Is it true that Americans have a TRILLION dollar deficit?

Question

Who will the Americans be indebted to?Where will they find money to pay this?

pathfinder..where is all these billions coming from?

Answer 1

Sure, but we're good for it. I swear!

Answer 2

funny...more value in a persons mouth (gold cap) than their pocket!

8.6 trillion is the US national debt borrowed by the general fund the highest ever in history.
The US dollar keep declining it's time to start recognizing the early warning signs of a gathering storm regarding the strength and the stability of the United States. Spending programs such as war and civil servants, health, education, welfare, urban renewal, and the like, should come from taxing at first the wealth and income. But instead, the Government adopted the philosophy of cutting taxes to boost economic growth. It does not work!
The National Debt: Printed by the US Mint.
1910 2.6 (billions)
1920 25.9
1930 16.2
1940 43.0
1950 257.4
1960 290.2
1970 389.2
1980 930.2
1990 3,233.3
2000 5,674.2
2005 7,932.7
2006 8,506.9 (trillion)
Income taxes were/are cut, and has not create more money for the economy to grow, instead the US Mint has to print more and more money, which gives it to the Fed Reserve, which gives it to the White House, to pay for the countries programs (and whatever). And the process is repeated, over and over again. The more money gets printed, the more money goes in circulation, which chase the same items. It is that creation of money that visibly raises goods prices and lowers the purchasing power of money. Inflation is defined here as the creation of new money by monetary authorities, i.e, the US Mint.
More credit was needed by regular Americans to make the necessary purchases.
Consumer debt increased by $434 billion, from $839 billion in 1993 to $1,273 billion in 1996.
1996 - 1.2738 trillion
1997 - $1.3449
1998 - $1.4421
1999 - $1.5563
2000 - $1.7358
2001 - $1.8690
2002 - $1.9527
2003 - $2.0344
2004 - $2.1206
2005 - $2.1780
2006 Qtr 1 - $2.1900 trillion
House Mortgages - Outstanding

Foreigners own over $8.2 trillion of assets in the USA. Equities on the US stock market are at historically high PE ratios, some 3 times above the norm and twice the level of PE ratios on foreign stock markets. Real estate looks as it has peaked. Especially with arise in interest rates in prospect? Here's where the "point of recognition" becomes important.
Foreigners will, firstly, consider how far the dollar will depreciate against their home currency over the next 12 months. Could it be a 5%, 10%, 15%, drop? Then the question is: "Can USA assets rise by 15% to compensate for the currency loss and leave the investor in a level, no win, no loss situation?" The answer seems to be a clear "No".
Foreigners/Americans with large sums of money at risk are quietly taking profits out of the US market, US unbacked dollars is being used to bolster the market indices so the average investor (US and foreign alike) are kept blind to what is about to hit them.
This disaster-to-come has been created artificially by (a) politicians' selfish desires to portray a financially healthy US economy for the advancement of their own political careers, (b) to benefit small, united groups of unscrupulous, rich, and over-speculative investors that make significant (and often wrong) investment decisions but also make significant campaign contributions, (c) refusing to warn the populous regarding the outcome of consistently over printing US unbacked dollars.
Inflation, has become your new tax. See here below, and know if the tax cuts benefitted you.
The top 1% of households own almost 40% of the nation's wealth.
The top 4% of Americans own 60% of the nation's wealth.
The top 10% of Americans own over 70% of nation's wealth.
The top 20% of the nation's households own 85% of the nation's total wealth.
The bottom 40% of households own one-fifth of 1% (or 0.2%) of the nation's wealth.
The bottom 60% of Americans own only 5% of the nation's wealth.
The bottom 80% of Americans own only 15% of the nation's wealth.
The total wealth in America totals $27 trillion dollars.
(Wolff, 2000)

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and to top it off.....China be setting on 1 trillion dollars of surplus!







thanks to the America people that don't give a sh!! about ........





made in USA..............priceless!

Answer 3

Not Quite, but you are getting there. You little adventure in Iraq is costing you (well your kids actually - they will be paying for it) around $200 Million PER DAY (and that is just Iraq).


The global current account deficit of the United States is now larger than it has ever been—nearing $800 billion, almost 7 percent of US GDP. To finance both the current account deficit and its own sizable foreign investments, the United States must import about $1 trillion of foreign capital every year or more than $4 billion every working day. The situation is unsustainable in both international financial and domestic political (i.e., trade policy) terms. Correcting it must be the highest priority for US foreign economic policy. The most constructive remedy in the short term is a three-part package that includes credible, sizable reductions in the US budget deficit, expansion of domestic demand in major economies outside the United States, and a gradual but substantial realignment of exchange rates.

Answer 4

Its more like 3 trillion. Some so called official reports not-with-standing.

In addition, USA is a habitual perpetual defaulter of UN dues which it hasnt paid for over a decade now.

This is all a result of American profligacy and consumerism.

No wonder Americans have to put their foot in every pie- Iraq, Afghan, et al on trumped up charges- to get hold of more and more oil; to consume their obsolete weapons, and foment terrorism and warfare in more countries- to sell their weapons and weapon systems to the not-so-powerful nations.

Unfortunately-- Its the American Taxpayer who foots the bill for these ghastly deeds. Beneficiaries- Oil Majors, Weapons and weapon system manufacturers and traders.

Its upon the American ppl to ensure that their leaders do not go out and attack other countries to satiate their personal and their beloved billionaire companies lust for OIl, money and power-- at the expense of US taxpayer money and lives.

Its because of this raw miltary power that countries like japan, Saudi et al are forced to invest in USA. If they choose to withdraw tomorrow, USA will be bankrupt and an absolute pauper. Unable to pay its dues to anyone.

Answer 5

Yes. But we have alot more in equity. We have over 50 Trillion in houses alone. Alaska itselef is woth Trillions. Our American companies are worth 20 Trillion dollar and with the market increasing that is going up and up.

Answer 6

Obviously NOT, if you have been following the news for the last couple of days, the U.S. sent 12 BILLION dollars in CASH to Iraq to help the Iraqi govt., and now the CASH IS MISSING IN ACTION.
My question is, how can a country that is in debt for trillions, be able to send 12 billion in cash to Iraq, like it were pennies?

Answer 7

As of yesterday morning it was almost 3 trillion. China is one of the countries which money was borrowed from, With Jobs going over seas and to boarding countries faster then a blink of an eye, who know where we will get the money!

Answer 8

Hi friend,

Dont u know this,

"America is the country which have large Debts in the world."

American Economy,...etc may be high - But Debts are very high.

All the money are given by World bank [head of world bank wil be mostly appointed by america]

No president in america have repaid itz debts. [They cant actually]

They get large money from from world bank and they distribute few part to other poor countries?? C the waste condition?

Answer 9

yes, the Iraq-Afghan wars have burnt a hole in the american pocket. and the beneficiary of this is Japan, Saudi Arabia and China (which has an account excess of $100bn)
this amount must be paid back to the countries... and that money will come from the taxpayers' pockets!

Answer 10

No, its more like 5 trillion$. This money is owed to other countries like Japan, Saudi Arabia, and a dozen or so other countries.

Answer 11

Actually, it's pushing 9 Trillion.