If the US keeps spending debt money when will it collapse.?

Question

Can we add $500 billion a year to debt for 20 years? Remember we pay huge interest on our national debt.

Answer 1

That is China's plan. It's grand plan is to destroy the U.S..

HOW CHINA IS MAKING THE U.S. GO BROKE:

Trade deficit with China will top $1 trillion a year within 10 years.

China uses a great tarrif system. It is called "currency manipulation". It causes everything from other countries to be automatically expensive. And everything leaving China is automatically cheap. China makes its currency trade at 8 to one dollar. If the currency was not controlled by China, the currency would trade at 2 or 3 to one dollar. It is massive protectionism that causes high-paying job losses in America.

China is doing it to make the U.S. go broke. Communists are trying extremely hard to grow the trade deficit each year even against the advice of China's own bankers. http://graphics.jsonline.com/graphics/bym/img/mar06/CHINA24g.gif

More facts:

1) China controls the value of the Yuan:
"Yuan Climbs to Post-Peg High as China Seeks to Avoid Sanctions "
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahwj5oxjApf4&refer=home

2) A free floating Chinese yuan will decrease our trade deficit. Many of the countries around the world agree.:
"Many of China's trading partners have complained the yuan is undervalued and gives Chinese exports an unfair advantage in global markets. Beijing revalued the yuan by 2.1 per cent against the dollar in July last year but it has since allowed the unit to rise only about 2pc more."http://www.gulf-daily-news.com/Story.asp?Article=155749&Sn=BUSI&IssueID=29179

3) Even a top banker in China says China is regulating its currency. Chinese bankers are concerned that China's economy is "too hot" because they are playing games with the value of the U.S. dollar."Finance Minister Jin Renqing joined the chorus of Chinese bankers, economists and professors saying the government needs a stronger yuan to cool the economy. The country must be ``more proactive and progressive'' in letting the market set the currency's value, he said after a meeting of Asia-Pacific finance ministers on Sept. 8"http://www.bloomberg.com/apps/news?pid=20601109&sid=at2xeuFldpes&refer=home

Answer 2

Funny you should ask this question. The Comptroller General of the United States, David Walker, just presented a report on this topic. He expects that the nation will be bankrupt in 20 to 30 years if we do not cut back on the Entitlement programs.

Entitlement programs are funds that are set down in Federal Law by Congress. These include Social Security, Medicaid and Medicare, and all other payments to citizens. Right now about 35% of the Federal Budget is targeted towards these Entitlements; the rest of the Budget is considered "discretionary", the amounts change from year to year.

In the next decades we will reverse those percentages to 2/3 of the annual Federal Budget paying for the Entitlements as the programs continue to grow in scope and the population ages into the Social Security ages of retirement.

I have attached the link to the report should you want to see it for yourself.

Answer 3

The money technically doesn't exist. The Federal Reserve just makes it out of thin air which puts all real government under their power due to the debt we owe.

Answer 4

It will if nothing is done. Social welfare is sixty percent of the U.S. budget.We need to stop with all of vote buying handouts. The money everyone has payed in has been spent. It takes almost two people to pay for one social security check. Wait until the baby boomers retire. It won't be their for the younger generation.

Answer 5

the is half what it was, and debt spending usually does not hurt the economy. Most economists say that a balanced budget hurts the economy, we are not mercantilists anymore, but I would still like to be debt free, and have a balanced budget.

Answer 6

As far as I'm concerned, we've already collapsed, if not financially, then mentally...this country is only now a hell hole waiting for the final suction to sweep it down into the fiery lakes of sulfur.

Answer 7

This country has always been in debt. Nothing new on this subject. Find some current news to talk about and I might be interested.

Answer 8

One day the Arabs will purchase the US with their oil money. It's the money we paid them for the oil we purchase from them.:-(