U.S.A B.A.N.K.R.U.P.T

17 TRILLION DOLLARS OF TOTAL DEBT, THIS FIGURE AMOUNTS TO MORE THAN ALL THE CAPITAL ASSETS OF THE USA. YES EVEN WAL-MART AND MICROSOFT CAN"T SAVE THIS DENT!

NOT only that but the current trade deficit with China has grown to amount to the USA owing 650 billion to the communist giant.

Well what does this all mean you ask, well quite frankly the USA can't pay this debt off, leading economists have predicted that the country will be ruined for at least 50 years. Goodbye superpower USA your cofferes are full of borrowed money, anyone who doesn't beleive me ask for relevant sites and I will happily supply, or if I can't be bothered just tap onto trusty google type in USA debt and bingo 200 billion hits.

Please just provide one link to the 17 trillion amount.

Last I heard it was around 1.7 trillion?

It is 1.7 Trillion.

17 Trillion would mean that the USA would be in a depression already.

mwhodges.home.att.net...

my mistake its 40 trillion and this guy has the stats to back it read the website ahahhahaha 40 trillion.

By the way the only reason thew USA isn't in a depression is because countries like China don't care about calling in the debt as long as they can trade with them successfully when that goes so does the usa

read it and weep

by the way guys it TOTAL DEBT 1.7 might be the debt owed by the government, in terms of everything its 40 trillion

I think the misunderstanding comes from how the definitions of the terms
'billion' and 'trillion' are defined in the US and other parts of the world.

It has always lead to confusion.

www.jimloy.com...

umm no it's used properly fitted to the scientific system its 40 trillion mate, as if the largest economy in the world would opnly have 40 billion, Australia has more debt than that...

it really depends a LOT on which source you pick. here's a few:

The debt game
When politicians (of both parties) talk about the debt, they don't like talking about $8 trillion, so they add up all the funds, as shown above, and talk about the "debt held by the public." They call this the "national debt," and they call its yearly increase the "deficit."

But this way of talking makes it sound like the money put into Social Security and into government and military pensions funds, all of which is borrowed by the General Fund (AKA federal funds) is not owed to the public. But it is. That money came from everyone's paychecks (FICA) and is owed to them in retirement. Every president has promised to keep that money safe. So, really, the whole $8 trillion is owed to the public.

In fact, over $2 trillion of what they call "held by the public" is actually held by foreign interests, while 100% of what is owed to Social Security is owed to Americans.

How did the General Fund (gross national debt) end up $8 trillion in the hole? Tax cuts and spending increases--largely military spending increase, plus there is a little debt left over from WWII. Check when and how did the national debet accumulate?

The big red number is the "Gross National Debt," and the small red number is the "debt held by the public" -- as if borrowing $2 trillion form the Social Security Trust Fund was not borrowing from the public. The small number is the one politicians usually talk about.

$ 8,273,374,089,177

$ 4,779,326,016,889

zfacts.com...

$8,269,810,009,875.79l

www.uwsa.com...

The Debt To the Penny

03/10/2006 $8,270,763,143,272.32

www.publicdebt.treas.gov...

he he he, check THIS guy out. he must work for citigroup:

Debt is the wrong enemy. Americans should welcome the growth-enhancing lower tax rates enabled by prudent borrowing. Unfortunately, growth --our forgotten friend -- never seems to come up in the debate. Let's change that. Let's get the national debate off the deficit/debt sidetrack, and onto the right track: economic growth.

web2.airmail.net...

The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire. (Related graphic: U.S. economy threatened by aging of America)

www.usatoday.com...

i think diferent people see this in different ways. i think we all have an idea what would happen if we could run up our credit cards till they burst. it seems that some of these guys think that you can take social security right off the top of the national debt. this is nuts. usually they call that robbing the penion fund and the principals go to jail.

rick

the interesting thing is the 53 trillion dollars. this dwarfs any of the other numbers. i take it that this is the money that's been put into social security that is owed to people that retire and that they've already spent. how could a sane person expect to get real numbers for a business, when you include the pensuion fund as if it were real money? then again, the idea that a lot of things they put in our food and our air that makes us sick or die early makes a lot more sense as a cost saving measure.

rick

It seem to me that not the debt, but IQ level is American problem.
Very often the new smart things are innovated not in America.

wow 57 trillion in debt hey?? with the current spending on wars and nuclear weapons by the bush administration, i wouldnt be suprised if it bumped up to 65 trillion by 2007. you can be sure about one thing its gonna take another 50 trillion years before bush realizes he owes some poeple some money and begins to pay it off.

We're in trouble because we forgive everyone else's debts, including Britain's doring the early days of world war two. We take debts from countries all across the world and make it ours. Maybe if other countries would pay up, we wouldn't be in debt!

Originally posted by supergeo
We're in trouble because we forgive everyone else's debts, including Britain's doring the early days of world war two.

- There's no point deluding oneself that it is all everyone else's fault.

I think you'll find that the truth is that the US extracted top dollar for the so-called 'aid' she gave the UK in WW2.

Britain's gold and foreign currency reserves were cleaned out and vast amounts of ex-British Empire territory were taken (which was kind of fair enough to begin with, considering it was expected Britain would lose, I suppose).
Then there were the loans which were for decades (IIRC I have recently read the UK has just finished repaying......but seeing as the UK's national debt recently had debt hanging over from the Napoleon wars that seems unlikely to me.).

The US's debt problem is not because of a myth about forgiving debt (especially not the UK's).

The (very very) recent moves to forgive 3rd world debt (moves shared by all the wesstern countries not just the USA) are nothing to do with the US habit of ballooning debt (which has been symptomatic of all of the US right-wing governments of Nixon, Reagan, Bush1 and Bush2).