Am I paying more taxes to pay it off... or... something else? I'm curious to know. and who are we even paying it to? Who controls that?
2006-10-09 16:03:13 · 5 answers · asked by Anonymous in Politics & Government ➔ Government
It probably won't effect you at all, it will probably be your children and grand children. We own many foreign country's China being one of them. We really do need to get a grasp of this debt as it will cause problems in the future.
2006-10-09 16:07:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I assume you're young. If so you are going to have to pay it. Instead of getting social security or health care someday, your generation will have to pay the national debt instead. That's what the republicans are doing. Taking it so far will guarantee the eventually collapse of all social programs. Right now you owe:
8,554,327,500,000.00. http://zfacts.com/p/318.html will tell you all about it and allow you to download a nifty national dept meter. We own the money to other countries like Communist China! The young people of this country should be in the streets rioting! I swear to God we have nothing less than criminals in charge of the country now. What they've done has nothing to do with our security! Use your Internet connection and learn.
2006-10-09 23:33:28 · answer #2 · answered by Kim 4 · 0⤊ 0⤋
It can and will effect you in more than just paying more taxes. If other countries lose faith in the power of the dollar they will dump it for other currencies such as the Euro. If that happens, any money you have will lose its value. Some say it may lose as much as 25% of its value. This would hurt big business a whole lot.
In fact, it is believed that Saddam Hussein, was preparing to dump dollars for Euros just before he was attacked. Iran and many Asian countries are thinking of doing that too.
So you see, if a country owes to much, it loses its credit rating just like you and I: We are no longer good for any more credit. We are too big a risk to invest any more good money after.
2006-10-10 00:28:45 · answer #3 · answered by Joe_Pardy 5 · 0⤊ 0⤋
Here's where your tax money has been going--and also the reason for the national debt!...
http://www.global-conspiracies.com/fema_concentration_camps.htm
http://www.gnn.tv/threads/9229/FEMA_DEATHCAMPS_AND_THE_RED_AND_BLUE_LIST_UNDER_MARTIAL_LAW
http://www.thepowerhour.com/news2/ftct.htm
2006-10-10 10:16:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
ask me when they raise your taxes again
2006-10-09 23:11:32 · answer #5 · answered by acid tongue 7 · 0⤊ 0⤋