Is it as baffling to others that the United States has the largest national debt in the world?

Question

8 Trillion Dollars- and daily it increases by nearly 2 billion dollars since 2006. So each US citizens' share (out of 301 million citizens even those babies) is nearly $30,000 (if they paid today...) I just find it ridiculous that the national debt is astoundingly high and we complain when third world nations are incapable of paying their debts.

Answer 1

First, it doesn't. Japan now has the largest national debt, even though their economy is 40% the size of the U.S.'s.

Second, all countries have a national debt. Since the U.S. has the largest economy with the largest numbers in every category, the only surprise about debt is that it is NOT number 1 anymore. Do you expect Lichtenstein to have a larger debt than the U.S? A typical rich person has much more debt than a typical poor or middle class person. They have the income to support it.

Third, surely you are aware that nearly 45% of the U.S. national debt is the Social Security trust fund, aren't you? It exists as a necessary result of how Social Security is designed, and Social Security surplus funds are immediately converted into special government bonds (ie, debt). This is why the U.S. debt continued to grow even during the surplus years of 1998-2002, and this certainly accounts for most of the increase in debt last year, this year, and next year. Are you suggesting we just eliminate the social security program?

Answer 2

If I told you I owed $45,000 on my credit cards, would you find that shocking? You should draw zero conclusions here. Without discussing ability to pay, debt is meaningless. Yes we have a high national debt, but our ability to pay is also high. You must keep things in perspective if you are serious about this issue. I, like yourself am concerned, but not driven by political blindness. This isn't the Republican vs. Democrat issue some of you want to make it out to be. I personally wouldn't mind a large debt if it was the American government owing it to the American people. What bothers me is how much of our debt is owed to outsiders. I think this is an issue to discuss also.

Answer 3

If every country paid the US back that owed it money there wouldn't be a national debt. There are still countries that owe us money from WWII. As a world leader it SHOULDN'T surprise you that the debt is so high, because we give more away than other countries can.

Answer 4

I think we could greatly reduce that debt by not helping any other country with anything else. No disaster relief, aide, debts forgiven, military aide, nothing.

(point being...we are also the most generous country in the world)

Answer 5

That's not baffling, what's baffling is how we got into debt in general.. what happened to the surplus when Clinton was in office? I mean really folks, wake up. I don't even lean one way or the other (i.e. republican or democrat) but dang, what the heck?

Answer 6

when gov has no control and acts like it is on drugs-this is what you get. Or as Roy Rodgers said "thank God we do not get all the gov we pay for." But then again he did not belong to a organized political party he was democrat. when both parties spend and regulate/controls-a fascist form of gov, we the people loose.

Answer 7

absolutely true but dont worry its going to catch up with us. You need to read about to whom the debt is owed. They are getting the shaft. Basically most pensions and medicare/Social security will collapse. I am not planning to have a dime of my social security contribution ever to come back to me.

Answer 8

That's the fiscally conservative Republicans for you.They ran the whole show for the past six years and have put this country on the brink of bankrupcy.

Answer 9

Our current president has borrowed more money than all of the 42 preceeding presidents together. That could explain it.

Answer 10

no not really u can kinda uderstand y our country is in so much debt i mean come on