U.S. debt passes $15 trillion milestone

[dough401]

Americans dont have the willpower. We see other people driving nice cars and living in nice houses and to join the ranks all thats needed is to make a deal with the devil. I'd say the current American way of living is unfixable without a total collapse first.

Couldnt agree more but the way its looking right about now we are not thats far away... I talk with a lot of older people and they would tell me stories about the Depression days and how the way most Americans live now a days the could never handle it. Im usually tough because old people always had harder you know uphill both ways in the snow but they have it right on this one young people imo couldnt handle a true depression there isnt enough pills for people to take as it is...

[ƒallenloki]

okay we owe $15 Trillion

what now?

Higher costs of borrowing.

Default.

Bankruptcy.

Sudden and drastic changes in interest rates.

sudden and drastic termination of social welfare programs.

Depression of the likes the world has never seen.

Increased tension with creditors (China specifically)

China buys american companies.

WW3.

We'll see.

[RajahBell]

Higher costs of borrowing.

Default.

Bankruptcy.

Sudden and drastic changes in interest rates.

sudden and drastic termination of social welfare programs.

Depression of the likes the world has never seen.

Increased tension with creditors (China specifically)

China buys american companies.

WW3.

We'll see.

Also:

Cut Spending

and/or

Raise Taxes

[Smokin'J]

Keep taking middle Eastern and African countries, Amurikka it'll help.

[arraamis]

Its funny that Americans are calling for new leaders when the average Americans debt is 4x that of their annual income. Almost every American is bad with money.

Co-Sign!

People in the USA don't care how much debt they have ... Come thanksgiving, christmas, easter, they are breaking out the CC and spending more, even if they're broke. Which is crazy!!!!!!

Americans dont have the willpower. We see other people driving nice cars and living in nice houses and to join the ranks all thats needed is to make a deal with the devil. I'd say the current American way of living is unfixable without a total collapse first.

Co-sign again!!!

On-point ... keeping up with the Jones is the order of the day, even if it costs every penny in the piggy.

okay we owe $15 Trillion

what now?

Collapse!!

Higher costs of borrowing.

Default.

Bankruptcy.

Sudden and drastic changes in interest rates.

sudden and drastic termination of social welfare programs.

Depression of the likes the world has never seen.

Increased tension with creditors (China specifically)

China buys american companies.

WW3.

We'll see.

That looks about right ... I just can't see how the economic downturn can be reversed when the USA is not what it used to be .... a manufacturing nation.

This country has greedily outsourced to the point where almost everything or at least 70% of the components are produced in foreign lands.

[S.J. II]

We are ready to pilfer.

[F l i c k e r]

Oh well. The only way to get out is with Ron Paul's idea. Any other idea of cutting, spending, percentages etc etc. Ain't gonna make a damn of difference.

We'll go out with a bang and take the world with us.

[AKATheMack]

Oh well. The only way to get out is with Ron Paul's idea. Any other idea of cutting, spending, percentages etc etc. Ain't gonna make a damn of difference.

We'll go out with a bang and take the world with us.

I think either end of the spectrum could potentially work better for us. Low taxes/ low benefits everyone for themselves nobody helps anybody else, or high taxes/ high benefits and everyone helps everyone else out. We're stuck in some ridiculous system that wants low taxes/ high benefits with help only being offered to a select few, theres no way that could ever be sustainable.

[Smokin'J]

Murikkans still believing the president makes the choices

[F l i c k e r]

I think either end of the spectrum could potentially work better for us. Low taxes/ low benefits everyone for themselves nobody helps anybody else, or high taxes/ high benefits and everyone helps everyone else out. We're stuck in some ridiculous system that wants low taxes/ high benefits with help only being offered to a select few, theres no way that could ever be sustainable.

None of the other republican candidates seem even slightly competent though.

I have the feeling if any of them get in office. They will continue the trend of pretending everything can be solved by spending more to solve debt issues. Mainly because I feel they will make choices based on how much money they can get for themselves. (ie: sign this bill and get paid x amount of money.)