A million a minute, that's what we owe on the National Debt. It works out to about $30,000 per person....man, woman and child...in the United States, and it is still growing.
Clearly, this situation will end in extreme poverty or bankruptcy for the United States if other countries call in their debts. The National Debt adds up to 9.13 Trillion dollars, and as the interest rates compound, other programs in our country will have to be slashed.
When George Bush took office, the National Debt was 5.2 trillion. When he leaves office, it will top at about $10 trillion. That's $10,000,000,000,000.00.
In 1989, the National Debt was $2.7 trillion. It is estimated that the Iraq War will add $2.4 trillion to these totals. Out of the National Debt money, $4. trillion is owed to the Social Security program. The rest is made up mostly of loans from foreign investors, and our own banks, and other investors.
My question: Is it time to be more frugal and to start cutting down this debt?
2007-12-03 05:33:21 · 6 answers · asked by Me, Too 6 in Politics & Government ➔ Government
The National Debt is not REAL to them.
They're spending somebody else's money - so it doesn't matter.
And YES - it's most definitely the time for American government to "be more frugal!"
Let's start with trimming the disgusting fat off of DEFENSE.
2007-12-03 05:43:01 · answer #1 · answered by Anonymous · 1⤊ 0⤋
While I'd be real keen on the idea of paying off the debt and moving forward in a more fiscally responsible manner, I'm not terribly worried about the Chinese coming knocking at my door demanding I pay a Treasury Note that's come due but wasn't paid by the Federal Government.
2007-12-03 14:09:46 · answer #2 · answered by open4one 7 · 0⤊ 1⤋
OK, lets start by not giving money to people who have entered this country illegally. That is about 1 trillion every 3 years. I would say it is a good start.
2007-12-03 13:38:21 · answer #3 · answered by ken 6 · 3⤊ 2⤋
Yes, but first we have to get rid of the Federal Reserve and the World Bank, and all those other things that the so called elite have used to enslave us! *sm*
http://www.weblo.com/celebrity/Legend/No...
2007-12-03 13:38:45 · answer #4 · answered by LadyZania 7 · 4⤊ 0⤋
I guess I'd better start bringing a bagged lunch.
2007-12-03 13:41:16 · answer #5 · answered by Reverend Black Grape 6 · 0⤊ 2⤋
lol
2007-12-03 13:40:26 · answer #6 · answered by calliepuff 2 · 0⤊ 2⤋