So I was in the bank today making a deposit, like I do several times a week and the little Federal Deposit Insurance Corporation sticker caught my eye.

We have all seen this sticker hundreds of times; it is a reminder that as long as we have no more than $250,000 in an account at a particular bank, all is cool, if something should happen our well meaning government will simply print us some new money. Most of us do not have $250 sittingin the bank, so it is not much of a worry.

An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s.

The FDIC’s mission is to protect depositors in the event of a bank failure, and maintain citizens’ confidence in the banking system. When a bank fails, FDIC steps in and first attempts to get another bank to take over, for example when JP Morgan took over Washington Mutual. Otherwise, the FDIC cuts checks to depositors in a matter of days.

But here is that part that made me a bit nervous… Look at the print on the left side of the sticker. it says, “Backed by the full faith and credit of the United States government”. Now, last I heard our national debt was around 14.3 Trillion dollars.  That amounts to about $46k per citizen for all you math buffs out there.  So, what I want to know is, What is the full faith and Credit of the US government worth? …Just a thought…