Why are country's allowed to go into debt more then a billion?

America is 14 trillion dollars in debt ( I'll admit I don't know If that the exact number) but it's still high. personally if I was China I would want more then just the interest I would want them to pay my country by the year 2025 or I would stop sending goods to America If this was a drug deal situation and America was a person America would be dead now I'm not saying kill everyone in America because the citizens arnt at fault but the people who are responsible need to pay off the debt were now or need to be exacted by a bronze bull ( for those who don't know what a bronze bull is its a bronze made into the shape of a bull and people are put inside and then the Bulls put over a bon fire and the people inside boil and yes I would love to see the people in our government and the people who own all theses evil corporations like wallmart So why are we allowed to go into so much debt with no cosaquences

PS yes spelling is bad I'm horrible at spelling and grammer but can do advanced math go figure


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Most Helpful Guy

  • In fact there is a legal limit to our national debt. Problem is that every time the debt limit is reached congress raises it.

    The voters seem to prefer this. They re-elected a president who promised freebies over a candidate who promised jobs. The freebies came with a cost. . . a new debt that will probably be over 20 trillion dollars by the time President Freebie is out of office.

    Don't worry, the debt will get settled either by "restructuring" (which is a form of defaulting) or by allowing inflation (which melts away the debt by devaluing our currency). Remember when a bus ride cost 25 cents? A new car cost $2200? So the $15 you make in an hour might buy you a future hamburger.

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What Guys Said 9

  • Wow someone of the younger generation gets it! We are broke with no way of paying back everything we have borrowed. For the reason why we are allowed to do a search of reserve currency. ever country that that has purposed getting away from the dollar seems to have a cue or someone turns up dead

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  • useconomy.about.com/.../...he-US-Debt-to-China.htm
    this is a really good explanation about how countries go into debt and why they can't just call all that money back in.

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  • China can't just completely stop exporting goods to America... they'll fuck their own economy that way.

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  • because debt can be raised. the other problem is the fact that countries run under separate entity banks and basically eliminates a zero sum game. meaning that the money doesn't balance out to where while 1 country runs a deficit while another runs a surplus. also, a lot of the big money we have is tied up overseas as well so we can't capitalize on taxes and assets. it's a bit more complicated than that and i or someone else can explain, but i'll leave it at that.

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  • We have a $17 trillion GDP. That's our income as a nation. Proposing a billion dollar limit on debt is like telling a person with a $100,000 yearly income that they can only have $5 of total debt, when in reality most of them will carry two to three times their yearly income in mortgage debt alone, not to mention car loans and credit card debt.

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  • because if china tried to collect the debt and america said no wait it would start a war and guess what? we wouldn't have to pay the debt. besides every country is in debt plus cutting off trade with america is stupid for china we buy most of their stuff

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  • because the economy is such that it's current structure depends on us... for now

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  • So, you want some sort of one-world government? No, thanks.

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    • Rather have no government and people take care of there own

  • The national debt is more complicated than a personal debt. It's basically a way of indenturing the population to the future and to the interests of the very wealthy. Paying it down would not be a bad thing but it's only a serious matter for a small country.

    The USA is like a big borrower. When you owe the bank a million they have you by the balls, when you owe them a a trillion you have them by the balls.

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