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A Guide To One Of The Most Sensational Claims Time Magazine Has Ever made

TedTed
edited April 2016 in Off-Topic
FYI:The cover of Time magazine's next issue claims that every American owes $42,998.12 as his or her share of the national debt. The article also states that current levels of U.S. debt are "unmanageable" and that investors and the public should not place their confidence in the government's ability to pay its debts.
Regards,
Ted
https://www.washingtonpost.com/news/wonk/wp/2016/04/16/a-guide-to-one-of-the-most-sensational-claims-time-magazine-has-ever-made/

Jim Grant's Bio:
http://www.grantspub.com/about/jim.cfm

Comments

  • MarkMark
    edited April 2016
    If I send in my check today will the government stop bugging me to fill out tax forms every year for the rest of my life? Might be worth it.

    And no, I'm not buying it. The authors reputation and background speak for themselves. There is a little truth in the soup of what he says along with a whole lot of hype.
  • davidrmorandavidrmoran
    lots of smart and detailed debunking of this nonsense; shocking Time ran it
  • Old_JoeOld_Joe
    Shocking not so much... mildly disappointing maybe.
  • PRESSmUPPRESSmUP
    Click-bait in hard copy.
  • hank
    edited April 2016
    Given - Grant's a cartoonish character.

    But only 43K? Peanuts. You can hardly find a decent new pickup truck for that amount.
    And Wikipedia puts the price of a single Tomahawk Cruise Missle at 1.6 mil.
  • Old_JoeOld_Joe
    "Wikipedia puts the price of a single Tomahawk Cruise Missle at 1.6 mil."

    Hell, I got mine at Amazon for a lot less than that, and free delivery too!
  • hank
    @Old Joe,

    Yes, I forgot. Bezos is into everything. Does yours land vertically?
  • Old_JoeOld_Joe
    @Hank- Yes, when Amazon delivered it it landed vertically smack in the middle of the garage. Fortunately there was some sort of defect and it didn't explode properly. I'm trying to figure out how to return it right now, but UPS wants no part of this.
  • catch22catch22
    edited April 2016
    Didn't see the "debt clock" linked..........probably missed it........any hoo.

    I double dog dare you...............stare at the moving numbers for 1 minute.

    http://www.usdebtclock.org/

    @Old_Joe sent my "cruz" missle packing and appears so did N.Y.
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