My mother always refused to borrow money and as a child I can remember that we had not much luxuory but always had good food on the table. We never
got evicted from our home and never had any other serious financial problems. If we needed a new washing machine she could always buy it with
cash....one day she surprised us with a new car.
One day I asked her what her secret is and she told me that she saved little amounts of money for each expensive and necessary household item and that
way able to buy or pay for repairs when something broke down.
I understand that you can not compare a family household-finance with the 'household' finance of a country but is the basic idea not the same?
Each year there are new Phd's, doctors and what not specialised in economics but it is as if they have no idea about how a household budget is made
and how it should work. Or is it that these economist understand their science but nobody in government wants to hear what they have to say.
How could the national debt of the USA could get out of hand this terrible?
For all I know the USA is a country with smart, creative and hardworking people and are there people guarding the financial health of the country at
all times in order to protect the american way and standard of living.
But something, somewhere must have went terribly wrong....the financial health went into a downward spiral and nobody noticed, didn't care or couldn't
find a solution.
I did some Google on the US national debt and found
THIS site
It shows a Debt Counter and it is shocking to see what the average increase is per day is. For people interested there is a FAQ list about the US
debt
I also found
THIS official US government site about the national debt.
The government does it utmost on this site to inform its citizens about the debt and come with (funny) creative solutions when it comes to reducing
the debt if there is a citizen too much worried and wants to help out:
How do you make a contribution to reduce the debt?
There are two ways for you to make a contribution to reduce the debt:
You can make a contribution online either by credit card, checking or savings account at Pay.gov
You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it's a Gift to reduce the Debt Held by the
Public. Mail your check to:
Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188
HERE is some information about the history of the US
national debt.
But it is not only the US that has built-up an incredible national debt....most countries have. So, I am probably and most likely naive if I
ask.....is it necessary for a country to have a national debt?
To compare the US national debt with some of the other mayor "players" in the world I have found
THIS web-page.
What will it do for a country to have NO national debt, or does nobody really know because that is a theoretical situation? We all know what a
terrible national debt can mean for the common man on the street...What would change for that same common man when his country has no national debt
but has 10 trillion to spent?
Now the US government speak to its citizens to be a good patriot and to show american spirit and overcome this nation wide financial problem. Is the
US government able to come with a good plan if their first plan failed miserably?
Anyways...a lot of questions...What would in your opinion be the best way to get rid of the national debt...how long would it take anyway? Would it be
worth to put in all the effort for a clean slate, what will you receive in return? What can a government do to prevent such a incredible debt from
happening?
Thanks for reading my thread.
edit on 10/10/2011 by zatara because: (no reason given)