I'll just point out one thing, all these numbers really mean nothing, its the over all GDP% that makes the difference, during the 90's our GDP was higher, meaning the money coming in was greater. No one can get rid of the debt in this country, or any country, no matter who makes promises saying they can, its called a Fiat Currency system, and its a 40 year failure. Federal reserve prints money to loan to the government, the government then takes that money to pay off a debt + interest to a debtor, but then they need more money to pay the bills, so the Federal reserve prints more money, the governement then takes out an IOU (aka government bonds) ...basically the US dollar is only of value as long as the world has confidence in it. If every US debt was to come due at the same time, it would crash the world ecomony, not just the U.S. So the fed reserve could basically just keep printing money, other countries will buy bonds, and the debt will always increase, as it has since WWII, and no one will be able to reverse it.
The only way to reverse it would be to basically have a World Economic crash, or "Reset" and put currency back on the Gold Standard, or something of equal value, so that money would be backed by a finite source. Right now, US currency only has value because the world gives it value, but actually, its not worth the paper its printed on.
Re: The perfect answer
Member #: 53734
Registered: 7/29/2007
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