The United States Debt

[SiliconJon]

Our debt is how much money we owe, or in other words how much money we have spent that we don't even have.

Originally Posted by Brilling

The National Debt has continued to increase an average of $1.36 billion per day since September 29, 2006!

Dividing our current total debt ($8.992 trillion) by the estimated population of the US (303,054,411) we get a debt of $29,671.93 per person, and GROWING.

US Debt History Chart

Remember that before you ask your government to spend more money without correcting the issue beneath our funding problems first. Don't forget that if you plan on not asking them to stop and yet remain in this country.

Our deficit is the negative income amount for our country. A deficit means we are spending this much more money than we make, or are going in the red by this amount in the defined period of time.

Originally Posted by EPInet

In the second quarter of 2004, the United States posted a current account deficit of $665 billion, or 5.7% of its total GDP, the largest in its history. [...] This position has now reached -24% of the entire U.S. gross domestic product, a deterioration of 14% of GDP since 1997. Financing these obligations has been relatively painless for the past couple of years due to historically low interest rates. But economic policy makers cannot bank on these low rates forever, and within the next decade the economic consequences of rising U.S. external debt obligations will constitute a massive loss by American households of claims to future income generated by the capital stock of the United States. In a nutshell, although the U.S. economy may not be eating its seed-corn, it is financing current consumption by selling away today the claim to income generated by tomorrow’s harvests. This is not a healthy state of affairs.

These two negative economic factors compound one another. If we have a deficit, then we can not make a profit as a country. We are piling debt upon a debt that is already compounding interest.

http://dictionary.reference.com/browse/bankrupt

Most of you are to blame, for many reasons, including following party line instead of ethical, moral, or intelligent lines.

[Gomer]

I'm just gonna keep rolling my portion into credit cards with a low interest teaser rate =)

[SiliconJon]

How much is [anyone here] in debt?

If we divide our national debt up equally you can add $30,xxx to it. And you're still borrowing against it without making payments.

http://www.brillig.com/debt_clock/

[Gomer]

Total debt? Mortgage and the works?

[SiliconJon]

Will you be leaving those debts to your bloodlines after letting them accrue?

Perhaps because your other debts are so high this extra $30k seems petty?

You could reduce the amount of people who can pay - or are currently indebted. Remove children and any other parties that may be unable to currently inherit that debt and you may be able to double that debt for you and I.

[Atomic Rooster]

Originally Posted by SiliconJon

How much is [anyone here] in debt?

I'm in for only $850 or so. A couple of more payments and the Montero Sport will be paid off.

[sharder8]

Originally Posted by Gomer

Total debt? Mortgage and the works?

Less than $1,000 here . . . and that will be paid off by Jan. 1.



Since you brought it up SJ . . . .

Just recently, GWB vetoed the water bill, due to it contained too much pork barrel spending, no limits, and NSF . . . But, the Democrats in power, with the aid of some of the Republicans, voted to over turn the Presidents veto. Take a look at what the President vetoed and our congressmen voted to put back . . .


SAD, SAD, day!

Bitch and complain all you want about GW and the Republicans . . . but the Democrats are just as bad.

Harder

[The Real Bingo]

Who cares, when the U.S. can just print money?!

[SiliconJon]

Originally Posted by sharder8

but the Democrats are just as bad.

Harder

Indeed they are. It's a mad dash to steal from our pockets in order to buy our votes, as most see what they are buying us but don't understand how they're stealing from us.

[johnnycombat]

Originally Posted by sharder8

Less than $1,000 here . . . and that will be paid off by Jan. 1.



Since you brought it up SJ . . . .

Just recently, GWB vetoed the water bill, due to it contained too much pork barrel spending, no limits, and NSF . . . But, the Democrats in power, with the aid of some of the Republicans, voted to over turn the Presidents veto. Take a look at what the President vetoed and our congressmen voted to put back . . .


SAD, SAD, day!

Bitch and complain all you want about GW and the Republicans . . . but the Democrats are just as bad.

Harder

Bad? Sure. Just as bad? I don't know.

http://zfacts.com/p/318.html