“The most unlikely problem of the national debt is that the government will go bankrupt.”
2007-03-13 14:36:56 · 4 answers · asked by lane_saugt_hahn_fur_drogen 1 in Social Science ➔ Economics
It means no matter how badly in debt our government gets us, George Bush and his ilk will still be rich.
2007-03-13 14:41:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The nations purse is not like the purse of a household. For us, if we continue to spend more than we make, we see financial ruin or bankruptcy. This is not the case for a nation, because our government can get more income anytime is chooses by raising taxes. As households our income is limited, but not the governments income because it can tax at will and even print money to pay its bills. Therefore bankruptcy is not a real problem.
2007-03-13 22:08:15 · answer #2 · answered by econgal 5 · 0⤊ 0⤋
I think because as long as the government feels like their spending is justifiable, it doesn't matter how big the debt number is. What we pay out comes from money we make (literally)
2007-03-13 21:50:14 · answer #3 · answered by Cassandra K 2 · 0⤊ 0⤋
I'll explain everything...with my foot up your a,ss.
2007-03-13 21:45:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋