$0 money in the bank would make us $8.6 Trillion richer.
How long can the USA defy the laws of economic gravity???
We are borrowing more money to pay the intrest on the money we owe...how smart is that??
2007-02-12 00:39:10 · 5 answers · asked by rattlecattle717 1 in Politics & Government ➔ Politics
The national debt looms as a worse threat to the USA than terrorism. Runaway spending is the enemy within that will bring the end of the country unless it is brought under control soon.
This has become more important since the Euro has come onto the international currency market. The international currency trade is what places value on the US dollar. With more countries questioning the stability of the US economy, international trade is starting to switch to the Euro. There is about 27 trillion US dollars tied up in the currency market. If trade in the dollar declines, that script would have to be bought back by the USA. The 8 trillion dollars in debt you mentioned pales in comparison to the 27 trillion dollars in script the USA is backing worldwide.
2007-02-12 00:56:26 · answer #1 · answered by .... . .-.. .-.. --- 4 · 0⤊ 0⤋
The USA is headed for collapse of the US dollar.
Thanks to President Moron.
2007-02-12 08:52:58 · answer #2 · answered by Retired From Y!A 5 · 0⤊ 0⤋
I'd guess almost all of that is owed within the country anyway... to banks, bond-holders etc etc
2007-02-12 08:43:29 · answer #3 · answered by waynebudd 6 · 0⤊ 0⤋
Not smart at all. If I elaborate , some sensitive person will feel insulted.
2007-02-12 08:44:34 · answer #4 · answered by jaco 3 · 0⤊ 0⤋
Wow - and we thought republicans were good with the nations credit card.
2007-02-12 08:42:46 · answer #5 · answered by Anonymous · 1⤊ 0⤋