by 
Wisdom
ANSWERS: 14
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I'm onto you now. The debt, as you doubtless know, is held at the international bank, and they charge great sums of money in interest to those who can pay, and smaller sums for those who can't. They then give this money to groups like the Illuminati, who are intent on taking over the world for their nefarious aims. The rest of the world just gets on with life.
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I am not qualified to say anything except explain my limited understanding, and I thought the national debt increases when the federal government sells more US Treasury bonds and securities. The people who have been buying them are foreign governments (China is a big one), and both American and foreign banks. Other countries do the same, or they monetize the debt (print money). So that's how debt gets created. Now that the borrowing governements have their cash, for the US governement at least, they distribute it to central banks or Federal Reserve member banks I think, where they can go ahead and make more loans. The US government also spends a lot of it in entitlements (Medicaid, Medicare, Social Security, etc). So businesses and citizens borrow money from the banks and make the business world spin and the economy healthy with their spending. Some of that comes back to the government in taxes, but not nearly enough to pay the treasury's debts, so they go into more debt. Please correct me if I'm wrong on any of those points.
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We know Ed McMann didn't take it:)
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It's a phony number. Like when United Airlines claims to lose one million dollars and hour, 24 hours a day, 365 days a year. If that was the case, then how could they afford to pay their employees and suppliers? All companies and countries could both be in debt and have a surplus, just depends on how what you want the math to show.
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The people in the commercials where people eat $5 ate it. (It's either for Subway or Quizno's, not sure.)
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iPods
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into middle eastern oil barons pockets
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I blame rap lyrics.
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Nations can't be in debt, since all the people don't have a shared "account". It's only an indirect notion steming from the fact that governments take money from the taxpayers. . Government and private institutions/companies/organisations and people can be in debt. http://en.wikipedia.org/wiki/Government_debt . Besides You don't have to actually HAVE the money to borrow it. Otherwise there would be no purpose in borrowing in the first place, if You had to have the money on You all the time. What is important is that, when the time comes to return the debt, You are able to do so... or else You're in trouble. You might lose property and finally go to jail. The only reason why all this works is because not everyone withdraws the money all the time. That's what the reserves are for. http://en.wikipedia.org/wiki/Reserve_requirement . Money as such has ZERO actual value (besides the value of materials from which it is made which is nearly nothing). http://en.wikipedia.org/wiki/Legal_tender
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In someones pocket
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In the Government/Politicians pockets
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They are not all in debt. China is hugely in credit. But they can be, and usually are, in debt to their citizens, either directly or via pension funds etc. The debts are usually referred to as Government Bonds or Treasury Bonds.
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In bail-outs, bonuses and payouts to the Financial sector. "They're too big to fail".
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good question, but i dont have the answer to that.
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