rightwinger
Award Winning USMB Paid Messageboard Poster
- Aug 4, 2009
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You're about to say she's black.
If we're running at a deficit....if we're borrowing money from China and Japan to pay for our debt then we're broke. It's just a matter of time till it catches up to us.
What happens when they stop lending us money? Well...they already have. Now they're monitizing the debt by printing money. $600 billion announced this month. Here comes inflation.
They have to raise the debt limit to $15 trillion soon.
The only way out of it is to cut spending and raise taxes.
The US is the wealthiest nation on earth. We have the largest economy (GDP) by a factor of three
Being in debt, does not mean you are broke. I have over $100,000 in personal debt, so do many homeowning Americans....it does not mean we are broke
How much money do you owe compared to how much you have on hand?
If you owe more then you have then you're in debt.
If you are in debt and you can't borrow anymore from other countries guess how much you're worth?
We are also the only country in the world that allows foreigners to buy our land. So who really owns the United States?
The net worth of my home exceeds the amount of debt
Just like the net worth of the US and its assets exceed its debt
The US Government already owns almost 30% of the land in the country. Quite an asset