How can a so-called Superpower be $8.7 trillion in debt?

Question

What if our INCOMPETANT government's US mint runs out of INK to print funny money on?

Answer 1

Not too difficult to figure out when you consider our "Chief Executive" bankrupted every business he ever ran.

Why is this so surprising from a Vice President quoted as saying "Deficits Don't Matter"?

This is what the American people voted for. 'As ye reap, so shall ye sow.'

Answer 2

We can always buy more ink from China on credit.

The reason we can be so far in debt is that the US dollar is the only currency that can be used to buy oil. It's like being the only bar in town. Even if you pour small watered down drinks you will still be in business. Until a competitor comes to town (but because we have the largest military in the history of mankind that will not happen. Remember what we did to Saddam when he tried taking over the middle east's oil?)

We are a nation run by corporate gangsters, and we bully the world into doing what we want them to. Until China gets tired of playing by our rules, then they will be the new dominant superpower.

America has the potential to get off oil like other countries have done. Why do you think we haven't done it?

Answer 3

If the government prints money to pay the debts, then that causes inflation to go up. Our inflation is about the lowest it has been since the 1950s. Ask Jimmy Carter about inflation, his was the highest in US history.
By lowering taxes, the economy is stimulated which causes growth, which increases tax revenues. That is why the deficit is coming down and the economy is still strong. It is NOT rocket science, but it is still too tough for Democrats and other Liberals.

Answer 4

Yes it is a staggering amount. the answer is complex but kind of simple really. It's our fault for the most part. Letting government grow to a monstrous size. The amount of bureaucracies that waste our tax dollars is a shame. Yes we keep re-electing the same type of big government politicians. It is a case of the tail wagging the dog. But what even scares me more is the liberals who run the democratic party today don't think we spend enough on all these big pork bureacracies and if they get more power like the presidency will increase taxes on all of us! Now that is scarey!

Answer 5

Well we were a superpower with only around 2 trillion dollars of debt now King George has somehow brought that to 8.7. If George were Wise he would realize that the debt and our energy situation are a bigger threat to national security.

Answer 6

The federal deficit has dropped significantly. Stop listening to faux news and listen to the auditors on CSPAN when they're in session with Congress. By saying this government is incompetent, try living somewhere that you can really enjoy better freedom and big dollars in your pocket.

Why do you think all these foreigners are coming to America?, 'cause we can't put the money back?

Answer 7

It's funny that this country was in worse debt during the Vietnam, Korean, and Cold war era, but still emerged as the superpower. This country has always been in debt, and always will be. We are still the super power so deal with it.

Answer 8

Oh wait rather than cutting all the programs that we have for OUR CITIZEN, how about cut off funding for reconstruction for Iraq and bring our troops home? This war has cost us more than 3 trillions with no progress at all.
Im a genius

Answer 9

cut off welfare , social security, and medicaid, and other liberal social programs we would have money to burn
Despite the war in Iraq, defense spending is only a fifth of the budget; so-called entitlement payments to individuals are almost 60 percent -- and rising. In fiscal 2006, the federal government spent almost $2.7 trillion. Social Security ($544 billion), Medicare ($374 billion) and Medicaid ($181 billion) dominated.


I'm a Republican Because...
I BELIEVE the strength of our nation lies with the individual and that each person’s dignity, freedom, ability and responsibility must be honored.
I BELIEVE in equal rights, equal justice and equal opportunity for all, regardless of race, creed, sex, age or disability.
I BELIEVE free enterprise and encouraging individual initiative have brought this nation opportunity, economic growth and prosperity.
I BELIEVE government must practice fiscal responsibility and allow individuals to keep more of the money they earn.
I BELIEVE the proper role of government is to provide for the people only those critical functions that cannot be performed by individuals or private organizations and that the best government is that which governs least.
I BELIEVE the most effective, responsible and responsive government is government closest to the people.
I BELIEVE Americans must retain the principles that have made us strong while developing new and innovative ideas to meet the challenges of changing times.
I BELIEVE Americans value and should preserve our national strength and pride while working to extend peace, freedom and human rights throughout the world.
FINALLY, I believe the Republican Party is the best vehicle for translating these ideals into positive and successful principles of government.

Answer 10

Apparently your ability to analyze a balance sheet is right up there with your spelling ability.....

We have debt because debt is cheaper than equity and central banks are willing to buy our bonds.