How much debt does the country have verses assests or the ability to pay-up! Same question directed at the majority of legal citizen at large.
2007-02-28 06:19:42 · 2 answers · asked by bulabate 6 in Politics & Government ➔ Other - Politics & Government
Nobody wants to mention the citizen's lack of financial security & Huge Red Ink Debt!
2007-02-28 06:35:22 · update #1
Ok, here's an analogy:
in 1999, Sam USA was in the black. He had an older house, but it was in good shape. His aged mother and his kids were being taken care of.
in 2007, Sam is running around begging his creditors to let him have more time to pay out his debt. His house is falling down, his aged mother is sick and confused, and his kids--well, in order to kowtow to his oil buddies, he's put them out "on loan" to fight a war to help the oil buddies. Meanwhile, Sam is sweating bullets because the China Bank down the way is getting impatient with his lack of payments. He's likely to go under any time.
2007-02-28 06:30:31 · answer #1 · answered by KCBA 5 · 1⤊ 0⤋
The defict currently stands at 54% of the GDP. The GDP has grown faster than the deficit so it will actually take less time to pay it off.
2007-02-28 14:24:44 · answer #2 · answered by Jester 3 · 0⤊ 1⤋