national debt

Itsbackfliptime

Itsbackfliptime

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why does it matter? It's basically just a number. We're borrowing money from ourselves so we own the money from ourselves. It seems like this obscene amount of money but if it was really that big a deal wouldn't we set aside some tax money to try and pay for it or at least try and keep it from growing? I'm not an economist or anything so correct me if I'm wrong.

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we don't borrow from ourselves exclusivly. and yes, we do have to pay it back. I too am not an economist, but I know that having a big national debt is bad.

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US national debt $7,420,558,335,120.18

If the country goes bankrupt,all hell will break loose.(then the nwo takes over and there will be one currency for the world)

First the banks would limit withdrawls, then they are closed(for good)unemployment everywhere,people lining up around the block for a loaf of bread,groceries stores close down,hyper-inflation ,etc . It would get ugly.

 
Kensian Economics: Debt good, Surplus bad

If you look at the Clinton administration this is a prime example of Kensian economics. Clinton finally created a surplus and in March of 2000 the market began its recession. Recession rolls over into October of 2002. Bush creates tax cuts, takes money away from Gov't gives it back to people and the economy grows. We have gained 3000 points on the DOW since October of 2002. For those of you who can't do the math that is 1500 points a year. Not bad if you ask me. Unemployment rates are at 5.4%. Clinton's average unemployment for his Presidency was 5.3%. Yes Clinton had a better unemployment rate but he FAILED to stabilize what could have been a brilliant economy. During Clinton's admin we had many upstart technology companies that were HIGHLY unstable, much of that economy was nothing more than an over-glorified myth. Many of the small businesses had a high debt-to-assets ratio. To top it of Clinton and his liberal buddies found it necessary to tax the shit out of small businesses. So of course the dot-com bubble was going to burst because the Gov't was not creating tax advantages for the small business owners (aka the people who create jobs).

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actually, its mainly foreign investors that finance any countries debt. Borrowing from yourself makes no sense. Its all good as long as the foreign investors feel that the US (or whatever country they are lending money to) is on solid economic footing and can someday repay the debt or at least pay the interest on it.

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One more thing. Oil prices are slowing economic growth right now, yet the market is still fairing relatively well in comparison to oil prices. These current oil prices will not last. They will eventually drop and it will likely light a fire under the economy's ass. We could loosen the oil supply if we went into ANWR and drilled (barren ice field with one moose living 3 miles away) but the tree huggers are against, but then they turn around and say we are to dependent on the middle east for oil. Well tree huggers either A) let us drill ANWR or B) advance corn oil and convince all the car manufacturers and oil companies to dump their current methods of production, risk losing millions of dollars and jobs, and create a highly efficient corn oil engine.

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history repeat itself, what was the driving force behind the french revolution, a huge national debt and deficit spending, its a problem and it needs to be paid off

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' We're borrowing money from ourselves so we own the money from ourselves.'

that is 100% wrong. That money is owed to multinational banks. Ofcourse they cant repo the us but they can keep adding penalties and intrest. Its a viscious circle and its already too late.

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^exactly, and flexmacman, do you know what bankruptsy is? If you do, then you should know our country cannot claim it. So your little theory of mass hysteria cannot happen.

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im scared.....we need to get outta debt

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