US National Debt...

[MeEsH BaKkA]

Perhaps the US forces redeployment to the pacific plans and women allowed to fight in frontline units is making more sense, I wonder when women will have to sign the draft....

 

[shine]

Ironically most of the debt is actually owned by the US Federal Reserve. China & Japan (I think?) are the second largest holders.

That sounds right, China and Japan are the largest foreign holders of US debt. I think about 45% is held by the Fed and other US government institutions.

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

 

[Notorious]

boycott them, buy britvic (tango), virgin coke ect, rip degenerate yanks off on ebay. rof lol's

 

[trigger-happy]

It will stop when they stop pointless wars and reduce their military presence globally, they spend way too much money on the upkeep of their bases world wide along with other crazy military projects.

 

[Clipsey]

The clock says US citizen natural debt $52k.........mine is waaaaaay more than that

 

[Fourstar]

To pay off a $1tn deficit every year, that's $3,333 dollars extra donations every individual has to make to the state. Quite a lot.

It's worse than that. Every individual now has $3,333 less to spend each year which means GDP goes down by at least a trillion or 6.7%, pushing the US back into a significant recession.

I'm no economist but if person A pays person B £3,333 for something then person B pays $3,333 to person C and so on if you have ten of those transactions a year the initial $3,333 would actually translate into $33,330 of GDP?

 

[TheOtherOption]

It really is amazing how much they spend on "defense" ... if that were to be cut they could make good inroads into cutting the debts or at least slowing the rate of accumulation.

But I guess now they've gotten into a cycle of spending to keep the economy going if they stop spending as much (like on big military contracts) then it'll hit people hard at the end of the day - a nasty spiral they've got themselves into!

Would love to see just a fraction of that defense budget go into NASA's accounts ... think of the advances in space travel they could make

 

[Anox]

It's odd to think that a country that has so much influence on the rest of the world in terms of currency, is now so deep in the silage tank with debt.