US National Debt...

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I posted this 5 years ago...

http://forums.overclockers.co.uk/showthread.php?t=17850054

The US debt level was approximately $9 Trillion at that point which was scary enough. It has nearly doubled since I posted and at the current rate will hit $22 Trillion in approximately 5 years.

Where does it stop and is there any good that can be found in these figures as I can't find it....

http://www.usdebtclock.org

The deficit between income and expenditure is $1.05 Trillion a year. Just how do you cut that to break even without some enormous sacrifices by the American people? Never mind start paying the debt down. Mind Boggling.
 
I don't think it's as easy as just cutting the deficit, not for a big consumer country like the USA, China are savers and producers and not big consumers, hence why they can loan out so much money. I am surprised they do to be honest, I guess China are going through their own industrial revolution at the moment but I watched some video about how Goldman Sachs are aggressively trying to change the saver mentality of China and turn them into consumers. So while there is money to be borrowed the USA will borrow.
 
It will never stop as, as with all political systems, politicians have ceased to serve the people they represent. They are instead focused on self aggrandisement, power and money.

In America, the UK and most other "healthy" democracies we are in crippled or deadlocked systems where politicians won't make the decisions that are needed because they are unpopular. This means to help people they will put themselves at risk and they are not willing to do so.

From reading the Economist and related press this is the third time iirc that the debt ceiling has been raised and poor compromises have been put in place to avoid making a real decision.

Democracy has it good points but decisiveness, decision making and the common good of people are not among them. We'll get more and more Greeces as time goes by.
 
No1newts said:
It will never stop as, as with all political systems, politicians have ceased to serve the people they represent. They are instead focused on self aggrandisement, power and money.

In America, the UK and most other "healthy" democracies we are in crippled or deadlocked systems where politicians won't make the decisions that are needed because they are unpopular. This means to help people they will put themselves at risk and they are not willing to do so.

From reading the Economist and related press this is the third time iirc that the debt ceiling has been raised and poor compromises have been put in place to avoid making a real decision.

Democracy has it good points but decisiveness, decision making and the common good of people are not among them. We'll get more and more Greeces as time goes by.
Click to expand...

A pretty bleak future then for innovation with less and less money available.
 
According to this figures the US is paying out more in interest payments on debt than pensions! :eek:

Time to cut the defence budget!
 
Craterloads said:
Surely China doesnt own all that dept?
Click to expand...

No, but they are the single biggest holder by quite some way

Crazy high figures, but I think of America does OK next quarter, it should see some good growth in the next few years.

China and India are becoming more expensive at a phenomenal rate, whilst UK/US wages have been more or lessee flat. The reason to do business in China is changing rapidly from low production costs to simply being closer to your main market.
Purchasing parity isn't too far away
 
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