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Oct 22, 2010

What we owe

     I was at Auburn High School the other day listening to Alabama Republican Nominee for Governor Robert Bentley when he asked the kids if they realized how much money they personally owed based on the national debt.
     $45,000 each, he told them...a figure that I have heard before and one that I presume to be correct.
     It got me thinking. If it's fair to use that as a kind of shock to convince people we're in deep deep trouble, then how about the other side of the coin?
     How much do each of us own based of the value of everything owed by the Federal and State and City Governments. Wow. Is there such a figure available? I went searching online. Without luck.
     But just consider for a moment the value of just the Federal Park System. Or of Interstate 10, Or of all the Federal buildings (like the White House or your local Federal Courthouse). Or all of the trucks and beds and nuclear weapons in the military. And the Golden Gate Bridge. And the original copies of the Declaration of Independence and the U.S. Constitution. And all of the books and possessions in the various Federal Libraries. And the footprints and flag left on the Moon by U.S. Astronauts.
     Certainly the value is in the many trillions, or maybe in the septillions (24 zeros at the end)  And perhaps that eases the alarmist $45,000 figure a little?
    If you are going to saddle people with a big debt to make a point, then reward them with the worth on the other side of the coin.
     I don't care even a little that I owe one million dollars... if I am a billionaire.

2 comments:

  1. Thanks, Tim.

    That old man is trying scare tactics with the kids. Actually, they do NOT owe $45,000 each. Is the Federal government sending them each a bill?

    I hope that the high school kids refuted this deception.

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