minkis18 Posted June 12, 2005 Share Posted June 12, 2005 well, if the US does have a vault for thier money other than fort knox then its probly filled with IOU's right now. i started to get interested in this the other day in economics class so i did a quick searc and heres what i found. the federal debt (not deficite) is currently 7.8trillion and rises about 1.6billion dollars each day. if that isnt bad enough, in order to pay it off, every american citizen would have to pay about 26 THOUSAND dollars!I dont know about you, but i barely have a spare $26 to spend right now... this year the gov't spent 208B on the interest to those that they owe money to. the top three areas of our spending our social security, dep. of defence, health and human services, and the tresury which includes the interest payments. this is not much info actually but if you wish to find more, type in your search query into your address bar or visit my sources: http://www.federalbudget.com/ http://www.brillig.com/debt_clock/ Link to comment Share on other sites More sharing options...
24SE7EN Posted June 12, 2005 Share Posted June 12, 2005 we (america) cares :roll: its kinda lame knowing your country owes money to everyone, but its been like that for a long time. and people are too busy with their lives to even think about the debt. thats just what i think :o Link to comment Share on other sites More sharing options...
____ Posted June 13, 2005 Share Posted June 13, 2005 Solution: 1. Become president 2. Declare America as bankrupt 3. ... 4. Profit Link to comment Share on other sites More sharing options...
Evil_Elf Posted June 13, 2005 Share Posted June 13, 2005 Not everyone would have to pay 26k. We could just get the rich people to pay until they're the same as the middle class, and the spillover money could go to the poor. And everyone would be equal. Link to comment Share on other sites More sharing options...
minkis18 Posted June 13, 2005 Author Share Posted June 13, 2005 that 26k is just kinda a little useless fact about it all. we will never be told to pay off the national debt like that...i hope Link to comment Share on other sites More sharing options...
Evil_Elf Posted June 13, 2005 Share Posted June 13, 2005 I'm sure many people would just say "[bleep] you" in one form or another if we ever actually are told to do that. I'm not even sure who the "they" would be to tell us that, but I'm sure it'd end badly (for them). Link to comment Share on other sites More sharing options...
____ Posted June 13, 2005 Share Posted June 13, 2005 Civil War Link to comment Share on other sites More sharing options...
limpxbizkid Posted June 13, 2005 Share Posted June 13, 2005 damn, idve thought that the latest war wouldve gven them a chance to pay a fair bit back. note: this is not a US-invading-iraq-for-oil crack, i agree with the US and what they did. i am simply outlining that in most wars/conflicts (whatever the scale) countrys like the US sell their technologies (mainly defence) to other countrys because a war is the best chance to put this technology on display. not realy sure what Australia's debt is. about 5yrs ago i heard a figure like 450Bn (doesnt seem like much for a country, but times it by 17 which is about 'US:Australia' people ratio). but recently ive heard figures around 90Bn which sounds like crap. Edit: damn typos making my sentences make no sence Edit 2: Recently though, the international debt for some 3rd world countrys has been canceled. Chances are that was a fair bit of the USs money that went down with it. Link to comment Share on other sites More sharing options...
____ Posted June 13, 2005 Share Posted June 13, 2005 limpxbizkid: AU$425 billion foreign debt. Link to comment Share on other sites More sharing options...
minkis18 Posted June 13, 2005 Author Share Posted June 13, 2005 lmoa, yea, that would be bad. give someone in north korea the gps coordinates of the white house and tell them to go ahead and test thier nuke. i think the iraqi war actually hurt us this time...ww2 was the reason we aint dirt poor simply because we were seilling what we made but now everything is either bering blown up, shot up, or just plan consumed by us. i havent seen deficite figures but its prety bad too and that just adds to the debt. the iraqi war is fine and will eventually end when all the suicidal mercenaries are used up...since they are only a one-use type of weapon. Link to comment Share on other sites More sharing options...
KnightLite Posted June 13, 2005 Share Posted June 13, 2005 lmoa, yea, that would be bad. give someone in north korea the gps coordinates of the white house and tell them to go ahead and test thier nuke. i think the iraqi war actually hurt us this time...ww2 was the reason we aint dirt poor simply because we were seilling what we made but now everything is either bering blown up, shot up, or just plan consumed by us. i havent seen deficite figures but its prety bad too and that just adds to the debt. the iraqi war is fine and will eventually end when all the suicidal mercenaries are used up...since they are only a one-use type of weapon. *BUZZER* srry wrong answer During WWII, you weren't allowed to buy very much. If your lisence plate ended in an odd number, you could only purchase gasoline on certain days of the week, and if ur lisence plate ended in an even number, you could only buy gasoline on the other days of the week. It was like this for almost every product. People kept the money because they couldn't spend it. - Only character in Runescape History maxed out in RSC and RS2 Link to comment Share on other sites More sharing options...
my_pet_worm Posted June 13, 2005 Share Posted June 13, 2005 During WWII, you weren't allowed to buy very much. If your lisence plate ended in an odd number, you could only purchase gasoline on certain days of the week, and if ur lisence plate ended in an even number, you could only buy gasoline on the other days of the week. It was like this for almost every product. People kept the money because they couldn't spend it. thats a good idea, would make people richer Link to comment Share on other sites More sharing options...
KnightLite Posted June 13, 2005 Share Posted June 13, 2005 During WWII, you weren't allowed to buy very much. If your lisence plate ended in an odd number, you could only purchase gasoline on certain days of the week, and if ur lisence plate ended in an even number, you could only buy gasoline on the other days of the week. It was like this for almost every product. People kept the money because they couldn't spend it. thats a good idea, would make people richer It was a good idea, and it did make people wealthier (remember we were just getting out of the great depression) - Only character in Runescape History maxed out in RSC and RS2 Link to comment Share on other sites More sharing options...
Eric2203 Posted June 13, 2005 Share Posted June 13, 2005 KnightLite, minkis18 was talking about after ww2, not during. And he's right, the USA helped rebuild Europe at great profit to them. Link to comment Share on other sites More sharing options...
devilheart14 Posted June 13, 2005 Share Posted June 13, 2005 limpxbizkid: AU$425 billion foreign debt. u relize it was the labour government that got us into that debt and the liberal party has been stuck 2 pay it of and has done alot of paying it of!! Aussie Aussie Aussie, :D Link to comment Share on other sites More sharing options...
____ Posted June 13, 2005 Share Posted June 13, 2005 Oddly enough it was during a time when Australia was in prolonged economic recession, suffering from eight quarters of declining economic growth. What do you honestly expect from any government faced with that sort of problem? Doing nothing would've been a VERY bad decision, if nothing had to been to fix it Australia wouldn't be in the position it is now, chances are we'd still be fighting to fix the ecconomy since Howard likes to line the pockets of the rich rather than help the people in the middle and lower-class. Link to comment Share on other sites More sharing options...
Death_By_Pod Posted June 13, 2005 Share Posted June 13, 2005 Doing nothing would've been a VERY bad decision, if nothing had to been to fix it Australia wouldn't be in the position it is now, chances are we'd still be fighting to fix the ecconomy since Howard likes to line the pockets of the rich rather than help the people in the middle and lower-class. Not really; previous to the great depression government investment was never usually considered to kickstart a recessive economy. It was thought that you should let it ride out and I would tend to agree with it. I personally don't like loans and would rather live with what I could afford then to take out uncesseary loans; but then again I don't run a country. Ohh yeah as an aside giving rich people more money should theoretically create a flow down effect. They have more money to spend so they are more inclined to pay for goods serviced by people of a lower class. If it works or not is another matter. I don't think any of the governments ideas are good but I'm a radical so my idea's will never usually get implemented anyway. John is just the better of two evil's in my book. Link to comment Share on other sites More sharing options...
Eng Posted June 13, 2005 Share Posted June 13, 2005 in a way ever country owes money to another country. its just they way things work. and as for the amount 208B or something thats because america is so big it can afford to be in that much debt. Link to comment Share on other sites More sharing options...
assassin_696 Posted June 13, 2005 Share Posted June 13, 2005 I wouldn't worry about it too much. You've still got the strongest and most powerful in the world, and are incredibly rich. :D "Da mihi castitatem et continentam, sed noli modo" Link to comment Share on other sites More sharing options...
Higothrekk Posted June 13, 2005 Share Posted June 13, 2005 and the g7 or g8 weirdos want america to give more to the useless country. Link to comment Share on other sites More sharing options...
trapical Posted June 13, 2005 Share Posted June 13, 2005 A lot of you guys are confusing the national debt with the trade deficit. As for having to pay off the debt? Picture a school yard full of kids, most of the kids are 6, some are 7, some are 8, a few are 9 and then there is a really rich kid who's 17. This kid borrowed some money from a lot of the 9 year olds and some of the younger kids as well. If you lent him a dollar what would you do? You can remind him, but why bother? -You're getting intrest on your loan. -He's rich, you know he can pay you back...eventually -And he's three times your size... and he has some big friends. You cant fight the US (literally), and there's no point in making threats to it since the US knows you can't back them up (you wont risk open war) Link to comment Share on other sites More sharing options...
minkis18 Posted June 13, 2005 Author Share Posted June 13, 2005 thats why i said debt not deficite... Link to comment Share on other sites More sharing options...
trapical Posted June 15, 2005 Share Posted June 15, 2005 thats why i said debt not deficite... I wasn't talking to you silly :wink: Example: in a way ever country owes money to another country. its just they way things work. and as for the amount 208B or something thats because america is so big it can afford to be in that much debt. Example 2: we (america) cares :roll: its kinda lame knowing your country owes money to everyone, but its been like that for a long time. and people are too busy with their lives to even think about the debt. thats just what i think :o :P Link to comment Share on other sites More sharing options...
vladmoney Posted June 15, 2005 Share Posted June 15, 2005 I think this has been discussed before, but whatever. Yea the debt is really real, and i think almost everyone knows about it, nothing new, politicians aren't worring to much about it because the people aren't worring to much about it. It ofcourse gona kill us in the end, that and social security (one of the factors in the decline of Roman Empire). What can you do though, getting rid of debt won't be solved over night but must be payed back slowly because we are just throughing money away now. I guess the debt keeps us at check, we earn money because we spend money. Visit my DeviantArt Page at http://vladmoney.deviantart.com Link to comment Share on other sites More sharing options...
jackalope14 Posted June 15, 2005 Share Posted June 15, 2005 we (america) cares :roll: its kinda lame knowing your country owes money to everyone, but its been like that for a long time. and people are too busy with their lives to even think about the debt. thats just what i think :o well, its not like we are the only country with debt. Every country has debt, so its not lame that we have debt, its how much debt we have that is lame. That might have been what you were getting at, but I just wanted to clarify :wink: Link to comment Share on other sites More sharing options...
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