U.S. government debt soars

[bmrigs]

I'm hearing what could be done but not a reasonable approach as to how to do it. Not that I have any answers.

To do the things you're talking it would take bringing together and harnessing the power of the majority of Americans to eliminate a government agency or really address the illegal alien issue.

Your right ssdsco. It would take uniting the Americans for a just cause but everybody today is in a me first selfish mode and what can govt do for me attitude. They dont want to rock the boat if it may cause them adversity or a little sacrifice. Back to the ballgame on tv.....

[JRScott]

bmrigs I do agree the Federal Reserve is corrupt. The problem is if we default on the loan our money becomes even more worthless with the danger that other nations will pull out their investment monies in the US which right now we need until we can stabilize things.


ssdsco yes what needs to be done will not be easy and a majority of Americans need to demand it. Sadly as rigs says most Americans are caught in the What can I get from the government today mode. However in about 20 years if not before then the entire system is going to collapse. Most economist agree that between 20-40 years from now our current government programs are unsustainable.

[bmrigs]

bmrigs I do agree the Federal Reserve is corrupt. The problem is if we default on the loan our money becomes even more worthless with the danger that other nations will pull out their investment monies in the US which right now we need until we can stabilize things.


ssdsco yes what needs to be done will not be easy and a majority of Americans need to demand it. Sadly as rigs says most Americans are caught in the What can I get from the government today mode. However in about 20 years if not before then the entire system is going to collapse. Most economist agree that between 20-40 years from now our current government programs are unsustainable.

You are right Scott. The credit rating of the country is already going down. We do rely on other nations like China to buy up our debt so just defaulting on it would create alot of tension to these countries. Damn! Its just frustrating thinking about how the hell we are going to get out of this mess with the least repercussions from the banksters or other countries.

[JRScott]

I know bmrigs its a house of cards and we have to be careful which cards we pull out when .

[bmrigs]

I know bmrigs its a house of cards and we have to be careful which cards we pull out when .

WTSHTF

[JRScott]

WTSHTF

Huh?

[bmrigs]

Huh?

it stands for When The Sh** Hits The Fan

[Frogge]

it stands for When The Sh** Hits The Fan

LOLOLOL

[BigJohn]

HRx said "It means almost $30,000 in debt for each man, woman, child and infant in the United States." That figure I believe is closer to $54,000 now. And that figure is only for National debt. It does not include State, County, Corporate, and personal debts. The amount the federal government owes is more then all debtor nations owe combined. There are some nations, with China taking the lead, that are not in the red but in the black. So what happened?

[JRScott]

What happened.

Do you want the short form or the long form?

The short form is Americans started to depend more on the government to do things for them than doing it for themselves. As a result the federal government has ballooned over the last 100 years. Because of this they spent more money, the people demanded more so they spent even more money. In order to make it seem not so bad they started taking from the Social Security trust fund to cover other shortages with the promise, we'll pay it back some day. This alone accounts for 2.2 trillion of the intra governmental debt, which I do not believe can be made up and might as well be written off the books. Even if we got it back we cannot get back the lost compounded interest that would have enabled the program to pay the baby boomers as they retire in the next 10 - 15 years. We don't have the money. Congress became so focused on getting reelected by the popular vote as per the 17th amendment, that they started focusing only on the short term. They did many things that looked good short term because they could get reelected, long term they were horrible ideas and congress knew it then. The problem is we are almost to that long term time. Within the next 20 years if nothing changes our country, our people and our land will be bankrupt, we'll no longer be free but subject to foreign powers in other lands. That's it in a nutshell.

[bmrigs]

What happened.

Do you want the short form or the long form?

The short form is Americans started to depend more on the government to do things for them than doing it for themselves. As a result the federal government has ballooned over the last 100 years. Because of this they spent more money, the people demanded more so they spent even more money. In order to make it seem not so bad they started taking from the Social Security trust fund to cover other shortages with the promise, we'll pay it back some day. This alone accounts for 2.2 trillion of the intra governmental debt, which I do not believe can be made up and might as well be written off the books. Even if we got it back we cannot get back the lost compounded interest that would have enabled the program to pay the baby boomers as they retire in the next 10 - 15 years. We don't have the money. Congress became so focused on getting reelected by the popular vote as per the 17th amendment, that they started focusing only on the short term. They did many things that looked good short term because they could get reelected, long term they were horrible ideas and congress knew it then. The problem is we are almost to that long term time. Within the next 20 years if nothing changes our country, our people and our land will be bankrupt, we'll no longer be free but subject to foreign powers in other lands. That's it in a nutshell.

Short explantion is that China produces and has a manufacturing complex. The US does not since it exported its producing capability overseas. We have become mostly a consumer nation. Thats why they are in the black and we are in the red.

[ssdsco]

I have to admire you guys for knowing what's going on. Can you educate Bush, Obama, Barneke(sp ?), McCain.

[AngelinaCatHub]

Short explantion is that China produces and has a manufacturing complex. The US does not since it exported its producing capability overseas. We have become mostly a consumer nation. Thats why they are in the black and we are in the red.

[bmrigs]

I will have to look into those Hub