- NEW!
by ACCOUNT CLOSED on February 20th, 2009
Perhaps the empire will feel what all of the African nations being crushed by debts, imposed on them by their colonizers, feel like every day.
"As long as it ain't happening to us, it doesn't matter"
by Old School on February 20th, 2009
All heck would break loose (hyperinflation, etc.) long before that happened.
The current US annual GDP is on the order of $15 trillion.
The current US total debt is on the order of $11 trillion.
Assuming the interest rate on the national debt is about 5%, the debt would have to be about $300 trillion for the interest costs to match GDP.
by Lori K still ignores stalkers and trolls on February 21st, 2009
Yeah, it's scary. I just read on US News and World Report that since the new administration and new congress took office, the deficit has tripled. TRIPLED! I was floored. I had no idea and that's really scary because I try to be informed. That's only 2 months. The news report was on the deficit clock which had to be reset because it suddenly ran out of digits! I don't understand why the media isn't all over this. http://www.brillig.com/debt_clock/ We are approaching the quadrillions
by wildthorn on February 21st, 2009
The U.S. is near the tipping point now.
If we accumulate more debt we are marching to 3rd world status.
Is australia in debt?
by Answerbag Staff on June 30th, 2010
| 1 person likes this
How much of our federal income tax goes to pay national debt?
by Answerbag Staff on June 13th, 2010
| 1 person likes this
When will our country go bankrupt?
by Answerbag Staff on May 7th, 2010
| 1 person likes this
As all our money is fiat money now, does it matter that we owe so much can't we just fudge the figures?
by Ombliss22 on January 3rd, 2012
| 1 person likes this
What is the amount of increase in U.S. national debt in one week as of 2011?
by Tev on September 12th, 2011
| 1 person likes this
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Comments
Don't know, could be!
by Rebelheart on February 20th, 2009