debt held by states, corporations, individuals OF ANY NATIONALITY, and foreign governments, as well as our own home grown American citizens. It does NOT include the debt held in the Social Security Trust Fund.
The Times Square National Debt Clock has been reporting the level of federal debt since 1989. This obligation stands at $11,342,734,351,973.14 as of June 18, 2009.
As a point of interest, the Nineteenth Amendment, which prohibits each of the states and the federal government from denying any citizen the right to vote because of that citizen's sex, was ratified on August 18, 1920. At that time our national debt stood at $24.3 billion. There was one woman in Congress.
Today, with 91 women in Congress, our national debt has increased to well over $11 trillion.
Does this tell you anything?
Thursday, July 2, 2009
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