2006-08-18 00:00:46 · 24 answers · asked by rockinrobjr 1 in Politics & Government ➔ Politics
Because of all the outsourcing of our raw materials to China and India, and labor to the same place. George Bush over printing of American currency, loans from Communist China on a unequal monetary exchanges and trade exchange. Borrowing funds and bonds from Russia. The two wars going on at the same time. Hurricane Katrina. Being over ran by Mexicans illegals...The inflation rate with the record profits of the oil monopoly's...That's enough to get the right idea....Here is a link to our running trade deficit...
http://www.americaneconomicalert.org/view_art.asp?Prod_ID=2508
2006-08-18 00:19:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
This sentiment is probably the best to describe what so many feel has happened to the United States of America:
United States Congressional Record - March 17, 1993 - Vol. #33, page H-1303 - Speaker- Rep. James Traficant, Jr. (Ohio) addressing the House:
"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner's report that will lead to our demise."
The rest of that is in this link:
http://www.whatreallyhappened.com/ARTICLE2/doodoo.html
As you can see, this was back thirteen years ago under a different administration and under a different set of circumstances. Somehow we always pull through each administration with country intact. The feeling still persists, especially when we ourselves are struggling to make ends meet. sometimes with three jobs in a married couple's home life.
Politicans seldom see the struggle we go through and are not down here in the daily grind of life where the result of all their tax and spend bills put us working folks.
Remember this the next election, rather than electing these fools and then forgetting them the next four years until they run again with all those rosy promises of chickens in every pot. Some times the chickens run out before they are delivered.
...jj
2006-08-18 00:24:21 · answer #2 · answered by johnny j 4 · 1⤊ 0⤋
Simply put?
Americans (individuals and government) live above their means. U.S. saving rates are abysmal.
Can't afford that big house and SUV that not only cost more they're also more expensive to maintain? No problem! Get credit.
Can't afford that war you're really gunning for and you want to cut taxes for your rich buddies? No problem! Issue government bonds and let the Chinese buy them up.
America is writing blank cheques left and right just to maintain a life style it thinks it's entitled to. In a few years when the Chinese, Europeans, Saudi Arabians come knocking asking for their money, what do you think is going to happen?
And from some of the responses you got, it seems most Americans aren't even aware of how screwed they are...
In Canada if a government runs a deficit, they get kicked out. In America the government runs a deficit and people just shrug and ignore it...
2006-08-18 00:14:37 · answer #3 · answered by Epicarus 3 · 1⤊ 0⤋
the Senate passed a record $2.8 trillion budget and increased our national debt limit to a tad below $9 trillion. You may ask what difference it makes that our national debt is trillions of dollars and each citizen's share is $27,981?We have an $8.363 trillion debt because the Bush Administration spends money as if there'll be no tomorrow. And they have a rather cavalier attitude about all their expenses; they don't want to pay for them. Their constant refrain is, "put it on my tab." When the tab comes due, there's not enough money in the US treasury to pay for it-remember those tax cuts that Republicans are so fond of-and so the government has to borrow money.
2006-08-18 02:02:43 · answer #4 · answered by jdfnv 5 · 0⤊ 1⤋
If we proceed to spend like we are, it constructive might want to be a possibility. inspite of the undeniable fact that, with an income of one thousand billion funds an afternoon, four hundred billion in gold and trillions in sources, there is merely about no way with no actual wakeful attempt that we may be able to bypass bankrupt.
2016-11-25 23:49:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It isn't, it just has a lot of debt. Unlike some other countries, it still makes its payments to its creditors. Bankrupt countries are the ones always asking for debt forgiveness.
2006-08-18 00:50:47 · answer #6 · answered by Brian B 3 · 2⤊ 0⤋
Get the book: "The Creature From Jekyll Island"... it will explain how it all happened.
To the poster that said we're the richest nation... nonsense. It's not true. Saudi Arabia is far more solvent than the USA. Plus haven't you been keeping track of our debt? Check this out:
http://www.brillig.com/debt_clock/
Good question.
'Nuff said?
2006-08-18 00:10:43 · answer #7 · answered by Mr. Peachy® 7 · 1⤊ 1⤋
its a big story made up by the government .WE are not bankrupt we have just spent more money then we took in .
2006-08-18 09:51:34 · answer #8 · answered by playtoofast 6 · 1⤊ 0⤋
They are one of the riches countrys in the world......hardly bankrupt
2006-08-18 00:05:38 · answer #9 · answered by tweetypie88888 4 · 2⤊ 0⤋
Simple the democratic party screwed the people of this country
2006-08-18 04:21:39 · answer #10 · answered by Anonymous · 0⤊ 0⤋