Originally posted by AKATheMack
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U.S. debt passes $15 trillion milestone
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Originally posted by MANIAC310 View Postokay we owe $15 Trillion
what now?
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.
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Originally posted by allenloki View PostHigher 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.
Cut Spending
and/or
Raise Taxes
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Originally posted by AKATheMack View PostIts 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.
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!!!!!!
Originally posted by AKATheMack View PostAmericans 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.
On-point ... keeping up with the Jones is the order of the day, even if it costs every penny in the piggy.
Originally posted by MANIAC310 View Postokay we owe $15 Trillion
what now?
Originally posted by allenloki View PostHigher 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.
This country has greedily outsourced to the point where almost everything or at least 70% of the components are produced in foreign lands.
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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.
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Originally posted by F l i c k e r View PostOh 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.
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Originally posted by AKATheMack View PostI 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.)
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