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Old 03-20-2017, 05:06 AM
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The problem for most people in understanding why debt doesn't affect a country like it would an individual, lies in the fact that public debt...is not the same as yours and my debt.

https://www.nytimes.com/2015/02/09/o...ands-debt.html





Why public debt is not like credit card debt




America Is Not Drowning In Debt - Business Insider




ETC., ETC., ETC.


So in essence, we need to stop trying to relate the national debt (cumulative deficits) or deficits (less taken in than spent yearly)...with what we're most familiar with.

Not to say that the difference is infinite or cannot be broken, but it's not in the way that most of us can relate to... in our own economic situation.
ALL of that is bullsh!t. It's NOT the same because we'll NEVER pay it back? THAT is an explanation? We pay $600,000,000,000m $600 billion a year in interest, we PRINT that money because we don't have it. Your CD pays 1% when it SHOULD pay 6%...why? Because your government can't afford to pay OVER $1 trillion a year in interest payments.

We're getting to the point where we're not going to be able to make the minimum interest payment without borrowing a LOT more. Too much more. We already borrow about 25% of the federal budget...you think borrowing 50% is ok?

It's ALL moot anyway IF the minority majority keeps growing, we'll be 3rd world in 30 years and none of this will matter. There will be nobody left to care or run things...the white people will be gone. Blacks and Hispanics don't care about this stuff. You NEVER hear black or Hispanic people talking about, discussing finance and politics. Because they're NOT us.