Once President Bush is done serving his term, you think that USA could easily pay China or other countries we owe them back....we (USA) are in 7-9 Trillon Dollars Debt...
I believe things would have been good if there wasnt War in Iraq....cause we are spending a little over a billion a month...
2007-08-16 07:27:25 · 16 answers · asked by Anonymous in Politics & Government ➔ Politics
I don't think you need to look much further than the pork being spend on both sides of the isle in congress to see where the problem is. It's time for term limits!
2007-08-16 07:35:01 · answer #1 · answered by Bill G 6 · 3⤊ 3⤋
Actually our debt is increasing at the rate of $1.46 billion A DAY! Remember, we have to pay interest on the $9 trillion we owe (it's just a hair under, but just a hair). Currently all taxes collected west of the Mississippi go to paying the interest on our loans. That's right, imagine if half your monthly income paid off nothing but the interest on your credit cards! Right now every man, woman, and child in America owes a foreign country approximately $30,000. The sad and sorry truth is that we need to quit spending so much. If this truly worries you then don't vote for the democrats who want to send spending through the roof with more welfare, more social programs, and universal healthcare. Don't vote for the republicans who want to continue waging a useless, expensive war paid for with credit. Vote for the party of TRUE fiscal conservation: the Libertarians.
2007-08-16 07:48:47 · answer #2 · answered by Bigsky_52 6 · 1⤊ 1⤋
Ignoramuses continue to fret over the national debt, but are totally unconcerned about the fraudulent Federal Reserve System that is instumental in creating that debt, or the Marxist income tax in a supposedly capitalist country.
2007-08-16 08:25:12 · answer #3 · answered by freedom_vs_slavery 3 · 2⤊ 0⤋
unfortunately its not bush or any other president that's to blame its decades of overspending
people like to say it was balanced under Clinton but he just changed the accounting procedures
its both parties fault , they wont curb the overspending
this is the first war where we didn't cut back on the social spending to help pay for the war, and to further hurt the situation we had a tax cut in the beginning of the war
we are headed for a major collapse of our banking system
true reform is needed now and the only one willing to face the problems head on is
Ron Paul 08'
the only wasted vote is for the status quo
vote libertarian
2007-08-16 07:40:30 · answer #4 · answered by Anonymous · 2⤊ 0⤋
The majority of the national debt is not owned by other countries.
It is owned by the Federal Government or the American people. 77% of it to be exact.
Foreign ownership or external debt, has only increased about 300 billion dince 2001.
0.5 trillion in 1992
1.8 trillion in 2000
2.1 trillion in 2007
The largest increase in Foreign debt occured under clinton.
2007-08-16 07:57:16 · answer #5 · answered by jeeper_peeper321 7 · 1⤊ 0⤋
The national debt has been around since before WWII. It continues to get bigger because Conrgress...repeat Congress...spends more money than the government takes in, in taxes.
2007-08-16 07:42:51 · answer #6 · answered by regerugged 7 · 1⤊ 0⤋
The war in Iraq has nothing to do with our trade gap in China.
2007-08-16 07:36:56 · answer #7 · answered by - 6 · 0⤊ 0⤋
Yes, we are trillions in debt due to the utter stupidity and incompetence of the failed leader currently in charge of our troubled country. Has this man done even One good thing in the past 6 &1/2 years?
2007-08-16 07:39:26 · answer #8 · answered by Anonymous · 2⤊ 2⤋
We aren't even in a recession at this point so I'm not to worried about it. Now if we could get back all the money owed to our country we'd never be in debt again.
2007-08-16 07:44:21 · answer #9 · answered by Brianne 7 · 0⤊ 2⤋
Bush is evil, but so is the rest of Congress. They keep approving his budgets. China will use the debt to crush our economy.
2007-08-16 07:43:01 · answer #10 · answered by Big Momma Carnivore 5 · 2⤊ 1⤋
Funny. This is how FDR set up our gvmt.
Think Bush put us in debt? Wait to you see how much the next president drives us in debt.
Reagen put us deeper in debt than Carter
Clinton put us deeper in debt than Reagan
Bush put us deeper in debt than Clinton.
This is just the way gvmt works.
2007-08-16 07:38:08 · answer #11 · answered by Dr Jello 7 · 3⤊ 0⤋