Is it too late to turn the US National Debt around?

Answer 1

yes

Answer 2

No. It's never to late to pay off your debts. It's would just be very painful and require a lot of folks to reduce their quality of life below what people think is acceptable. Taxes would go up, federal spending on the bazillion little pet projects for each congressman would have to drop, and we'd have to pull back on foreign aid around the world. There would be protests in the streets, but it could be done.

Answer 3

Nope, but we have to stop being the world's welfare office as a good first step, and we need to chase some guys out of office that've been there too long for it to be honest etc. Congress needs to be cleaned out, they way they do business needs to be reformed, the whole show, basically, and we need our economy to provide the jobs people need instead of the government etc.

The national debt exists because Congress spends in excess of tax reciepts. You either have to elevate the taxation levels, or you have to choke back HARD on spending. With 8.4 trillion in red ink, and counting, on the books already, the estimated rate of increase for the debt is some 2 billion dollars, we're permanently indebting ourselves to countries like China and Saudi Arabia at an intolerable rate. People don't have much of a concept of the national debt because it's not exactly headline news.(Which raises all sorts of questions about your 'headline news', but we won't go THERE). I fully believe that a major 'componemenenement' of the national debt is the good old art of deliberate misdirection. We, americans, are deliberately being steered into a situation where half the world is involved in our real estate market, or more to the point a close-knit circle of Very Wealthy People from all corners of the world, whose 'kingdoms' now include things like your BANK. Yes, the nice friendly people that let you refinance your mortgage and take cash out against your house etc. It's that 'economic stimulus' they keep talking about, well our economy's pretty damn well 'stimulated' all right, but I think most people, if you asked em, and they were in a mood or position to answer honestly, would tell you they're getting pretty sick of the National Hand Job. Pre-taxing your great-great-grandkids that you might or might not ever have is just another politician's crafty way of Giving You The Business. Increasingly, many feel that it's time to have a public going-out-of-business sale, to at least somehow openly announce the actual circumstances we've witnessed. I don't care about the extent of the fraud, fraud is still fraud, and the american public is being defrauded. America stands for good values and principles, and the extent to which those principles are not being followed, either in the Capitol or at your local animal control office, that's the extent to which americans should be making signs in their back yard and going down to Wal-Mart and buying megaphones, and organizing with their friends and neighbors to take issue. There's no need to have a national debt,
other than to compensate for decades of increasing public apathy. I say 'shut down the local welfare office'. Americans don't need welfare, they need to get ORGANIZED, and motivated, and start solving problems the old-fashioned way, through hard work rather than through government handouts.

WHY be such a hard-nose about the debt? Simple. The interest.
If you look up the amount of interest americans now pay on the debt, you'll find it's what was being spent on defense not too long ago. Who's all that money go to? Good question, more and more goes overseas each year, and already we've got issues with foreign control of US businesses and banks. Bottom line, america's been sold right out from under our feet, again, to great countries like Saudi Arabia. I don't think it's right, I don't think it's fair to americans, and the national debt and its' astronomical increase over the last 20 years since about 1980 or so is testament to the fact that, at the end of the day, politicians will beg, borrow, and steal every thin dime they can from anyone that's not paying close enough attention in order to achieve their goals, however dubious they might be. We have a national debt because of these 'carpetbaggers', they should be answerable to the nation in terms of being required to formulate good, honest, and responsible plans to get it paid off and done with, and those plans should be front-page headline news, at least in my view...

Answer 4

We can't even keep up with the interest on our debt let alone pay it back. The government complains that citizens over extend themselves financially and have too much debt. They even changed the bankruptcy laws to help merchants. The government is not setting a good example to be responsible Americans with the debt THEY accrue.

Answer 5

It's never too late. The thing we first should do is outlaw abortion (first because its a moral outrage) so the millions of future tax payers that have been killed off will be able to contribute to society. Then we should go after the welfare and packages American's are receiving. The incredible amount of money these people get is ridicules. If you see the amount of groceries welfare recipents can by compared to the amount your able to afford it would make you sick. Third, moralty needs to be injected back into our school system. Kids don't learn today, because their parents don't care enough to shut off the TV and actually raise their own child. If parents would step up to the plate their children would grow up and make meaningful contributions to themselves and society.

Answer 6

Yes... the US is paying soo much just for debt service (interest) that it is likely that the debt will never go away...

Answer 7

No. We can always get out of debt. We just have to quit spending. Start with telling Congress that they can't have their raises.

Answer 8

Yes, foreigners already own too much. I don't think they will sell it back without a huge profit.

Answer 9

yes, you are about to be declared bankrupt :)