2007-07-26 15:52:07 · 14 answers · asked by Chi Guy 5 in Politics & Government ➔ Politics
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2007-07-26 15:55:24 · answer #1 · answered by Anonymous · 3⤊ 2⤋
they are silent because 90% of the worlds economy is in the trading of currency futures. 10% is in the trading of real good s in which the continent of africa has a 70% stake. So, the debt adds to the FOREX which is the always running economic engine which makes money from the sales of money and americas debt is used by china and other nations to add to their value. It is a slick economic scenario the united states has though its weaknesses are many and dangerous. And that is why the neo cons say nothing about the debt., to mention it is to asks why the united states ,with the worlds biggest economy needs to acquire so much overseas money, which brings people to the fact that businesses have been allowed to run free which is a tenet of conservative political economics. the market is always right and will do the best. the problem is , the capitalistic market today is showing its dark side all over the world really.
The funny thing about the debt is that the nations that america owes are in their own economic crisis. japan is defended by the united states, without americas protection japan would be militaristically overrun by china, them and taiwan. And china requires america to exist so that their is somebody to sell to. without buyers who would china sell to and if china has no one to sell to their economy would collapse.
so, while i think the debt is a problem the open secret is that the debt is to nations that really have their own realities that make asking for the money impossible at the moment.
2007-07-26 23:01:51 · answer #2 · answered by Monsignor Klaatu 2 · 1⤊ 1⤋
Okay, so why do Liberals yell about the debt and ignore the Dow?
Fact is that both are talking about the exact same thing, "Keynesian Economics". Under Keynes, the debt is okay if the economy is strong and there's some inflation. Of course, under Keynes, if the economy isn't strong, it's okay for government to go into debt to promote it anyway.
Either way, long term investors get screwed, because of inflation and capital gains tax.
Say you invested 30,000 in 1972, which was roughly the price of 100,000 gallons of gasoline, and that grew to 350,000 in 2007, which is also the price of 100,000 gallons of gasoline. Have you really made any money? I think not, but the IRS thinks you made 320,000, and you will be paying taxes on it. Probably around 80,000, or about the price of 22,000 gallons of gasoline. (the math also works with milk or bread or the cost of a 2 bedroom house, which have all grown at about the same rate over time).
If you think that's just fine, go ahead and keep voting Democrat and Republican.
http://www.lp.org
2007-07-26 23:05:16 · answer #3 · answered by open4one 7 · 1⤊ 2⤋
Well, I'm not a neocon and I have to balance my own checkbook... so I'm afraid I can't give you a good answer. But there is an interesting article I saw today that I wanted to pass along...
"News flash: The American economy is a hyperreality engineered by Ph.D.s working hand-in-hand with colluding media multinationals, political officials and some of the biggest names in business - and the banks that invest in them. In other news, greed is still good."
2007-07-26 23:28:17 · answer #4 · answered by sagacious_ness 7 · 0⤊ 1⤋
Because they are making big money of the Dow but have no intention of helping to pay back the debt. That is why off-shore tax shelters were invented.
2007-07-26 23:00:39 · answer #5 · answered by Sageandscholar 7 · 2⤊ 1⤋
Probally the same reason the Democrats were silent about the yearly record debt,
That Democratic Congress's passed from 1945 to 1994 when they controlled Congress and passed all the budgets.
A Democratic Congress has never passed a balanced budget in American history.
Not once, ever !!!!!!
People tend to forget, it was a Republican Congress that passed to semi balanced budget during the Clinton years.
The budget battles between Clinton and the republican congress, were over clinton wanting to spend more than the republicans wanted to.
But im sure the Republicans in congress would be happy to cut social programs to balance the budget.
Are you up for it ?
2007-07-26 23:05:00 · answer #6 · answered by jeeper_peeper321 7 · 1⤊ 3⤋
Chi the debt doesn't mean anything. 1 year of the unconstitutional federal income tax pays it. Stop paying on the FRB interest and you pay the debt. Or don't pay them back at all, our FICO score will rebound by the next President and China will be bankrupt in about 10 years anyway.
2007-07-26 23:06:57 · answer #7 · answered by Anonymous · 1⤊ 2⤋
Why are all of your question complete partisan bickering? You aren't asking questions to get answers. You just put up these dumb questions to show off your liberalism. By the way which neo cons are you referring to?
2007-07-26 23:26:00 · answer #8 · answered by - 6 · 1⤊ 1⤋
Because they buy the crap* they're sold about debt and interest actually being good. Any justification for a self centered greedocon to get a tax cut. Ridiculous - but there it is.
*see below.
2007-07-26 22:56:40 · answer #9 · answered by Anonymous · 2⤊ 2⤋
Because the national debt is nothing about which to be concerned. In historical terms, compared to GNP, it isn't that big. If there weren't a war on, there would be a surplus rather than a deficit.
2007-07-26 23:04:37 · answer #10 · answered by Anonymous · 1⤊ 4⤋
Because the debt in dollars is not as important as the amount of debt as a percentage of GDP.
2007-07-26 23:02:15 · answer #11 · answered by ncrawler1 2 · 1⤊ 3⤋