$13.8 Trillion debt / Borrowing $.41 on every dollar spent . Where is America heading ? (death, how much)
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No doubt we as a nation are in for some very very rough waters ahead. What will happen if this grim situation gets worse and how much more can the U.S. endure ?
What it means is that we are headed to some real suts in spending .whether today or even mroe tomaorrow. Then it is good for jobs when it will alos take raisng revenues which sucks jobs out fo teh privte sector also.Its really no different than what a family has to do to pay offf credit card debt and it will mean years of less coming from federal governamnt plus less disposable income for private sector.But ti can be done and will soner or later and later means more pain overall.
Greed can never govern itself. It has to be starved out with a slow painful death.
I'm not sure there is anything we can do other than letting it take it's course.
And it isn't just the USA, the whole world is in a financial crisis.
Greed can never govern itself. It has to be starved out with a slow painful death.
I'm not sure there is anything we can do other than letting it take it's course.
And it isn't just the USA, the whole world is in a financial crisis.
It certainly appears that way considering Britain, Ireland, Greece, etc...
What happens if we tick China off somehow and they demand FULL repayment of all loans made to the U.S. ?
well i thought our debt came from bonds meaning that they're paid back on a set date or w/e? also meaning that, as long as other countries keep purchasing our bonds, out debt will coninually increase as the economy does. idk though maybe i'm just misremembering my eco class =p
We deserve it, who votes these clowns in? What we need is to gut Washington & the federal gov't but it wont happen because so many are very happy with todays upside down economics and its handouts.
As far as China calling in our debt I guess we'd just have to not pay, just as was done to us many times over in the past.
well i thought our debt came from bonds meaning that they're paid back on a set date or w/e? also meaning that, as long as other countries keep purchasing our bonds, out debt will coninually increase as the economy does. idk though maybe i'm just misremembering my eco class =p
Yes, that's true. But things can change very quickly. Those foreigners who've been buying US bonds can change their minds at any time. In fact, this is what happened in Greece & Ireland. One minute, people are willing to buy their bonds. A few months later, they're not. When you have high levels of debt, the interest rates you have to pay on your bonds don't have to spike all that much before you're insolvent.
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