27 replies to this topic

[Waser Lave]

http://news.bbc.co.u...ess/7660409.stm

The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.

The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.

The board was erected to highlight the $2.7 trillion level of debt in 1989.

The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.

Truly a sign of the times...

[Vegas]

Doent pretty much every country have debt? So it works out.

[Waser Lave]

Doent pretty much every country have debt? So it works out.

Not to anywhere near the same level as America (or Amerikkka as Simon says).

And there are actually quite a few countries with a positive account balance.

[Sida]

Yeah, not only do america have the worst debt in the country, but they amount they owe increases much faster than any other country. America should be a third world country x.x

[hungryhippo]

*waits for this topic to degenerate into a bitter economic argument*

[Amagius]

Yeah, not only do america have the worst debt in the country, but they amount they owe increases much faster than any other country. America should be a third world country x.x

Don't you know economics? You have recessions and expansions... We're just in our recession phase! Everything is in it's right place.
Fitter. Happier. More productive. Comfortable. On Sundays, ring road supermarket. Fond, but not in love. Still kisses with saliva. A pig in a cage on antibiotics.

(Also, America may have the worst debt in the world.)

[Waser Lave]

Yeah, not only do america have the worst debt in the country, but they amount they owe increases much faster than any other country. America should be a third world country x.x

The problem is that their debt actually gives them power over other countries...they owe so much that they effectively hold other countries to ransom because they can't afford for America not to pay it back.

[Melchoire]

Doent pretty much every country have debt? So it works out.

Not to the same level as America. Plus having a central banking system with regulations that haven't changed in over 90 years makes it worse. (correct me if I'm wrong, I'm not a yank)

[Abby]

The real problem with our debt is first off banks giving people that make $30,000 a year a loan for a $250,000 home then in return the person walks because they cannot afford the payments. Another thing is we spend over a trillion dollars for war we bomb the crap out of them then pay to rebuild their crappy country. We don't rebuild our country or help our americans that are in debt we just throw money at other countries then tax the crap out of ourselves putting us further and further into debt. Thank you so much George Bush!

[Alex]

Then there's unfunded liabilities like social security, which add up to another 50 some trillion

[Sida]

Don't you know economics? You have recessions and expansions... We're just in our recession phase! Everything is in it's right place.
Fitter. Happier. More productive. Comfortable. On Sundays, ring road supermarket. Fond, but not in love. Still kisses with saliva. A pig in a cage on antibiotics.

(Also, America may have the worst debt in the world.)

I meant to say world, I have no idea why I said country

The problem is that their debt actually gives them power over other countries...they owe so much that they effectively hold other countries to ransom because they can't afford for America not to pay it back.

It's never going to be paid back though. The fact they're so far in the -ve, even if they turned things around and made anual profit, to be able to get even close to paying off any of that would be a miracle on their part.

I'm going to organise a world-wide raid on America. We break in, take everything, then split it between everyone. Then they can ask Africa to supply water. It's win-win.

[GamerAsh]

Not good at all. We all depend on America.

[33724]

Thank you so much George Bush!

Not exactly different than any other Republican....just another puppet.

When first Bush was in office....War + Taxes = Larger national debt

Clinton in office = largerst economic expansion in 50 yrs.....

W. back in office = War + recession......

[Charmender]

by the looks of that debt, america depends on us

[Amagius]

Not exactly different than any other Republican....just another puppet.

When first Bush was in office....War + Taxes = Larger national debt

Clinton in office = largerst economic expansion in 50 yrs.....

W. back in office = War + recession......

It takes many years for the repercussions of economic policy to be visible--the prosperity enjoyed during the Clinton Administration was simply the aftershock of Regeanomics. One thing or another has consistently gotten shittier during Republican administrations for the past fifty years, not by their own failures, but because... I'm done with this one.

[redlion]

by the looks of that debt, america depends on us

Not really... weren't you reading? We hold people over the barrel because they can't afford for us to NOT pay them back. We still hold the cards. Still, at some point, someone is going to refuse to accept a rain check, and the US will be completely fucked.

It takes many years for the repercussions of economic policy to be visible--the prosperity enjoyed during the Clinton Administration was simply the aftershock of Regeanomics. One thing or another has consistently gotten shittier during Republican administrations for the past fifty years, not by their own failures, but because... I'm done with this one.

One charade that is impossible to keep up

[Frizzle]

UK is stil too in debt so I refuse to look down on a country in my own situation.

[redlion]

UK is stil too in debt so I refuse to look down on a country in my own situation.

Most western countries are. We actually have a lower debt to GDP ratio than many countries, including Japan, Italy, Israel, Norway and Egypt. Feasibly, with a budget surplus, we could eliminate our public debt in less time than many countries. Effectively, this is why national debt will not be an issue in international politics.

[pyke]

Not really... weren't you reading? We hold people over the barrel because they can't afford for us to NOT pay them back. We still hold the cards. Still, at some point, someone is going to refuse to accept a rain check, and the US will be completely fucked.

What are they going to do about it though?

[redlion]

What are they going to do about it though?

Who?

[Sida]

Who?

I'm guessing the 'someone' you mentioned in the other post.

[Jakerz]

That's pretty bad lol..

[magda11us]

I love it how people try to make it as if the debt is nothing bad. No wonder USA keeps going down the hill, because people are so in denial.

[nox]

What are they going to do about it though?

they will stop buying the debt

[redlion]

they will stop buying the debt

Which is actually more important than giving loans to the US government. Right now china is buying up all sorts of American debt so when we make a recovery they'll own shitloads of the profits when the dollar goes back up.