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USA $9 Trillion in Debt

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posted on Dec, 5 2006 @ 10:00 AM
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Due mostly to the war on terror. It was 5.6 trillion when Bush took office now almost $9 trillion.

Basically we are broke and going further into debt.

Why are we fighting this war that is financially putting us into the abyss?

www.npr.org...

www.brillig.com...

I wish I could spend money I don't have then keep raising the limit so it puts everyone in the USA into about $30,000 worth of debt per person.

Maybe the USA needs to file for bankruptcy, because we sure can't pay off this debt with almost no production and industry here in the USA.

A wealthly nation is when a nation produces something from the ground to it's end product and most of that is done in China these days.

We are just washing each others backs and exchange money no real wealth is being produce anymore in the USA. And slowly the US government takes a lbit of that money for high taxes based on a booming economy until its all gone and most people have nothing left.

if this is being done purposely then it is an act of treason or maybe even economic terrorism.




[edit on 5-12-2006 by Realtruth]




posted on Dec, 5 2006 @ 10:08 AM
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economic terrorism...now thats an unusual slant on it, but after 9-11 and other events, i wouldn't be at all suprised if this was a deliberate ploy so people would clammer at the chance to join Canada and Mexico in a union to stabilise the continent...and then you have all those cheap mexicans to run any production lines!!

economic internal terrorism... I like that, its a good new view!



posted on Dec, 5 2006 @ 12:13 PM
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source 2 years ago US upto 3 trillion indebt and rising 500Bn a year




bbc

Other people's money

So the message in Laredo is that empires very much come and go.

But what of the US and its dominant position in the contemporary world?


Is it too set to decline? It may seem like a ludicrous question.

Most commentators I have spoken to believe that, in the short-term at least, US power will actually grow.

But economist Will Hutton told me of what he calls "the dark underside of the United States economy" - the condition of its international accounts.

Put bluntly it owes the rest of the world $3trn dollars, and that is debt which is increasing by $500bn a year.

Mr Hutton makes a persuasive case that America's current strength is built on other peoples' money and he fears that the US economic bubble will eventually burst.

"People simply aren't going to carry on lending America billions and billions of dollars and America's not going to carry on borrowing it," he told me.

In his view America's economic strength is "built on sand".


so if it was 3trillion 2 years ago and now 9 trillion
debts just trippled in 3 years.


how can the worlds most advanced country and power full nation ring up a debt of over 6 trillion in 2 years?
how long long will it take for the next generation of americans to fix the screw ups of the current generation?



posted on Dec, 5 2006 @ 12:36 PM
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You guys should vote for a fiscally responsible Democrat next time and not an out of control spending Republican!!!

That's what we get for 8 years with a Republican president. If we vote for one more Republican for president, our economy will be in serious trouble.



posted on Dec, 5 2006 @ 12:39 PM
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Actually, the debt is more or less controlled now. As long as the economy grows faster than the debt grows, it doesn't matter how high the debt is.

Say you have $5000 dollars over all. You need $2500 of that to spend on paying off debt and other things. Now if that debt doubles it doesn't matter as long as your income is increased the same amount or more. For example, the above is the same as $5000 on debt and others and having $10,000 over all. Of course, it would great to have more money to spend on social issues and other things than on debt, but it has been worse in the past.

Countries near or worse off as the US with external debt:
United Kingdom
Germany
France
Netherlands
Ireland
Belgium
Spain
Italy
Austria
Sweden
Switzerland
Canada
and so on...

Countries near or worse off with public debt:
Japan
Italy
Israel
Belgium
Germany
Canada
Austria
France

www.cia.gov...

This is the type of "debt clock" that you need to watch. Unfortunately, our economy has slowed recently so the debt is growing faster than the economy.

www.optimist123.com...

[edit on 12/5/06 by pugachev]

[edit on 12/5/06 by pugachev]



posted on Dec, 5 2006 @ 12:54 PM
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I wanna see the chart that shows debt to income ratio, that's the number that matters.



posted on Dec, 5 2006 @ 12:57 PM
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You should be able to find all the economic statistics here:

www.ustreas.gov...



posted on Dec, 5 2006 @ 01:48 PM
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The US has a 16 trillion dollar GDP.

The debt is not as bad as some of you would make it seem.



posted on Dec, 5 2006 @ 01:51 PM
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Originally posted by pugachev
Actually, the debt is more or less controlled now. As long as the economy grows faster than the debt grows, it doesn't matter how high the debt is.



Your kidding right?

Most americans save less than a $1000 a year if they are lucky, if the government started to take $1000 extra in taxes a year from each 200,000,000 people it would take over 59 years to pay the debt off with interest rates. But Each person in the USA doesn't have that kind of money and never will at the rate we are losing to trade and industry deficit.

Our economy is not growing don't BS yourself into think that at all. We have lost over 90% of our industry and production oversea because it is cheaper that way.

The money that we now have in the USA is money from when we use to produce things, now it is just people exchange dollars and BSing themselves that things are OK.

The US government produces nothing, it consumes taxes dollars to run and spends money it doesn't have.

And about external debt. LOL! most countries are switching to Euros instead of the US dollar. US dollar use to be 1 dollar to a $1.50 canadian less than 5 years ago now it is par.

The US dollars is worth nothing and the rest of the world knows it.
www.brillig.com...

U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 05 Dec 2006 at 07:47:05 PM GMT is:
$ 8 , 6 4 4 , 2 5 5 , 5 7 4 , 9 8 5 . 4 1

The estimated population of the United States is 300,393,454
so each citizen's share of this debt is $28,776.44.

The National Debt has continued to increase an average of
$2.04 billion per day since September 29, 2006!

[edit on 5-12-2006 by Realtruth]



posted on Dec, 5 2006 @ 02:01 PM
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Originally posted by ferretman2
The US has a 16 trillion dollar GDP.

The debt is not as bad as some of you would make it seem.


That kind of statement was valid when the USA really produced products and sold them external to the USA and made a profit.


Go into any store these days and you'll find the more than 90% of what is being produced is made outside the USA.

Cars was one of the last things that we produced here in the USA and now that is disappearing quickly.

I don't think you all understand the implications of real economic growth. You need to produce something and sell it for a profit, not just exchange services. LOL! even services are farmed out to India, Phillipines. When was the last time you called and got help from someone that could barely speak english and was outside the US. We are getting the rug pulled out from under us and don't even know it.



posted on Dec, 5 2006 @ 03:23 PM
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Originally posted by Realtruth
That kind of statement was valid when the USA really produced products and sold them external to the USA and made a profit.


yeap almost everything that is sold in the US is either made in China,India,taiwan and so forth.
the only thing the US makes most profit is in deffence sector ( a country built for war)



posted on Dec, 5 2006 @ 03:26 PM
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The national debt is not just one number, nor is it a simple issue. There are a number of questions one must ask in order to even begin to fully understand it. These are only a few important questions that must be asked:

1) How much of the US national debt is owned by US federal and state government agencies?

2) How much of the US national debt is owned by private US citizens and US business entities? Who controls the means to tax US private citizens and businesses?

3) How much of the US national debt is owned by foreign interests?

4) In what currency is the US national debt guaranteed to be repaid?

5) Who controls the means of printing this currency?

6) What is the payment that the US governement must make every year in order to service its current national debt?

7) What percentage of yearly US federal tax reciepts does this represent?

The answers to all of these questions can be found online. Put aside your preconcieved notions about the US national debt and you will likely arrive at some interesting conclusions.



posted on Dec, 5 2006 @ 03:45 PM
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One question. Does the $9 Trillion figure include the $2.3 Trillion that is "not missing, we just dont know where it is" from the pentagons budget?

Being discussed here if any1 cares



posted on Dec, 5 2006 @ 04:29 PM
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Originally posted by Conspiracy Theorist
One question. Does the $9 Trillion figure include the $2.3 Trillion that is "not missing, we just dont know where it is" from the pentagons budget?

Being discussed here if any1 cares


Wow! excellent question and thank you for that interjection.

hmmmmmm....so tack on another 2.3 trillion Great.



posted on Dec, 5 2006 @ 06:06 PM
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Yes, it is included. The government certainly has long since known it has spent that $2.3 trillion. The military only recieves the amount of money that Congress appropriates for that fiscal year, nothing more, and the overall amount is known.

It is considered 'missing' because the Pentagon does not have a record of what the money was spent on, not because they've suddenly found a heap of bills they owe.



posted on Dec, 5 2006 @ 06:36 PM
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Originally posted by BANGINCOLOR
You guys should vote for a fiscally responsible Democrat next time and not an out of control spending Republican!!!

That's what we get for 8 years with a Republican president. If we vote for one more Republican for president, our economy will be in serious trouble.


Fiscally responsible Democrat... hm.. never met one. Never seen one. Never heard of one, in fact... I think your making it up!



Whats the difference between Dems and Reps? Spend money on different things!

Of course there is the war, but we are making money off the war. Oil prices haven't been high for nothing you know. - 50% excessive income tax.

Anyways, I was wondering.. what would happen exactly if America did in fact declare bankruptcy?



posted on Dec, 5 2006 @ 08:26 PM
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Well said Rockpuck...

It doesn't matter whether the gov't is controlled by Dems or the GOP, spending WILL RISE - it's just a matter of what it is being spnet on.

The best way to curve a rising debt, is to have a conflicting Congress and Presidency. For example, a Democratically controlled Congress and a Republican president. In those situations, the deficit rarely rises over .5%... with a united Congress and President, deficits rise between 3-5% annually whether under Democrats or GOP control.

By the way, as Milton Friedman said it, Republicans DONT WANT to be in such a huge debt... thats not the core Republican principle.



posted on Dec, 6 2006 @ 04:15 AM
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Originally posted by vor78
Yes, it is included. The government certainly has long since known it has spent that $2.3 trillion. The military only recieves the amount of money that Congress appropriates for that fiscal year, nothing more, and the overall amount is known.

It is considered 'missing' because the Pentagon does not have a record of what the money was spent on, not because they've suddenly found a heap of bills they owe.



Without derailing this thread, could you provide a link that backs up what you claim. Post it into the thread i linked to in my previous post.

The money is gone. $2.3 Trillion was spent. Just that the DoD has nothing to show for it.



posted on Dec, 6 2006 @ 04:29 AM
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Originally posted by Realtruth
The US dollars is worth nothing and the rest of the world knows it.
www.brillig.com...

U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 05 Dec 2006 at 07:47:05 PM GMT is:
$ 8 , 6 4 4 , 2 5 5 , 5 7 4 , 9 8 5 . 4 1

The estimated population of the United States is 300,393,454
so each citizen's share of this debt is $28,776.44.

The National Debt has continued to increase an average of
$2.04 billion per day since September 29, 2006!

[edit on 5-12-2006 by Realtruth]


Damn, that's actually about how much I'm in debt by.

This is just another reason why we should abolish the Federal Reserve. It's "serving" no good purpose, aside from giving those with the power the ability to create money that doesn't exist to fight a war that no one wants to fight, to kill people that don't wanna die, just so they can take other people's money!! It's just too bad no one else sees it this way, well, someone in power anyway. I figure all of us that are suffering because of it can see it.

I really wish I could make up fake money to pay off all of my debts, and then leave the debt squarely on the shoulders of the National Debt. Then again, if they can, so can I right??? No??? BUMMER!!! I wanna recount!!!

TheBorg



posted on Dec, 10 2006 @ 04:25 PM
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Wouldn't it be nice to own or control part of the Federal reserves? Hey Dad! Print up 400 more million today for us so we can buy an Island. LOL!



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