2006-07-17 12:25:01 · 19 answers · asked by Joseph H 1 in News & Events ➔ Current Events
More taxes... ummmmm that's all i can think of
2006-07-17 12:27:01 · answer #1 · answered by Chocolate Beauty 3 · 0⤊ 0⤋
By borrowing more to make the repayments. Yes that's the problem. How or when will any nation do it. Can you imagine politicians raising taxes. Maybe you should just tell them it would be okay. Remember there's a difference between annual deficit and total debt.
Theoritically the end is bankruptcy. Happened to New York city in late 70s. Almost to New Zealand in 80s. There could be all kinds of nasty unpredictable consequences, it's serious.
2006-07-17 14:13:17 · answer #2 · answered by ? 2 · 0⤊ 0⤋
That is what the problem was when President Clinton was running for office. He promised to pay off the debt and he did.
I realize that it is a frustrating experience to figure out how to deal with it, but it all boils down to the fact that there was a 1/2 trillion surplus before Pres. Bush went into office and it got worse when he started out handing out tax cuts to the wealthiest people to enable them to invest in infrastructure.
Now what we need is a Democrat who will come in and tax us to death until we pay it off.
Isn't there a better way to pay it off?
Having a war going on doesn't help. And the big problem is that baby boomers are going to start dying off now. So their incomes will be less and there will be less revenue coming in from those baby boomers.
I am as worried as you are, but you know what?
Every time I see someone in here proclaiming George Bush is the best thing that ever happened to the U.S. I figure that he's the one who is going to pay it off.
2006-07-17 12:34:20 · answer #3 · answered by Roseknows 4 · 0⤊ 0⤋
By squeezing the living life out of every citizen, coz every single dollar available has been "invested" in the war against terrorism (which they still have not found any solid evidence and Osama isn't captured yet till today). Not being pointy here, but things got really really bad and tragic when Bush became President. It was like he stepped on dog poo every day.
2006-07-17 14:46:21 · answer #4 · answered by pee_bag 3 · 0⤊ 0⤋
the united states has the biggest economy in the world if any other country had a debt the size of ours they would never be able to get out. but being were are the richest country are economy will grow enought to pay it back.
2006-07-17 12:29:53 · answer #5 · answered by KEN R 1 · 0⤊ 0⤋
Easy. They can't call us in because they all owe us. Brazil owes us in particular a ridiculous amount. Who's going to call us in? Like it or not, the world needs the USA
2006-07-17 12:28:31 · answer #6 · answered by RandyGE 5 · 0⤊ 0⤋
That amount seems a little high, but I dont have any idea other than taxes. One flat tax rate for everyone, no refunds, no tax credits, nothing. That will get it paid off pretty quickly
2006-07-17 12:29:31 · answer #7 · answered by rockydriver22 5 · 0⤊ 0⤋
Reduce benefit for elderly people of social security fund and welfare...one day we have no social to draw out when we get old.
2006-07-17 12:30:02 · answer #8 · answered by Duke 5 · 0⤊ 0⤋
That will not be paid in my lifetime or yours. We are still paying for WWII. The interest keeps growing and all we can do is pay it.
2006-07-17 13:40:04 · answer #9 · answered by old codger 5 · 0⤊ 0⤋
In California Hookers
2006-07-17 12:28:42 · answer #10 · answered by dbrady 5 · 0⤊ 0⤋
we won't we will let it keep increasing like it has been doing for a couple of hundred years.
2006-07-17 12:46:11 · answer #11 · answered by Pussycat 4 · 0⤊ 0⤋