Comments on: USA’s National Debt

By: young_activist

young_activist — Sat, 22 Apr 2006 19:55:33 +0000

I am considering donating a portion of the profit of my blog to help lower the debt, still haven;t figured out how much though.

By: young_activist

young_activist — Sat, 22 Apr 2006 19:53:17 +0000

That’s right, 90% of the debt is held overseas. The debt has actaully already crossed the %10 trillion mark because about $2 trillion of it is hidden in the Social Security surplus. We need to stop the debt now because at the rate we are going every cent of tax revenue will go to paying interest on the debt in the year 2040. That is, in theory at least, the year the bonds lose all value and the economy that is dependent upon them crashes.

By: VirusHead

VirusHead — Sat, 22 Apr 2006 16:26:27 +0000

Well, first off – I don’t make enough off affiliates or contributions even to maintain the domain costs of the site, so it’s kind of moot.

I could put a link, but…

My feeling is that we’re all going to pay it anyway. I would rather look to the causes, and get it back from the ones who have (for the most part) stolen our money and put us into debt to China and others.

By: the daily phosdex

the daily phosdex — Sat, 22 Apr 2006 16:21:41 +0000

I'm not sure if anyone is aware of this, but the Bureau of the Public Debt has a scheme in place to allow the public to make voluntary donations towards reduction of the National Debt held by the American people. Which Your Correspondent has used in connexion with the online shopping facilities on his weblog, and will continue to do so, in case anybody is interested. As well, might I encourage other webmasters to consider donating part of their online-sales commissions to reducing the National Debt.

By: JollyRoger

JollyRoger — Wed, 19 Apr 2006 05:14:21 +0000

I happen to believe that our Beijing bankers will pull the plug the minute they have enough resources to sustain that kind of a blow. The way the Chimperor is spending, China will decide one day that real money is better than the Monopoly money they get from us. And that day has to be coming in the next few years.

By: VirusHead

VirusHead — Tue, 18 Apr 2006 13:52:21 +0000

No, Darkman, it’s not an error at all. It’s why we can’t really say boo to China. The enormous and massively increasing national debt is not an abstract thing. China is the largest of the countries that acts as a creditor. All they have to do is drop it, and we’re fried – with cascading effects that would affect most of the rest of the world.

By: darkman

darkman — Tue, 18 Apr 2006 13:46:28 +0000

China? The USA’s main creditor?

Surely that is a translation error. I would have though China would have been a debtor.