When will the US go broke?
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Thread: When will the US go broke?

  1. #1
    albn
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    Question When will the US go broke?

    I have always wondered something. With the debt we have, which is currently over $7 trillion dollars, we are spending according to http://www.brillig.com/debt_clock/:

    The National Debt has continued to increase an average of
    $1.72 billion per day since September 30, 2003!
    How much debt can we mount before we declare bankruptcy?

    There is even a way you can send money to help pay the debt:

    Please follow these important steps to make a contribution to reduce the debt.
    Make check payable to the "Bureau of the Public Debt"
    In the memo section of the check, make sure you write "Gift to reduce the Debt Held by the Public "
    Mail check to -
    ATTN DEPT G
    BUREAU OF THE PUBLIC DEBT
    P O BOX 2188
    PARKERSBURG, WV 26106-2188
    With the cost of the war, health care and other programs, how can we afford to spend anymore? It feels like we are using a giant credit card and we are going over the limit by a few trillion dollars.

    I am not an accountant, so any light on this would be cool.

  2. #2
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    I'm no accountant either but I have a suspicion that the US is worth more than the $7 trillion that it has in debt. As long as they can pay the bills...
    [glowpurple]I\'d tell you about my paranoia but I think someone else is listening.[/glowpurple]

  3. #3
    Doc d00dz Attackin's Avatar
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    " As long as they can pay the bills..."

    We not they.
    First you listen, then you do, finally you teach.
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  4. #4
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    Come on d00d, don't going throwing semantics at me to teach me a lesson in patriotic responsibility. For starters, for all you know I could be a foreign national which would make the use of "they" extremely appropriate.

    But I'm not. I'm a born and bred US citizen that does not write the checks for my country. When Congress passes a law, I don't say "we" passed a law, I say "they" passed a law. When the US Supreme Court renders a decision, I say "they" rendered the decision. And when the government pays the bills for the debt of the nation, I say "they" pay the bills. Sorry if that offends you. Just remember that those things that offend you only make you weaker.

    But if it makes you feel better, please know that I served in the Air Force for "our" country and believe "our" country has the most to offer of any nation on earth. I just have a "weakness" in that I get offended when people try to teach me a lesson about my patriotic responsibilities.
    [glowpurple]I\'d tell you about my paranoia but I think someone else is listening.[/glowpurple]

  5. #5
    Senior Member DeadAddict's Avatar
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    I believe it would not make a bit of difference on how much your average working person sends to help pay the debt off because the amount increases 1.72 billion per day. but on the other hand if money hungry people like bill gates etc who do have more money then they know what to do with they could make a huge deduction in the amount that is currently showing in the national debt.

  6. #6
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    If they are going to make a huge deduction in what is owed, they are going to want a huge say in what is spent. That's opening a can of worms IMO.
    [glowpurple]I\'d tell you about my paranoia but I think someone else is listening.[/glowpurple]

  7. #7
    Senior Member RoadClosed's Avatar
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    The debt, while significant - in reality is just a small percentage of the national budget. We've only had a balanced budget once or twice in my lifetime. I think it would be sustainable for decades. Not saying I would want that, but I support cleaning the rats out of the garden, on a global scale. Gaia's garden, OUR garden.
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    There is a small mailbox here.

  8. #8
    AO Guinness Monster MURACU's Avatar
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    Roadclosed I take that to include Tiger sharks garden as well. .

    Back on topic If countrys from Africa like Liberia have not gone bankrupt with their national debt I dont think there is much danger of it happening to the USA. At least not for a while.
    \"America is the only country that went from barbarism to decadence without civilization in between.\"
    \"The reason we are so pleased to find other people\'s secrets is that it distracts public attention from our own.\"
    Oscar Wilde(1854-1900)

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