The Sage Observer

Debits on the Left, Credits on the Right

Any accountant or bookkeeper knows that debits are on the left and credits are on the right. On any balance sheet, debits usually denote “Assets” and “Credits” refer to liabilities in one way or another. You should think about this. Our national debt, a $20,000,000,000,000 credit on the balance sheet of the United States of America is, collectively, a debit on the balance sheets of others—someone, somewhere else, in someone’s balance sheet, in the Cayman Islands perhaps, or Ireland, or etc. The spending of our nation, constitutes the profits of others—the Corporatocracy and Power Elite of the world, the military industrial complex, the 1%, the 0.1%. You get my drift. I understand that my statement is a generality; but, essentially, the inference is true. Again, think about it. After all, in the end, it’s your debt—your obligation.

Ronald Miller

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