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69 Comments
- devin_mm, on 12/14/2007, -1/+67It's both funny and over 5 years old so it's perfect for digg.
- hackntossh, on 08/27/2008, -0/+40Hope we got a fixed rate, cause those sub-prime loans are a bitch.
- rukkyg, on 12/14/2007, -4/+30Should have consolidated a few years ago when rates were low.
- Nex6, on 12/14/2007, -12/+37the onion
- pjpete, on 12/14/2007, -0/+16I nearly shat myself when I read the summary. Then I noticed, 'The Onion' and let out a sigh of relief. It's sad that I really believe this administration has their head so far their own asses that I wouldn't put something like this past them. Thanks for the mild heart attack OP! LMAO!
- lnxfi, on 12/14/2007, -2/+16I wonder what the government's credit score is? Negative eleventy billion?
- ZombyWoof78, on 12/14/2007, -0/+12Old but still funny.
- weeeezzll, on 12/14/2007, -0/+11Sell it to Russia as a potential oil source...bargain basement price of 10 Triiiilion dollars.
Pay off the national debt, and have some extra money to party with!!! - fodder650, on 12/14/2007, -0/+11Ah the gold ole days of ought 2. Back when we only had a 6 trillian dollar debt. Instead of the nine trillion we have now.
Im not sure if i want to dig this down or not. Five years old but still funny - bahamutxd, on 12/14/2007, -1/+10Unfortunately, we owe a large portion of it to ourselves.
- beck001, on 12/14/2007, -0/+9That is awesome, do you think E-Z Loan would give a loan to the Legislative branch on next years 'income tax' tax? They could use the money to buy a big Screen TV for the Assembly rooms. That way they will be so engrossed in America's top model and Survivor and Idol they won't have time to ***** my country up anymore.
- Theisos, on 12/14/2007, -2/+11What about selling Alaska? Sell it to Canada...or maybe Russia would want to buy it back.
- gnomeh, on 12/14/2007, -6/+13Can't we just blow up every country we owe money to instead?
- MadStratter, on 12/14/2007, -0/+7Digg should open up an "Anal retentive" section for people like you.
- Timetheos, on 12/14/2007, -0/+6"endangers the numerous national assets offered as collateral"
That's the goal. Sell of our infrastructure to the wealthy so we can give them even more capital and fees. - weeeezzll, on 12/14/2007, -0/+6Oh, well then, we should just forgive that debt...lol
- Shawn4168, on 12/14/2007, -4/+9YOUR FACE
- ohcoaster, on 12/14/2007, -0/+5if only it was that e.z.
- igyigyigy, on 12/14/2007, -0/+4The story:
July 31, 2002 | Issue 38•27 - kb9vgr, on 12/14/2007, -0/+4sources please?
thank you - DASH, on 12/14/2007, -4/+8This was from 2002...
- Idontknowshit, on 12/14/2007, -2/+5Our Government has no intentions of paying anybody their money back. Get it like the Red Cross...in blood!
- rcook18, on 12/14/2007, -0/+3Sadly, you are right.
- seacaspian, on 12/14/2007, -7/+9This is pretty hilarious, but seriously folks, our nation is in debt up to it's collective eyeballs and unfortunately the whole system is rigged so that there will never be an end to it. This debt-slavery is a serious matter indeed, and it will be just a matter of time when we all truly realize that our asses are owned. Just look up fractional reserve banking and / or central banking to find out the horror story behind all this. If you don't get pissed off about it after finding out the true story of our so-called national debt, then perhaps you don't have a pulse.
- cramd, on 12/14/2007, -0/+2sure, but you can still get LOTS of credit when you print the money. I have been thinking about taking the same approach. humm.. printing money, why has nobody thought of that?
- Timetheos, on 12/14/2007, -0/+2You need to start educating yourself. This scenario has played out again and again in South/Central America. The IMF and World Bank usually demand the selling off of national assets before they will assist. Once their sold off, the owner increase fees to make a profit. Since it's difficult to have competition for things like water and roads, the market cannot keep prices in check.
- Chirp08, on 12/14/2007, -0/+2Russia already owns Alaska, its pretty close to the north pole, so its theirs ;)
- Spudster, on 12/17/2007, -0/+2I didn't realize this was The Onion until about halfway through the article! I'm not sure whether that is a testament to my idiocy or the ridiculousness of the Bush presidency.
- Motodog, on 12/14/2007, -0/+2Ohhh Onion, you almost had me there!!
- CeeAyy, on 12/18/2007, -0/+2That's because it's NOT money that the US owes to itself.
- tHePeOPle, on 12/14/2007, -1/+3OH, BURN!
- tagnarth, on 12/14/2007, -0/+2We had a good plan going before the Republicans took over again. Our country for the first time in decades was on the road to fiscal responsibility and no debt. But of course the spendies came in and messed it all up. I would love to see what our current debt would look like if we had not been lead into a war in iraq and we hadn't screwed over the middle class and saved money for the rich. Leave the Afgahn war in there, at least that one had a solid reason behind it.
- rcook18, on 12/18/2007, -0/+1You are also wrong on the "sold to make the rich richer". This administration is run like a private club whose guiding philosophy is "steal what you can get".
- inactive, on 12/14/2007, -4/+5Proof positive that most Diggers will comment about something they no nothing about as long as its about bashing the USA.
- Tuscanspeed, on 12/14/2007, -0/+1So let's see, you have a private institution giving out money whenever they're asked (creating debt) instead of having to go to the people (congress) for authorization, and when there is no money, you're sol instead of burrowing futher into debt, and somehow you think the federal reserve has nothing to do with this.
Again, you seem to be missing something. - codesuidae, on 12/20/2007, -0/+1if you keep ignoring them and they don't sue you for the debt and then garnish your earnings, after about 4 years after the debt goes into collection status the statute of limitations runs out (depending on locality) and they can't sue you for it any more. A few years later and it will age off your credit report. You still owe the debt, but it can't be reported and they can't sue you for it (well, they can sue, but you can have it thrown out trivially).
If you pay the reduced amount it'll go back on your credit record and reset the 7 year clock on that item. If the debt is not large, or it's owned by the real bottom-feeder collection agencies that doesnt' like to work (sue) for it's money, relying instead on threats and debtor ignorance, you may be better off just ignoring them.
Remember, once it's been charged off to a collection agency, the original creditor doesn't (generally) get any of the money you pay, the money you pay goes to the collection agency, who usually buys the debt for something on the order of 1/10th the debt amount.
Debt collection is a lawyer-infested minefield full of revolting lawyer-collectors who use strong-arm tactics to make their investments pay. Don't feed them if you can avoid it. - PhireN, on 12/15/2007, -0/+1Damm you theonion, I got all the way up to "E-Z Debt Services of Baltimore" before I checked which site I was on.
It just seams so plausible. - widgetmaker, on 12/14/2007, -0/+1The IMF/world bank does not go round demanding nations sell of assets to make the rich richer, the try to get inefficient national enterprises into private hands to be run more efficiency. Secondly some markets that you mentioned can be supplied by the market to lower prices (look at the liberalisation of utilities in the UK)IMF/World bank does not demand things like roads be privatised (feel free to link me to a reliable source to prove me wrong)
LAstly my comment was directed more at the it's sold to make the rich richer aspect, not the fact that if you default on loans then well that is why we have collateral.
The - JoeVet, on 12/14/2007, -0/+1Now don't talk specifics....they don't like that!
- inactive, on 12/14/2007, -0/+1Yeah, I'm missing the part where the Federal Reserve becomes responsible for our massive defense budget and medicare and social security liabilities, etc.
- Chirp08, on 12/14/2007, -0/+1So if we only make the minimum monthly payment, we can easily afford another war!
- shy1980, on 08/05/2009, -0/+0Wow that really a big amount of national debt
http://www.mydebtconsolidationloans.info/ - dalexandruz, on 12/14/2007, -2/+2just to get the idea
8.1 trillion total debt as of may 2007
u.s federal government owns 52% of the debt $4.4 trillion
local u.s governments $467 billion
individual investors, including brokers $423 billion
public and private pension funds 319 billion
mutual funds $243 billion
holders of US savings bonds $206 billion
insurance companies $166 billion
banks and credit unions $117 billion
Foreigners
Japan owns $644 billion of u.s debt
China $350 billion
United Kingdom $239 billion oil
exporting countries $100 billion - iviasterlambo, on 12/14/2007, -1/+1right here *****
- Dquist, on 12/16/2007, -0/+0The only funny part is that President Bush saw the ad for debt consolidation while watching a M*A*S*H rerun at 3 a.m. The target audience for that sort of thing is clearly a bunch of foolish zombies. ...the rest is just sad.
- sx66gns, on 12/14/2007, -1/+1good post , dugg for telling it.
- dalexandruz, on 12/14/2007, -0/+0no one forced those countries to buy the u.s treasury bonds(debt). almost every nation has debt with some other nation.
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