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Who Owns America?

Posted on February 12 2010 8:11 pm
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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There’s an old adage, “He who owns the gold, makes the rules.”

Since the TARP bailout, Stimulus and the 2010 budget, the U.S. national debt has soared to almost $12.4 Trillion under President Obama and Congressional Democrats. A debt so high every taxpayer is liable for more than $113,000. Note I said taxpayer because, although the debt per citizen breaks out to a little over $40,000, only taxpayers bear the actual burden of repayment. And how do we repay it? More taxes.

$12.4 Trillion in debt is extraordinary, but things aren’t always as they seem. Sometimes they’re actually worse. Today President Obama quietly signed legislation increasing the public debt limit an additional $1.9 Trillion. If the government is to continue expanding at the excessive rate it has the past year, Obama and Democrats must continue spending like there’s no tomorrow. Not only does someone have to be responsible for repayment of the debt but, more importantly, someone has to lend the U.S. the money to spend.

Have you given thought to exactly who owns America?

Take a surprising look.

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