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Is the debt worth worrying about?

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posted on Apr, 2 2010 @ 01:14 AM
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I have been bombarded by thoughts lately of the economic collapse of the good ol' USA. These thoughts all stem from the thought of debt collectors. Now some people say that our children will pick it up, but is this a fact? How long is this debt sustainable? In my head it goes through like a typical bankruptcy. I have heard of countries like Greece that are in the crapper right now but honestly I have heard no updates on them except that they are bankrupt. I can't imagine it on a scale as massive as an entire country. Our politicians only pay attention when their party isn't in control, this leads me to believe that they honestly don't care about the debt and it seems to comfort me a little bit that maybe they know more about it than I do. So is it worth worrying about? Can the U.S. actually go into bankruptcy and who do we answer to? What would be the repercussions of going into bankruptcy? Are our kids actually going to pick up the debt or are they just going to pass it along in an endless cycle? I know this is too many questions but this is my mind at work and it doesn't like idle time.




posted on Apr, 2 2010 @ 03:31 AM
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F*** the debt that you have.. because techically our debt is backed by nothing unless you consider our "Strawman" a real backer of debt~



posted on Apr, 2 2010 @ 09:16 AM
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Up until lately, I never worried about the public debt for the past half century. It just didn't affect me since institutional investing never interested me. Now, I'm a bit more concerned - but just don't know how to take any action since I'm on the disability dole (after 3 years in court).
If I had any cash assets left, I'd move into precious metals in an instant.

I'm hoping that the Recover America Plan actually has some effect in reducing this debt menace. I've had other pipe dreams from time to time as well.


gj



posted on Apr, 2 2010 @ 10:23 AM
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There is no way to Pay this back. The Government is doing this on purpose. no rational thinking person puts themselves in debt, and thinks its a good thing. can any liberal on here Spin, that this much Debt is not a big deal? That this much debt well be easy to pay off? I would like to hear it. The Liberal spin is that debt is a good thing, which is a flat out lie. who hear wants to be in the red? Why is it good for our country to be there?
We are the United States of America, Why do we have to borrow from China?
We have to buy their crap products, and now they own us. Thanks for selling us out Hillary.



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