National debt grows $1 million a minute!

reply to post by Xeven


If you know anything about inflation rates or interest due, you wouldn't take the situation so lightly, I don't think..

I just found this : Canada VS U.S.A.

Now, here's the shock: how does Canada compare with its neighbour to the south, the United States? It's not looking too good for the USA:

In 1980, the United States had its debt-to-GDP ratio around 40%, or where Canada was in fiscal year 2004-05. But since then it's taken off, and it is now above 60%. That's not good, and it doesn't look like it's getting better in the short term, given the recent deficit budgets that they have been implementing. It's certainly possible to get back from that situation - Canada has shown that - but they don't even realize that they have a problem. Or at least, I don't see any USA media coverage of this.

Oh well, I just wanted to share this with you.

Thanks !

And the history of the U.S.A. National Debt :

A Record of the National Debt1
YEAR MONTH & DAY OF
RECORD
NATIONAL DEBT
(IN DOLLARS)
1791 January 1 75,463,476.52
1801 January 1 83,038,050.80
1811 January 1 48,005,587.76
1821 January 1 89,987,427.66
1831 January 1 39,123,191.68
1841 January 1 5,250,875.54
1851 July 1 68,304,796.02
1861 July 1 90,580,873.72
1871 July 1 2,353,211,332.32
1881 July 1 2,069,013,569.58
1891 July 1 1,545,996,591.61
1901 July 1 2,143,326,933.89
1911 July 1 2,765,600,606.69
1921 June 30 23,977,450,552.54
1931 June 30 16,801,281,491.71
1941 June 30 48,961,443,535.71
1951 June 29 255,221,976,814.93
1961 December 26 296,168,761,214.92
1971 December 31 424,130,961,959.95
1981 December 31 1,028,729,000,000.002
1991 September 30 3,665,303,351,697.03
2001 September 30 5,807,463,412,200.06

Source :

Source

Originally posted by Xeven
Well if the dollar is devalued then the debt becomes less of a debt. As long as Americans make 5 times more money then its ok for a dollar to be worth 5 times less.

Say china has 1 trillion in our debt.

China will cash in the debt if that even looks like happening and that will lead to even worse consequences.