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President Obama's Debt, Measured in Gold

stay_focused Wrote: Nov 06, 2012 12:51 PM
You can thank the Republican party for the financial meltdown in 2008. George W Bush policies resulted in millions of Americans being without healthcare, home foreclosures skyrocketing, is epidemic bankruptcy and headlines that blared "Nightmare on Wall Street" as the country faces the worst economic crisis since the 1930s. The people who were supposed to own a vital stake in America's future by now are lucky if they still own the shirts on their backs. The ownership society - built on the shoddy foundation of corporate deregulation, unchecked lending, massive deficits and tax cuts during a time of war - has failed.

How much gold would the U.S. Treasury have to pay out from the nation's bullion depository at Fort Knox to fully pay off the national debt of $16.222 trillion (as of 1 November 2012)?

Quick side note: That figure is some $5.595 trillion higher than the $10.627 trillion it was back on 20 January 2009, when Barack Obama was sworn into office.

To answer the question, we've updated our tool for converting cash into an equivalent value in gold! Now, in addition to figuring out how big a solid gold cube would have...

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