National debt when we go broke what will happen?

Question

Do the math 5 trillon divided by 300 million people = 16,000 worth of debt for each person. Then you have to take the amount of people working. Who knows that number. It is a server domino effect. Whats going to fix this problem. Amercia needs to pull its head out of its ***. We dont need to produce jobs we need to produce products. Good products that other countries will buy. I take Hundai for example. Less than 10 years ago there cars were mostly crap. They have a car now that is right up there with Honda. The deal is Gross domestic product needs to rise. Because money is just a tool of trade. Its all just numbers. I think some people need to go back to the barter system to get a refresher course. Money dosent grow on trees. It does for the treasury , and congress for some reason. If this problem is to be solved it needs it needs to happen soon. Here is an Idea Stop making more money back your money with something and make it so congress cant spend more money than they take in.

Answer 1

The national debt of $5 trillion is only part of the total US debt. There's also the corporate debt and the aggregate debt of US citizens. Taken together, America's total debt is about $44 trillion. Our endebtedness has gone far past the point of no return, financially speaking.

America's money system, for at least the past hundred years, has been a system of monetized debt. Once upon a time, money was dug out of the ground as gold or silver and minted into coins by the Treasury as a public service. Today, money is "created" as an accounting entry when a banker makes a mark in a book or types a number into a computer. Monetized wealth is anchored in the real world and automatically obeys real world limits, but monetized debt is disconnected from it.

We were hooked on "fiat money" because the Jewish banking houses in Europe did not want America to be both strong and independent of their financial system. In the mid-1800s, these bankers agitated against slavery in the northern states and caused the Civil War, loaning money to both North and South in order to endebt both to themselves.

Debt can be a means of controlling somebody. If someone owes you money, and you know that the police will act to protect your right to collect that money, then you can put pressure on the borrower to do what you want him to do, or else you'll send the police to take all his property away and make him, and his family, very poor.

That's what the Jews did to America, and to England, and to Germany, and to many, many other countries. And they did it with a sneaky trick called usury.

Usury is an old game with the Jews, but it's modern manifestation is especially cancerous.

All the "US" paper money in circulation is actually Federal Reserve banknotes. Those represent the aggregate principal of original loans made by the Jewish bankers to whoever borrowed it. The borrowers spent the money on one thing or another, and the money entered circulation. But it's still, all of it, only the principal.

Even if all the banknotes returned to the Federal Reserve, the debt wouldn't be paid off because of the interest that accumulated since the money was loaned. But there would be no other money to pay that interest with. So the bankers would take somebody or other to court and strip him of all his property.

Now, consider that the bankers never do any work to justify the income they receive. Banking is simply glorified accounting, or bookkeeping of the same kind that you do when you balance your checkbook. Those record keeping chores don't actually constitute a service for anybody except the bankers themselves. So why are they entitled to such massive incomes as they get from the rest of us?

What the Federal Reserve does has a name: COUNTERFEITING. They print up money and pass it out, getting an income from money paid back as interest or, in lieu of money, the property of those who default on their loans. That's what criminal counterfeiters basically also do, except they evade the intermediate step of making loans. The only reason it's legal when the Federal Reserve does it is that they have a license to do it from the US government. And it's an EXCLUSIVE license that only THEY can get. Don't you even think about it because there's a 20-year prison sentence waiting for you, if you do.

The only way to save America for the Americans is to repudiate the entire debt of the United States by appropriate legislation. The bankers anticipated such a move long ago. After the Civil War, in a long process marked by much legislative and federal cheating, they had our government impose on us the "14th Amendment." Read it carefully.

Answer 2

I wouldn't worry about it too much. Though I agree their should be rules in place to force a balanced budget except for times of war or great need (like Katrina or 9/11).

The debt burden is not so vast that we cannot simply grow out of it, provided we simply maintain a little fiscal discipline here at home. But I don't think it is going to happen in the near future. Social Security is going bust, right at the same time that the biggest generation is retiring. Obviously no one (except for Bush) has the balls to actually try to fix it, so as a result we will pour even more money into it.

I am still irritated with Bush on that prescription drug plan deal, moeny spent on the war on terror is fine because it has to be done, but to add another entitlement program to the mix was retarded.

Answer 3

I have only an elementary education in economics and I can tell you that your ideas are idiotic. You might want to invest in your education a bit more so you have a stronger understanding of complex ideas before you go off and tell the world your ill-informed opinions on a subject dressed up as a question.

Answer 4

When we go broke we'll just print more money... and the Democrats that get elected during the mid-terms and in '08 will tax the living hell out of us.

Answer 5

When other countries or entities stop bankrolling this country's deficit, interest rates will rise. It is impossible for this country to "go broke".

Answer 6

Earth to you - YOU ARE BROKE

The democrats will have to repay the 'less government' of the repubes