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Wednesday, July 29, 2015

July 29, 1981: UK Wedding of Century & US still under $1T in debt

Today is July 29th.. an interesting day in history..

On this day in 1862 Confederate troops fought with the Union at the 2nd Battle of Manassas (2nd Bull Run) which ultimately the following day the South would win, inflicting 10,000+ kills upon the enemy vs only 1,500 Southern dead...

The 1948 Summer Olympic games open in London after a 12 year hiatus thanks to WWII and in 1959, Hawaii is admitted as a US State

But what most interests me, is on this date back in 1981, 700+ million people around the world watched the wedding between Prince Charles and Lady Diana Spencer at St. Paul's Cathedral in London.

I was too young at the time to pay it any mind but I know some people can remember every vivid detail of the experience and participated albeit from afar in the joy of the occasion.

Thirty-Four years ago..

Another interesting thing happened on July 29, 1981....  The United States' National Debt was Still under $1 Trillion.
We would not cross that threshold until October 22nd of that year..

Think about that a moment:   By 2007 the Debt exceeded $9 Trillion and as of this moment, it stands at $18.3 Trillion,

We went from our nation's founding in 1791 until 1981 and in 190 years of expansion and growth, never saw our debt at $1T.. well until Oct 22, 1981 that is,,,

And in a span of eight years, most of it under Obama, we have Doubled it from $9T to $18.3T
And the number is so big and so vastly growing that it just holds no meaning

The human mind was not meant to picture that many dollars even with all the analogies of "If you stacked $1 bills in the sky..", etc..

www.usdebtclock.org is a fascinating web site.. All of you should click the link and check it out sometime.. So much information in real time..

For instance as of this writing, there are 321,352,184 people living in the US - that is our current population.

The next chart on the page mentions how many are currently in the US workforce -- 148,937,484  people
Now I'm not a math whiz but how can unemployment be around 5-6% if only 46-47% of the population is in the workforce for one reason or another?

The website also shows as of this writing, 159,832,989 people are receiving some kind of financial government benefit whether it be Social Security, Medicare, Medicaid, Food Stamps, Welfare...

That's 49.5% of the US population

The website not only shows what National Debt is but also US personal debt..  Things like mortgages, student loans, credit cards, etc
The total Americans owe banks and other lending institutions as of this writing is $16.9 Trillion which adds to about $53k per citizen

Now most of that is mortgages but $1.3 Trillion and counting is student loans..

Everyone was told back in 2008 to either go back to school or stay the course and get their degree..

Well how are things working out for you?
Life was better in 1981..  Things in the past usually are.

In Britain and around the world people were celebrating a Fairy Tale marriage while here in the US, you could turn the TV on to CBS every Friday at 9p and see the Beautiful Confederate flag adorn the 'General Lee' on the 'Dukes of Hazzard'

Or turn on NBC's Saturday Night Live and watch a young Eddie Murphy expose a new generation of innocent unsuspecting white youth to the word 'Nigger' without any responsible context to its meaning

People may not have had cell phones, laptops and all the electronic gizmos of today back in 1981 but they did have jobs..  Good paying jobs
They also did something very kooky-crazy back then..

People would talk to each other face to face and look in their eyes while communicating thoughts..

I know, its wild, right?

And whatever problems Americans and the nation on the whole had, it did not have a serious debt problem..
Feel free to blame President Reagan for the first $1-2 Trillion but the man left office in 1989 and life was really good back then..

Along with our status in the world.

Some people just can't wait for the future; assume its always to be better,,

Sorry but I'm just not one of them.