At least in comparison to how worried I should be about ours
I often notice a lot of concern by Americans about their constantly rising levels of debt, so I thought that I would investigate. I have since done a simple hub which shows that America's debt situation really is not that bad (yet).
Although concern about rising debt is understandable, my simple analysis (ok, so it is in laymans terms) shows that you are a long way from bankruptcy yet
I know that I am not supposed to promote hubs, so cant post the URL, but thought that it might be a good discussion point.
Yeah, you definitely are in a position to tell what Americans should or should not do. Thank you, our condescending.
Oh, and btw, L@@K, SPAMMER!
My one bit of spam beats your 8500+ bits. You are the single biggest spammer and fanner on this site.
I know Misha, you seem to be very popular - fair play. Its just my personal opinion, I am not claiming that this is shared by others. I took a dislike to you as a newbie, doesnt need to be justified. I just cannot see what this site as an entity gets out of you, particularly in relation to what you clearly take out of this site.
A lobster about to be boiled alive in a pot probably thinks "Hey, the temperatures rising, but it's not too bad".
Debt is fine if it's for productive purposes that generate income.
Very little of the debt being generated by all the "stimulus packages" around the world is being used for productive purposes that will generate future income.
We are enslaving our children and their children with a mountain of debt. But we'll be OK - hey that's all that matters, dunnit?
I understand exactly what you are saying Eric. I guess that the main concern is whether debt is repaid when GDP rises once more. If you need to borrow $10 from your neighbour, you pay this back on payday
But your damn right about the generation thing, hence the reason I said 'yet'. In fact, as a 24 year old myself, I will be paying for my countries debt for the rest of my life - in taxes, in cut backs in public serves, in one way or another I will be paying for the spending of yesterday.
So yes, I can understand exactly what your saying.
I agreed. Rising debt of America is really a concern for all US citizens. They are in problem and it will rise if people ignore it.
One may read hubs about financial problem of America or economic crisis of America.
I realize that we are not in trouble 'yet.' Speaking only for myself, the biggest problem isn't where we are now, but where the road is leading 10 - 20 years from now. People get use to spending, governments get even more use to it. I don't see then decreasing spending so it simply means a larger tax burden in the future. I would love to be wrong, but I am not planning on holding my breath.
Well that is a carbon copy of the way the UK has become so deeply into debt. At current you have a falling salary (Recession), so you take a bank loan (External Debt), you can either repay this bank loan when your salary increases again (Recovery/Growth), or you can let it sit their and build interest. Which is exactly what the UK did.
A good country to look at as an example of how to operate are Japan, external debt of just 35% of GDP. Considering their past problems, thats pretty good going. Considering they too have used economic stimulas in the past.
You both can be nice guys. Why the fighting? Unless you're fighting over me, I just don't see the point.
Of course over you! Is there any worthier reason to fight?
Its not over you Colebabie, but Im sure that you are well worth fighting over - as I am sure your boyfriend will testify
I'll kick both of your asses if Colebabie is the prize!
Colebabie has left the room.
We've gone off somewhere for a drink, and left you two bull elephants here to slug it out.
There is no fun without Cole, Eric. Not worth the effort.
Maddie will come tomorrow, and decide whether this thread was posted in a good will or not. I am content with her decision.
Referring wa-ay back to the actual title of the thread, I can say with certainty that I am not in the least concerned about our national debt. I am concerned about my personal debt.
In theory, I should actually be able to do something about the latter....
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