US Debt Clock

[$teve]

It's not even just about the US debt, but the debt load held by countries all around the world. The US is fortunate that you have a bank that can print (so to speak) an endless supply of money. Any perceived risk, people park their money in US govt bonds, driving down yields and the cost of borrowing. If those yields go up then their could well be some sudden major problems. But sparing that outcome, it's the other factors at play that make the current global debt crises very problematic. Unlike post-WWII, where countries could recover with increased productivity and strong manufacturing base, it is no longer there anymore in any meaningful, growth producing, debt lowering way. China, one of the few remaining economies for global growth, is very problematic and trying to manage a soft landing, and experiencing difficulty doing so.

[john boland]

The politicans of yesterday had no idea that modern politicians would deal in such astronomical numbers. Roosevelt through the Land Lease Act financed the Soviet Union with 50 billion dollars for tanks, guns, ammo, unifroms, jeeps, cold weather gear, etc to defeat the Nazis in WW II and take the majority of the casualities in the process. Think about what a global event WW II was to that era and the cost to win it and scale that against todays cost for foreign wars where it may cost 1 billion dollars a day to wage. Roosevelt, Truman, etc may have known what trillions of dollars were but never fathomed the US would one day deal in this realm. In the big scheme of history these times were not really that long ago but most the United States through having an insationable desire to compete in global markets and play world policeman in the last 50+ years now most Americans have come to the sober conclusion we should have tried to take care of our citizens first and foremost and maybe lived with the same values and morals that our grandparents did and maybe this concept of trillions of dollars would still be an abstract number as it was to the politicians of yesterday. This arguement was presented to me by my good friend Dr Grady Brooks.

[Jlutz]

we need a year of jubliee

[$teve]

we need a year of jubliee

That's what the anti-christ will offer, the forgiveness of debt when the house of cards tumbles. :sad

[Mommytoa3rdgradeboy]

I did not read all of the replies, but I googled the 2012 US population, and according to that number, there are 313,250,987 people in the US. I assume that means legally. I would not be opposed to what I'm about to say but I would ONLY do it if we had a finanically responsible government. I realize it's not 'right', but would it not take a big hunk of that debt off if we (the American people) pay, per living individual, $50-$100 say for 2 or 3 years. Like I said, I would do this only if we had a financially responsible gov., and alot of changes would be made to ensure that we never get in that debt situation again!

[cris]

15.356 Trillion and climbing........


15.880

[AprilO]

Does anyone else think that maybe it will be the entire world collapsing financially that will usher in the antichrist???

[cris]

Does anyone else think that maybe it will be the entire world collapsing financially that will usher in the antichrist???


I believe either this financial world collapse, or one of the wars that are waiting on the on deck circle. And, I am anxiously awaiting GOD's perfect timing.

[Godslove]

Hmmm....There was a lecture a few months ago by an econ. professor at UMKC.

According to him we need a much larger deficit - not smaller! The idea that a big deficit needs payed back and is going to hurt us is totally wrong - sort of like believing in the flat earth.

Economics has been corrupted over the years and the world's leaders and their economists are necessarily subversive or ignorant.

Paying off the deficit is very bad for us - and our children/grandchildren.

Deficit spending with high unemployment is not necessarily inflationary.

Balanced budgets always lead to recessions and depressions.

People were listening with their mouths hanging open. Totally opposite of what they were used to hearing from the media.

Check out the UMKC Buckaroo.

[Steve53]

Hmmm....There was a lecture a few months ago by an econ. professor at UMKC.

According to him we need a much larger deficit - not smaller! The idea that a big deficit needs payed back and is going to hurt us is totally wrong - sort of like believing in the flat earth.

Economics has been corrupted over the years and the world's leaders and their economists are necessarily subversive or ignorant.

Paying off the deficit is very bad for us - and our children/grandchildren.

Balanced budgets always lead to recessions and depressions.

People were listening with their mouths hanging open. Totally opposite of what they were used to hearing from the media.

Check out the UMKC Buckaroo.

:faint