US Debt Clock Running Out Of Digit

I am telling you. We need to become a “Cash Society”, buying only what we can afford, only what we need versus what we want. Same for our government borrowing like crazy from the remaining foreign countries still trusting us on our ability to pay them back.  The National Debt Clock in New York City has run out of digits to record the growing figure. As a short-term fix (like our bail out/rescue package to financial institutions), the digital dollar sign on the billboard-style clock near Times Square has been switched to the number “1” like in $10 trillions. Current federal government’s debt is at about $10.2 trillion. The debt clock was installed in Times Square in1989 by real estate developer Seymour Durst to call the attention to what was then a 2.7 trillion debt! Count with me…

13 Responses to “US Debt Clock Running Out Of Digit”

  1. 1 AnARchY MoCo Oct 11th, 2008 at 11:28 am

    Cyril, I am pleased to see you using your mass media platform to draw attention to the mounting debt crisis in our country. Unfortunately the only fix is to get the crooks out of Washington. And we all know that’s never going to happen. Absolute power is absolute corruption. I am also sad, not to see more of your audience commenting on this post. That is also part of the problem, everyone just wants to look the other direction when things are going their way. It’s a “well it’s not in my back yard ” mentality. Once the 1% at the top suck all the fat out of the system, what’s left for the little guy. Nothing but starvation!

  2. 2 Knucklehead Oct 11th, 2008 at 5:50 pm

    Oh I care I vote, I blog, I talk a lot. You are right about the crooks. It does not matter right or left they are crooks. It will not change until we get rid of the electorial college and the lobbiest. And by the way I went to your web site and my software says you have a lot of add-ons.

  3. 3 Carl Oct 11th, 2008 at 6:04 pm

    I am pretty sure, knowing Cyril, that he has a lot to say about the financial and political situation. Go ahead. Even it has nothing to do with custom motorcycles.

  4. 4 Sheridan Oct 11th, 2008 at 6:55 pm

    This situation has a lot to do with motorcycles, well the health of the industry at least. It seems that the massive Chopper boom of the last 5-6 years was fueled by sub-prime lending through a vast array of motorcycle dealerships, with thousands of people buying $30K+ factory customs (like AIH, Big Dog etc) with credit when they couldn’t really afford it. Now that the US economy is teatering on the edge of depression and people are loosing their jobs by the hundreds of thousands each month, and millions are loosing their homes each year, buying and holding onto an over priced part of a media fueled ‘fad’ type motorcycle would not be a high priority for the average owner/buyer at a time like this.

    I watch the number of second hand Choppers on Ebay growing rapidly and at the same time the prices for them decreasing just as rapidly. Custom shops seem to be closing their doors almost as fast as Wall St Banks, so there are very tough time for the industry, the USA, and the world as a whole.

    Those who are in this industry for the love of it, the long respected names who’ve been around for decades and have not been tempted to go down the path of offering production bikes, those who have worked hard without expecting a quick buck, those who have stuck true to their principals rather than chasing media attention will be the ones who survive.

    While I’m sitting here in my home of Australia, I know that America is a great country full of amazing wonderful and talented people, with a proud history who have faced huge adversity in the past and overcome it, and I believe that when the times call for it (like now) the nation will pull together and be the best it can be to see it through times like these. Good luck to you all.

  5. 5 MJ Oct 12th, 2008 at 7:32 am

    The more we as individuals can become a cash society, the better. My parents had a credit card for two reasons – it was convenient when they traveled to avoid having cash with them, and it was there in case of an emergency. Unfortunately, a lot of the younger generation will have to learn how to tough it out through tough times. I learned from my parents because they both went through the great depression and did not fail to teach that lesson to their children…

  6. 6 Wayne Oct 12th, 2008 at 10:10 am

    Better idea, Biblical, too
    I have a better idea! Biblically, there should be a Jubilee every 50 years. All debt is forgiven. Let’s set a date. House mortgage, car payments, credit cards and so on, cancelled. No debts, no problems, no fouls. No bailout needed.

    The day after 50-year Jubilee, everyone starts over with all past debts forgiven. Makes sense to me.

  7. 7 Storm Oct 12th, 2008 at 10:14 am

    Uh Sheridan ,
    I suppose we all should buy and ride only JAP bikes ! I hear this a lot wheather on my chopper or my Harley soft tail.

  8. 8 Harry Oct 12th, 2008 at 3:33 pm

    I agree w/ you Cyril; our society has the “keeping up with the Jones'”mentality and it is bullshit. I only own a 05′ Sportster that is stock (and I am sure that people will bust my balls for owning a “bike for bitches”), but I own it outright. I take pride in that. All I have is a car payment and a few grand on a credit card bill and that is it. I know to invest for when I get older so I don’t have to kill myself working till I go to the grave and to keep a little back for emergencies. I don’t buy expensive SUV’s or Luxury cars, I get what is adequate for my family (a Toyota Minivan; I have a family w/ kids), I don’ t need to have a flat screen plasma TV in the shitter. We as a country just need to get our shit together. Yes, the gov’t has to carry their share in the blame for the mess that we are in, but we need to live within our means and do the right thing and practice some fiscal responbility, that all their is to it. If you can’t afford it don’t fucking get it, simple as that!!!

  9. 9 madpuppy Oct 12th, 2008 at 10:33 pm

    AnARchY MoCo and Knucklehead , good posts and I agree with both of you. In my humble opinion, instead of baling out the the greedy bankers and loan institutions, I think our Federal Government should give every family that makes under $85,000 a year, two hundred fifty thousand dollars ! That would really give the economy a boost, and keep people in their homes, pay off their debt and have some left to invest ! Why in hell would we give more money to people who have already been given money, and proven They cant handle it ! Let those that went broke go out and get a new job, and sell their loser companies to someone that can make money

  10. 10 Knucklehead Oct 13th, 2008 at 11:28 am

    Harry when you hear bike for bitches you sir are hearing a yuppie or just a for real non-biker. Arlens first chops I believe where sportsters. And look out there now at what the new generation is doing with them. Awesome bikes they are. Sportsters are not bitch bikes.

  11. 11 Dave B. Oct 13th, 2008 at 11:22 pm

    Here’s an idea… instead of a bail out, let the large Wall Street firms that have lost money simply go bankrupt. The surviving companies with money (AND THERE ARE LOTS OF THEM) will buy up the worthwhile assets at a bargain and life goes on after a short correctional period. It recent years it was done in the airline industry and countless other examples in the past.
    Make no mistake, what we are witnessing are POLITICAL moves, not just FINANCIAL ones… do you really want the U.S. government to own or control America’s financial lending institutions? Remember, the government has been known to pay $350 for a hammer, or $1500 for toilets. Wall Street is no place for an average American as an investor anyway, you’d be better off in Vegas, with top financial advisors making statements like “We’re pumping the market with funds hoping a lot of dumb money will follow,” it doesn’t seem to me they have our best interest at heart. This thing stinks!
    I for one would prefer to see the Dow around 7,000… it cannot withstand (now obvious to everyone) a 10,000 or above number. This has been brewing for years, millions of people with an idiot’s guide to internet trading, and investing in nothing tangible, employees left by employers to make uneducated decisions about their 401K, and so on. A lot of Americans have been reckless with their debt-to-income ratio in recent years, and that is largely the fault of lending institutions allowing loans that were just too much for the lendee to pay. With proper oversight from lenders this could have been avoided, so I think the lenders at fault should be allowed to go bankrupt, not bailed out. If they are so bad at recognizing the ability of a lendee to pay back a loan, they will soon be back in Washington looking for another handout.

  12. 12 Dave B. Oct 13th, 2008 at 11:26 pm

    Sorry for ranting. I agree with Cyril, don’t buy what you can’t afford… and be smart about what you can afford!

  13. 13 free advertising Oct 15th, 2008 at 1:00 am

    We all need to get back to our true AMERICAN roots and start over. Why can’t we have someone with common sense like this as President.



    (1) “Press 1 for English” is immediately banned. English is the official language; speak it or wait at the border until you can.

    (2) We will immediately go into a two year isolationist posture to straighten out the country’s attitude. NO imports, no exports.
    We will use the ‘Wal-Mart’s policy, ‘If we ain’t got it, you don’t need it.’

    (3) When imports are allowed, there will be a 100% import tax on it.

    (4) All retired military personnel will be required to man one of our many observation towers on the southern border. (six month tour) They will be under strict orders not to fire on SOUTHBOUND aliens.

    (5) Social security will immediately return to its original state. If you didn’t put nuttin in, you ain’t gettin nuttin out. The president nor any other politician will not be able to touch it.

    (6) Welfare – Checks will be handed out on Fridays at the end of the 40 hour school week and the successful completion of urinalysis and a passing grade.

    (7) Professional Athletes –Steroids – The FIRST time you check positive you’re banned for life.

    (8) Crime – We will adopt the Turkish method, the first time you steal, you lose your right hand. There is no more life sentences. If convicted, you will be put to death by the same method you chose for your victim; gun, knife, strangulation, etc.

    (9) One export will be allowed; Wheat, The world needs to eat. A bushel of wh eat will be the exact price of a barrel of oil.

    (10) All foreign aid using American taxpayer money will immediately cease, and the saved money will pay off the nationa l debt and ultimately lower taxes. When disasters occur around the world, we’ll ask the American people if they want to donate to a disaster fund, and each citizen can make the decision whether it’s a worthy cause.

    (11) The Pledge of Allegiance will be said every day at school and every day in Congress.

    (12) The National Anthem will be played at all appropriate ceremonies, sporting events, outings, etc.

    Sorry if I stepped on anyone’s toes but a vote for me will get you better than what you have, and better than what you’re gonna get. Thanks for listening, and remember to write in my name on the ballot in November.
    God Bless America !!!!!!!!!!!

    Bill Cosby!!!!!!!!

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