Where does the American Government get all it's money? How do they manage not to go bankrupt?
It seems like everyday their President Obama is proposing some new trillion dollar plan. How do they manage to afford it all?
Posts Tagged ‘trillion’
China taking over the u.s? ?
I’ve been hearing people say that the u.s just recently went into another trillion dollars in debt. Mainly with China. How much debt would u have to be in to go bankrupt like the soviet union? Were do we stand at that number, anywhere close? What would then happen
how did the u.s.a. go bankrupt?
i know about the trillion dollar dept, but how did it happen to begin with ?
How did the government spending too much, become a revenue problem?
Taxes will only accomplish so much. Tax the rich 100%, and I guarantee the politicians will just fritter it away on cowboy poetry, bombing the third world, or some such nonsense. The money that GM allegedly paid back, did it go into the debt, or the pork barrel?
It seems quite elementary to me, cut spending. Between Bush and Obama the federal government has expanded geometrically. I would post a link, but then the question will never enter the queue.
Maybe it is time we ended some pointless overseas incursions. We are not there to win anyway.
And maybe Grandma can move into the spare bedroom. Because Social Security is bankrupt.
And how about we quit electing politicians by the amount of pork barrel spending they bring home?
Don’t give me that "Bush did it" hogwash.His first day in the Oval Orifice, the nation was already trillion in debt. That 6 billion budget "surplus" was an illusion.
How can the US not be Bankrupt with a Debt Ceiling of 21 trillion dollars?
In 30 years, the national debt has gone from just under trillion to .3 trillion, and is projected to reach just under trillion by 2016. Congress has passed new debt limits over the years that allow the government to keep running, and is currently preparing to debate whether to raise the ceiling this year.
10 yrs ago would you have believed any of this ?
Bang the ghost of Christmas past hits you over the head with his mumbo jumbo wand and transports you back to Dec of 1998
And there you are — Your mission ? To tell yourself all the things you have to look forward to — Will you believe it or dismiss it all as rubbish ?
Free speech zones pop up in the US some with cages after an attack on US soil that left some wondering if the government was incompetent and others to speculate the government attacked themselves etc etc
Billion of billions have been spent on Iraq – in a war that toppled a dictator and left the US as an occupier — Yes tell yourself 10 yrs ago that the US would occupy some nation in the world —
The big 3 are close to bankrupt and 700 billion was printed to save banks and insurance underwriters – and then another 800 billion but the begging auto sector will not get the 85 billion they asked for
Have you kicked yourself out of the house yet ?
A black President is about to take command of the US
No one in power is going to do anything in the next decade to end illegal crossing of the border – China will sell your kids and pets some poison products and your government won’t be doing much about that either because — China holds most of your 10 trillion dollar national debt
Have you called the men in white coats to take you away yet ?
India and China are real players in the world economy and might be taking the lead away from the US at some point if things don’t change soon —
Ok — now are you in hysterics on the floor of wherever you were in Dec of 1998
Or have you believed yourself or just had your head smashed in by your 1998 self ?
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How many of you succeeded in your mission to tell yourself 10 yrs ago about all the things that have happened in 10 yrs ?
How did it go from "reckless spending" under Bush to "helping the economy" under Obama?
Bush increased the debt by 4.8 trillion in 2,920 days. That’s roughly 1.6 billion every day.
Obama increased the debt by 3.4 trillion in 674 days. That’s roughly 5 billion every day.
And Liberals/Dems say Bush bankrupted the country! HA!
I thought you were done answering my questions Quan!
Where were the "Take Back America" people during Bush's presidency?
All these Republicans are screaming about how they want to take the country back, whatever that means, but they sure weren’t saying this when Bush, arguably America’s greatest failure, was in office and screwing everything up.
Hop on my magical carpet and let’s review the Bush years:
–complete collapse of the economy
–banks going bankrupt, insurance companies going bankrupt, car companies going bankrupt
–unemployment spiraling out of control
–beginning of huge budget deficits
–started wars with the wrong countries
–torturing our enemies and denying them basic rights
–tried to appoint his secretary to the Supreme Court
–could barely speak the English language
–failed Iraqi War policy costs us nearly a trillion dollars and thousands of lives
–passed huge tax cuts but then ran up huge deficits (how exactly does this make him conservative?)
It’s almost painful to think back to those days. It really does hurt to remember that an incompetent and completely clueless person like George W. Bush once occupied the White House.
So, again, where were all these "Take Back America" people when Bush was turing into dust everything he touched?
How high will the debt go within the next 10-20 years?
30 trillion…40 trillion?
Bush added to it plenty and Obama will explode it beyond anything sustainable.
Medicare, Medicaid and Soc. Sec. are all bankrupt so why not have another program bigger than them all?
If you believe the "deficit neutral" garbage I have a bridge to sell you.
HOW GULLIBLE DO YOU HAVE TO BE TO BELIEVE TAXES ARE NOT GOING UP?
The reasons why are obvious.
1) Democrats are in charge-they love to lie (with a warm smile) and tax and spend
2) We will spend 1.5 trillion dollars more this year than we take in.
3) Democrats will never agree to cut spending-they would rather bankrupt the USA-see California and Illinois
4) The financial crisis has caused a huge drop in tax revenue
5) Unemployment may continue to rise for the next 3 years-more people needing insurance and fewer workers to provide the coverage
6) An aging population-more people on social security and fewer workers to pay
7) Obama/Pelosi want Universal healthcare
Cap and trade
You see my point yet. And you can now see what Obama meant by change!
http://www.cnbc.com/id/31775633
9) I forgot to mention, we will be needing a new stimulus package-900 billion was not enough!
tehabwa Your a walking testimony showing why weed shoud remain illigal!
You don't mind Majority Rules for America. Why do you mind Majority Rules for Unions?
I hate Bush. I didn’t want my country bankrupted spending a Trillion dollars on Iraq. But that inflation cut my spending power in half.
But you conservatives liked that war for no reason in Iraq.
My Teacher’s Union GETS THINGS for teachers. That are worth A HECK of a lot more than the dollars a month.
So how come I have to go along with something that SCREWS ME like Iraq, but non union teachers don’t have to go along with the union that gets them job protection, better working conditions, higher pay, better health benefits, better pensions and makes their life better in every way?
Obama ,Bush is equal to a bankrupt third world America.Between them we will owe $ 13trillion how do you feel?
By the end of Obama’s 4year term(hopefully the last term) we will be owing $ 19 Trillion dollars to China, Saudi Arabia etc…
Republicans and Democrats gotta go agree
How long until the USA is bankrupt?
Our debt has gone up to 12 trillion in Obamas first month with no end to spending in site.
I say at 15 trillion, there is no way to ever pay it back and the dollar collapses.
You can’t tax people enough to ever pay it back at that point.
JFK, cut taxes, Reagan cut taxes, GW cut taxes, to recover from recessions, the first and second being the largest cuts.
Obama and company raise taxes and spends.
So my question how long until it happens, not if but when.
Will the USA go bankrupt in the next decade?
We owe close to 10 trillion. We are in a financial crisis. We are in a spending crisis that we will end up borrowing even more. We are projected to lower taxes and give even more tax breaks to ppl who already dont pay taxes. Bottom line, we are going in the hole faster then we can pay them off. Interest alone is over 500 billion every year. National dept is going to exceed over 10+ trillion when Social Sec and Med cost. How are we going to pay for all this?
Oh and this is just the federal debts. We havent even included the states debts.
How Big Does the National Debt Have To Get Before The US Goes Bankrupt?
Right I’m told its 10 trillion dollars. I also the interest on it 80% of the US budget.
can the united states file for bankruptcy and start over? what would happen if it did?
9 trillion in debt… so, what if our nation filed for bankruptcy? how would it disrupt the world economy and what would happen to us?
Since our govt is going bankrupt how about they do advertisements to raise money?
Obama could swig a Coke and smoke a Marlboro before every press conference. The FBI jackets could sell advertising space to Smith & Wesson. And govt cars could sell space for advertisers just like NASCAR. The federal govt could raise billions of dollars by doing ads!
The national debt is almost trillion, Obama wants us to go another $trillion into debt and the recession is deepening. As Obama said, we must take action now.
US Debt and still going up , how can we keep up the spending? Is 0bama trying to bankrupt the country?
,000,000,000,000 for the non-readers that is 13 trillion in debt.
http://www.usdebtclock.org/index.html
The debt clock was updated October 2008, Look at what has been spent since. omg.
http://www.foxnews.com/story/0,2933,434704,00.html
Americans, what would you be willing to give up to save your country?
The federal government is spending more than we can possibly earn or pay back…what would we be willing to forego in order to turn this sinking ship around? Would we be willing to forego social security? Medicare? Medicaid? Healthcare? Government jobs that pay more than civilian jobs? Pensions that bankrupt the very companies that attempt to provide them? Since we are going to lose all of these perks anyway when the nation collapses under the weight of it’s own debt…would we be willing to "voluntarily" start cutting back on what we expect from our government now, before they decide it for us…like many states are having to do now with their budget crisis’s which are forcing them to cut services to the public.
Hard times are coming, which will make the recent recession look like good times…when and how are we going to start cutting back in order to save our nation?
To Krystal…we have never been 107 trillion in debt before, so this is a doomsday situation…each and every American owes 345,000 in debt…and it climbs everyday…just the interest on our debt alone will destroy us…this is as bad as it has ever been or ever will be and it is US who has to fix it.
How many more years of Democrat spending can we go through before they completely bankrupt our country?
http://www.nytimes.com/2010/02/25/business/25obama.html
From the New York Times:
In 2010, federal government spending will be equivalent to 25 percent of overall United States economic output, the highest proportion recorded in American history except for three years during World War II. Likewise, the .8 trillion national debt expected by the end of this year will be the largest compared with the size of the economy since 1948
Great analogy Isaac
Could we be seeing the start of the great depression, likely to hit ‘11 – ‘14?
With subprimes coming to an end (about time), Now it’s time for the Option-arms and Alternative A-papers, which will tack on another trillion or so in write offs for companies which are already tinkering on bankruptcy (even with the bailout)
then in about 2-3 years, we’re going to see the credit crash as those millions of americans who have tens of thousands in credit card debt and other non-mortage loans default, especially if they start to lose jobs / give up as buying power decreases.
Heck, In my ranked MBA program, a vast majority of my fellow students have 10-25k in credit card debts which they just plan on paying off with their "high paying" MBA jobs- which they aren’t getting because everyone has hiring freezes. If these are supposed to be some of the "smart ones" among us, what do you make of the rest?
Although in the financial discussions, there seems to be backlash against the media for saying that the "majority of americans" are in MAJOR debt, as in fact it’s only a "very small percentage" (44%). Now, these articles are literally stating 44% is a small percentage- and that 55% are being very good trying to pay their bills off in time. However, I also read that the majority of bankruptcy’s are people who "do not spend wildly, but are in debt to to other reasons such as loss of jobs or health problems". If the job market turns downwards, buying power decreases, and salaries don’t keep up with inflation would that not suggest that even those who "try" are likely to rack up more debt? and isn’t it likely that this 44% is likely to increase to 50, 55%? In this case we are saying atleast almost 50%, and potentially more than 50% are likely to run into major credit and debt issues?
Then with credit card companies such as American Express already tinkering on bankruptcy, a CC card company going under would only add to the fun.
That in itself could be the next great depression. What do you think?
Now I could be taking this a little far, and I don’t expect anyone to agree with me beyond this, however, I raise yet another question- If over 1/2 of america loses their buying power and credit-worthyness all together, based on what I see in the Government now, I would presume that they would feel the need to step into action, and bailout the individuals- and in this situation, it seems like the only action which they could do is to take control over many aspects of the country, essentially creating an extreme socialist culture overnight.
Although I have my savings spread in Euros, Rupees, and Dollars, the intense globalization occurring as of the last 10 years means that money isn’t safe anywhere. So now I’m thinking maybe I should just rack up 30k in debt since I’ll be in the doghouse with everyone else anyway, and 5-10 years from now we’re all going to be in the same position whether we have 000 in the bank, or -000 in our credit history.