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I've heard all that before , thousands of times. The US debt is...

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Skol

33,063 Posts.

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31/03/16

07:19

Post #: 17387524
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Originally posted by IWONDER ↑

Skol, the US is 19 trillion in government debt and debt is increasing at 1 trillion a year; if they could not raise their debt ceiling they could not pay their public service employees or maintain their spending on military, which is 650 billion a year.
Most Americans earn USD30,000 a year and there are 45 million Americans on food stamps, living well below poverty level.
America's total debt with unfunded liabilities is 160 trillion dollars.
The US population is growing by 2.3 million people a year so of course there is some activity in the housing and car sector.
If the USA was a business it would have been closed many years ago, insolvent.
Lucky they can make money out of thin air to survive, at near zero interest rates too.

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I've heard all that before , thousands of times.

The US debt is quite manageable at 75% of GDP, if you want to find a place with unmanageable debt look no further than China at 350% of GDP.

I'm sure that the US Treasury has a grip on the situation and has far greater brains than yours working on their problems.

The US is approaching full unemployment, to buy cars people need money, same with houses.
They've got money because they've got jobs.

When is Australia becoming insolvent, it must be close?

Last edited by Skol: 31/03/16
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