Does the deficit really matter to you...I say nope..?

Question

there will always be a deficit of some kind..and whom do we owe this money too..any ways..

Answer 1

through my 45 year of life I have heard claims of really large and no deficit. dooms dayers have said that the government will shut down, blah blah, and yet we are all still here and mostly in debt, to who? I don't know. will they ever collect? how could they?

Answer 2

All you have to do is look at gas prices to see the effect of the deficit.
Govenrment deficit spending increases the amount of money in circulation. This increase amount of money was not generated by the economy therefore is worthless. The effect is that it devalues the money already in circulation, which makes imports like oil cost more.
During the last 6 years or so, the GDP increased about 5 trillion dollars. During the same period, the spending deficit totalled about 7 trillion dollars. Since 2003, the US dollar has lost almost 50% of its value on the international currency market because of the deficit.

I need to correct a poster above who stated your share of the national debt was $30,000. That's wrong. Your individual share of the national debt is $296,000. That is how much every man, woman, and child owes in this country.

Answer 3

The budget deficit is different from the national debt. Continuing deficits contribute to the debt.

Clinton left office with budget surpluses and Bush, using the same accounting methods, has had continuing budget deficits. We should try to bring the budget back in balance. Our taxes go to pay the debt and it will be passed on to future generations.

Answer 4

Cheney's certainty that "Reagan proved deficits do not bear in concepts" exchange into now not a certainty approximately economics or a certainty of what he concept exchange into stable for the country - It exchange right into a certainty approximately politics. What he meant exchange into that Reagan proved that the voters won't punish the social gathering in ability for working vast deficits - and as a effect the Republican base could be rewarded for its help with greater advantageous tax cuts. additionally, bankrupting the government is a element of the Neocon plan to wreck what they call the "welfare state" - this is correct-ordinary by certainty the "starve the beast" recommendations-set. -

Answer 5

It only matters to those intelligent enough to understand the repercussions of out-of-control deficits.

The greater the deficit, the weaker the US dollar. Neo-cons can't see past there nose to realize that a strong US dollar is more valuable than having a larger quantity of "weak" money in ones pocket.

It is better to have 75 "strong" us dollars in ones pocket than 100 US dollars whose buying power is worth 60.

Answer 6

"In Fiscal Year 2006, the U. S. Government spent $406 Billion of your money on interest payments* to the holders of the National Debt. Compare that to NASA at $15 Billion, Education at $61 Billion, and Department of Transportation at $56 Billion"

This is akin to maxing out your credit cards and paying the minimum. You can do it, but you're a fool if you do and you're wasting money.

You can waste your money on a personal level, but when the fools in charge waste OUR money on interest so they can build a "Bridge to nowhere", we should all have a problem with it.

Answer 7

We will always have some, but we should not be creeping up past the trillions.

China holds most of our debt, why do you think the Shrub is so keen to stay on their good side?


Tokoloshimani: Yes I remember that. But after this administration, I doubt I will see another balanced budget anytime soon. So much damage has been done.

Answer 8

It matters. It is pretty abstract, but, were there no deficit (because the government had always spent less money) your taxes would be lower.


"whom do we owe this money too..any ways..?"

China, rich people (both here and abroad), eachother via mutual funds, retirement funds, pension funds, etc...

Answer 9

We had a surplus when Clinton left office. The deficit darn well better matter you'll be paying for it for generations.

Answer 10

it does to me... and I don't think there will always be one...

a large deficit and debt can clearly have very negative effects on a country, as it does on many now, often in Africa...

large debt (relative to GDP) can lower a credit rating making transactions more difficult, just like for a normal person...

granted, ours isn't crazy large, relative to the GDP right now, but to have no concern at all seems a bit silly/scary...