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Sun 1 Oct, 2017 05:55 pm
As America’s national debt continues to increase, will it ever be controlled, or America go banrupt? I don’t see is paying off a debt higher than our GDP in ratio.
The national debt broke over $20 trillion this year and with Trumps plans for military intervention in the Middle East and against North Korea billions more will be spent. That along with paying for all these damages for hurricanes. The healthcare program called CHIP was cancelled this weekend after expiring. With huge pensions, an elderly population hitting Medicare and Medicaid at once, will America’s debt ever be under control?
We already seen Greece and Venezuela collapse from high debts and devalued money (the USD is crashing) so will America have to declare bankruptcy?
@bm1234,
Quote:so will America have to declare bankruptcy?
1234, hell, sure looks like it; soon we'll be in the Bm
Double pun intended
@bm1234,
Quote bm1234:
Quote: (the USD is crashing) so will America have to declare bankruptcy?
Ummm, no the dollar is not crashing at all. A few years ago the Chinese yuan was worth 16¢. Now it's worth about 15¢.
The dollar is up against the British pound and the Euro over a few years ago too. So how is the dollar crashing?
Alarmists.
@Blickers,
That chart shows how far it has dropped in five years, despite going up a little bit recently. AND again...our national debt is going up and up. It's been over a decade since we lost our surplus. This is one of the highest debts we ever had.
The fact you see more states like Connecticut and Illinois collapsing shows this country is doing very bad. My concern: economic collapse. We can't keep spending but it's all we do.
@bm1234,
No, the chart shows how much the dollar has risen against Chinese currency. Note how the Chinese yuan was worth more American money a few years ago (16¢), than it is worth in American money today, (15¢). That is to say, the American dollar is worth MORE against Chinese currency today than a few years ago. The same is true for the next two most important currencies, the euro and the British pound. The dollar is worth more against them now than a few years ago as well. So your whole theory is disproved.
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