With Bush aquiring the rights to yet another 70 billion dollars in war funds to launch yet more deathly operations in Iraq and Afghanistan, how on Earth is the USA supposed to pay off probably the biggest national debt on the face of this earth? At what point will the House simply say "no" when a President comes to them begging for more money to create bombs to drop on people?
How does the United States Government expect to pay back their enormous national debt?
As a percentage of GDP, the US national debt has been larger before. Through fiscal discipline, we were able to pay off the debt then too.
It will take a great amount of restraint on Congress's part, to limit the growth of bread and circuses they use to buy votes. However, this discipline doesn't seem likely, as the current Congress seems to be just as bad on spending as the previous Congress.
Also, realize that while our debt is large, it pales in comparison to the unfunded entitlement liabilities that will begin to hit home in the next few years. While our debt is approaching $10 trillion, our entitlement liabilities are estimated at around $50-60 trillion. (Our unfunded liabilities, meaning the difference between all of our future collections and all of our future payments. Same as debt in my book)
Some say that these entitlements aren't the same as debt because the government doesn't have to pay them. Maybe, but have you ever seen the outcry when a politician proposes cuts on entitlement benefits. Can someone sit there with a straight face and tell me that any politician is going to sacrifice their political career to make the necessary cuts? Right......
Reply:they aren't worried about because it is not coming out of their pockets or hide. in fact I wouldn't be surprised if they are deliberatly doing this to bankrupt the usa to the point that everyone loses what little property rights they have, and end up in slave labor camps or some work areas or relocated to non productive land to live and work for meager wages while the cost of living skyrockets.
reminds me of the time in pharoahs time when there was long standing drought and they had to sell their animals, portable assets, etc and then their land for food stuffs from the pharaoah till there was no money or property left to buy except their souls (slavery). a debt that never gets paid off. so they had to sell their souls for grain.
RRRR
Reply:There is no way it can ever be payed back. You dont include the social security and medicare debt. It is closer to 56 trillion than the 9 trillion everyone talks about.
Reply:the world bank holds a lean on all Americans asset's so if your great government cant pay you lose everything
Reply:We cant, China is just going to reposess us and we are all going to have to learn to speak chinese. ah'so,ching chong chang!
Reply:Soon they'll have the people tax. If you're a person you will have to pay an enormous tax just to be alive! Then they'll have a surtax on that tax and it goes on off into infinity just like their spending plan! You can thank all of the republicans for this misery and anguish! Remember this when the election comes around!
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