Are any of you as concerned as I am about the rising U.S. debt?

Question

Right now, the U.S.' debt to creditors is over 9 trillion dollars, and rising at the level of over one-quarter trillion every year. Since we make no effort to pay down the debt, nor do the politicians seem to care anymore about balancing the budget, Congress must allocate, as one of our two largest expenditures (defense is the other) roughly one-half trillion dollars per year of paying off the interest of the debt (roughly 25% of this goes to foreigners). As long as we continue to run deficits, the amount paid for interest on the debt will only increase. Neither the democrats nor republicans seem to be terribly interested in this issue anymore, because the mantra seems to be to keep taxes low and spending high. Dick Cheney has actually said that deficits and the debt don't matter.

Are you concerned about this? Shouldn't our goverment at least try much harder to balance the budget, and then to try to pay down the debt?

Answer 1

That $9 trillion is just the government debt alone.

Individual Americans have run up another $2-3 trillion in mortgages, loans, credit cards, etc.

The world is getting very nervous that the US (in it's entirety) is completely overextended with no way to pay it off.

Our only saving grace is that a lot of foreign banks purchased a lot of this debt and will fall with us, if they dare to demand payment.

It has me very concerned and Americans need to be urged to pay off debt and start saving money. Instead of shopping at the mall (GWB) with a credit card, after a major disaster.

Answer 2

Like all the great empires through out history .When greed and corruption by the elite in controll at the expense of the people they have fallen .Our country is no differant .It was prosperity for all the people that made this country the greatest nation on earth .With patriotism that was unequaled .One third of the money we spend in Iraq can not be accounted for .300,000 small arms were stolen in Iraq .How can any one win a war when you have 2 weapons stolen from you ,for every soldier you have in it .How does some one steal 300,000 weapons and no one see them .The govt has out sourced the job market over seas ,sold our port system to other countries. Made felons of 1/3 of the people to rob and imprison them to do slave labor for govt profit .Destroyed labor unions and any programs to benifit the middle class workers .Many people who have jobs in the middle class have taken reductions in wages and benifits to keep them. Robbed social security benifit funds Americans have paid into all their lives ,and should have a large excess of money ,so our elderly now are far below poverty statis and cant pay for food and utilities or health care .Stolen constitutional natural rights from the people then granted them back as privelages granted from govt to use as a tool to victimize and rob the people .Constantly increasing taxes on the lower and middle class of citizens to the point some people now pay more than 50 percent of their wages in taxes .The most destructive element to effect the peoples lives on top of all these other crimes against the people. Is the value of the American currency which was always at the top of world currency values has droppped to unprecidented levels . The future of our country would seem obvious and bleak . Yet the people are so niaeve they are sleeping into enslavement . Sentencing our children and grandchildren to a life of poverty ,dispair and slavery

Answer 3

Then write your Representative and tell them to cut out the friggin' pork. They spend way too much on little pet projects in their districts and states. A billion here, 700 million there, pretty soon you are talking about some real money, especially when you multiply that by 50 states and a couple of Territories.

Answer 4

For some reason the "conservatives" here lately haven't seemed too conservative with the national debt. Reagan, Bush I & II seemed hell bent on pouring the country into debt.

Hopefully one of those "tax crazy" Democrats will get elected so we can pay off some of the debt.

Answer 5

nicely President Obama needs to end giving the rich human beings tax cuts and start up making them, alongside along with his self pay a similar % tax that each physique else pay because of the fact suitable now they pay a plenty decrease tax fee than something human beings. (its a controversy he's been struggling with congress on) That on my own will help especially. If he's re-elected he will bypass above congress and placed it via... Romney needs to advance taxes on the undesirable/midsection classification human beings and cut back all low earnings classes that help us, sending us interior the worst melancholy we've ever considered. on a similar time as he retains giving tax cuts to the rich who do not even want cuts because of the fact they're so rich and make further money for my area than anybody prepare, yet he would not care because of the fact he's a millionaire him self. that's in basic terms going to wreck us and he already talks approximately barrowing greater money from China.

Answer 6

Don't worry about it, they are making more money as we speak, plus the U.S. dollars is only worth what you believe it is worth, so do you have 9 trillion dollars worth of faith in the U.S.?

Answer 7

Thank goodness we don't have to pay the bill.

Clinton had the US out of debt.

Do the idiots who put Bushy Bush back remember that?
Now who can fix it???

Answer 8

Printing more currency has had and will keep having its obviously intended effect of devaluation.http://forexdirectory.net/chartsfx.html

Answer 9

I'll bet you have no clue what makes up"The National Debt" do you.

Answer 10

its like points on whose line anyways it doesn't matter.