The Bush administration's fiscal policy has sent the national debt soaring.
http://www.ctj.org/pdf/debt0907.pdf
How much longer can these reckless policies continue before we have to pony up?
2007-10-30 07:48:16 · 13 answers · asked by loginnametaken 3 in Politics & Government ➔ Other - Politics & Government
"But basically America is in debt to their people. So yea really no point in filing bankruptcy"
Not really, most of our debt is being financed by foreign countries, like Japan and China.
2007-10-30 07:59:49 · update #1
I'd say, pretty darn soon. It looks like we are already so badly in debt it will take aggressive taxing to get the money back again. And the people of the country are stuck footing the a bill for a war they no longer (if ever) wanted.
2007-10-30 09:32:57 · answer #1 · answered by Trish H 2 · 1⤊ 1⤋
i had to do a presentation on this one. Yes it CAN go bankrupt but i doubt america will go bankrupt consider all the money they owe is money that was borrowed from the citizens of the united states so really there is no point in filing bankruptcy.
With a new plan set up by the UN. All debt is SUPPOSEBLY going to be relenquished around 2015 or somewhere along the lines of that.
But basically America is in debt to their people. So yea really no point in filing bankruptcy
wow im 14 and i know this crap :)
2007-10-30 07:54:34 · answer #2 · answered by Anonymous · 2⤊ 3⤋
well, it's all part of the design of the Fed from the get go. they have bought all of your politicians on both sides of the aisle, so that no matter who you vote for, you are still keeping the Fed going.
the idea is to bankrupt america and force her to form a union with canada and mexico to prevent total economic collapse. and they are doing a helluva job, brownie.
the only hope for the country is Ron Paul, from what i've seen. there may other independents that share his views of aboloshing the Fed, but he has the most momentum so far with the right perspective.
2007-10-30 08:14:59 · answer #3 · answered by spillmind 4 · 0⤊ 0⤋
It's hard to say. It will probably occur when foreign countries stop buying our national debt, probably because the value of the dollar has plummeted too low. But for now, the U.S. is an important intermediary in the global economy, so we're safe. But there's no gurantee that it is going to remain that way forever, and we're fools if we believe it will.
2007-10-30 07:52:24 · answer #4 · answered by Bookworm 4 · 6⤊ 0⤋
Dude, larger picture going on here. Bush is nothing more than a Bones-man doing the bidding of corporations becoming more powerful then the people and constitution of the US. Everyone keeps saying Bush has so much incompetency, but when you really look at it, they (neocons / fascists) have gotten everything they wanted to make the executive office very power-full and corporations very wealthy.
2007-10-30 07:55:29 · answer #5 · answered by Kelly L 5 · 1⤊ 2⤋
as soon as the divide between rich and poor gets so big that the poor want a revolution. That'll be about the time the rich pack up and leave. Isn't it obvious thats whats going to happen?
2007-10-30 07:56:50 · answer #6 · answered by Hans B 5 · 2⤊ 0⤋
We already are, and to go with our financial bunkruptcy, we are also culturally and morally bankrupt as well. Notice the garbage coming out of your TV set lately? That crap that passes for "entertainment"?
Are there no true artists any more?
2007-10-30 08:09:32 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Other countries owe the US money too so if they collect and we collect back then we become richest nation on earth.
2007-10-30 08:16:12 · answer #8 · answered by Adeptus Astartes 5 · 0⤊ 1⤋
Very soon, unless Ron Paul, Kucinich, or another peace lover is elected president.
2007-10-30 07:57:31 · answer #9 · answered by Avner Eliyahu R 6 · 2⤊ 1⤋
never. when hasn't the country been in debt?
2007-10-30 13:32:58 · answer #10 · answered by Mon-chu' 7 · 0⤊ 1⤋