When will the USA pay off their national depts?

Answer 1

When the national mindset has changed.
If each of us as individuals paid off all of our debt we would be more inclined to do what it takes to have our government do the same. Unfortunately this would most likely cause a collapse of civilization as we know it.

Answer 2

Currently we can barely pay the annual interest accrual in order to keep the principle from increasing geometrically. And then we have an increasing balance of trade deficit with the rest of the world, so I doubt that we have the capability of paying off the national debt. We must work smarter, not give away technology and what we do manufacture, and control federal spending or there is no hope in the future either.

Answer 3

Probably never. If you do some research, you'll learn that many countries owe us huge amounts of dollars for services and goods.

The national debt is something the media and Hollywood harp on to make you afraid & add something else to hate & not trust the government about. But the reality is that most countries owe each other & we've cancelled out other countries debts to make sure they don't go into kaos.

The majority of U.S. debt is owned by the U.S. government, in the form of Treasury securities, to fund Social Security and Medicare.

As for foreign ownership: Japan $644b, China $350, U.K. $239b, OPEC countries $100b

But this is just what we owe. Not is what is owed to us.

In the mid 90's around $50 Billion was forgiven to many 3rd world countries. This doesn't include the hundreds of Billions owed to us from Latin American countries and others such as Egypt & Russia.

If we all called in our debts the world economy would suffer greatly!!!

Answer 4

If Congress is allowed to continuously raise the debt ceiling, which is supposed to be a cap on reality, never. The National Debt has continued to increase an average of
$1.36 billion per day since September 29, 2006 Don't let ANYONE tell you that the national debt does not matter. It's debt and we pay the interest on it. It's just as important as debt is to an individual household budget.

Answer 5

I pray never. Each time we have retired the national debt in the history of our republic that has been quickly followed by economic depression or financial panic. Even dating back to retirement of our debt from the War For American Independence to create the republic.

Answer 6

Congress desires to shrink spending (in genuine words), the President desires the line merchandise veto, and we want a tax coverage (alongside with centred tax cuts) that sell larger boost and wealth creation which will carry approximately greater advantageous tax receipts. while the cost selection replaced into those days balanced for the time of Clinton's time era, it replaced into no longer by his very own doing, it replaced into using prosperous paying quite some capital beneficial factors and earnings taxes on their larger earnings. (are you able to declare "severe tech boost"?) Congress desires to eating ordinary, or we can all go through.

Answer 7

When Arnold Became our president. Didn't you see he paid off $15 billion California debt overnight after he became Governator. He subprime it. Then the rest of story would leave to my grand children and their grand children, who care? by that time I am not gonna be here anymore. Isn't that American GOP all about? ME AND ME FIRST. Enjoy the day you have leave all the problems to whomever.

Answer 8

It would be nice if out leader considered that before they drug us deeper and deeper, Clinton had the deficet (interest on our debt) erased when he was in office, so we actually started paying it off then. People need to consider their children and their childrens children, when you dye that is the only part of you left behind.

Answer 9

National debt is not as terrible a problem as people like to make you believe. I heard it described as akin to people in your on household borrowing money from each other. In fact, the problems that arise from paying it off are much more serious than letting it be.

Answer 10

The members of our national depts get paid every payday.