US National Debt is $8,697,871,627,363 Trillion Dollars + rising $1m each minute. Will USA go bust ?

Question

Seems to me the USA borrows more and more to now impossible levels. All debt is owed to someone... either foreign investors or mostly in form of USA citizens for pensions ect.

Isn't approaching $9 trillion a massively burdensome debt which is now impossible to repay all owed ? Won't the USA financial system implode at some point ?

http://www.uwsa.com/uwsa-usdebt.html

http://zfacts.com/p/461.html

Answer 1

brace yourself, this answer will jolt some of you....The u.s. national debt is the amount of money the U.S. government owes a private bank also known as "The U.S. Federal Reserve Bank"...note on all money, that this is printed "payable for all debts private or public"...this all came about back in 1918, when the vice-president at the time put the power of printing all U.S. currency in the hands of this private bank...whenever the gov´t needed money, it took out another loan from the Federal Reserve and this is the reason the national debt keeps growing...not to mention the interest rates.....If the U.S. gov´t took back the controls of printing its own money (set by the gold standard), there would be no "national debt"...for more info, watch the film in my sources...

Answer 2

Considering how tied together everything is, the countries that we owe money do will do everything they can to prevent it, short of causing a collapse in their own countries. Your average work a day citizen, be they republican or democrat, doesn't have a clue as to what is going on with the country financially, which is just the way most of the elite want it. The big boys are not too worried about a collapse, they are international corps and will just move to where the grass is green and wait it out. Anyone who remembers or has read about the Great Depression will know that the top 1% were inconvenienced while the rest of the country was traumatized. So I think you will find that both the Republican AND Democrats at the top really don't care that much.

Answer 3

It's a lot, but in the grand scheme it's not a problem.... it's controllable. For you it sounds like a lot, but in a country of nearly 300m people, probably 1% of whom are millionaires, some people worth $40'000'000'000 individually, it's really not that big a deal .... and it's only repayments, it's not like the have to come up with it next week. They sell more debt, while old debt is paid off, it's just how finance works, all major countries run defecits like that

Answer 4

It's really not a problem. The government will just make employees pay more taxes and it will cut back on social security payments as well. They'll find a solution. If not, the foreign investors and foreign banks that lent the government money will end up owning the USA.

Answer 5

Surely it's either $8,697 Trillion, or $8,697,871,627,383, coz what you're sying is it's $8,697,871,627,363,000,000,000,000 and that a lot of money.
But yes, the US would go bust if the Saudis asked for their money back, and there in no way on earth they can possibly expect to pay it back.
The US is a sham.
The most powerful nation on earth? No, just the greediest.

Answer 6

Yes. A financial disaster is likely in our life time if Congress does not act soon. If it happens, it will make the Great Depression look like an afternoon tea party.

Answer 7

No. Because we also have many countries that are indebted to us in the form of goods and currency. The cause of our economic collapse would be if our economic momentum came to a dead halt. While its very slow now, it won't completely stop, especially since so many other governments are heavily invested in our markets.

Answer 8

Time for Chapter 11. The company (country) is broke but the directors are enjoying their positions so much that they refuse to call in the receivers.

Answer 9

Who's gonna ask for it back ? They can just print some more anyhow

Answer 10

we pay it off next week, dont worry about it!