USA ran out of (other peoples) money yesterday

[Atheist-Lite]

Overlooked key statistic: unlike most of the Euro countries recently bailed out, less than 1/3 of US public debt is held in the hands of other countries.

I'm trying to think where the other 2/3 of the debt is held. Is it in pension funds and the like?

So when America goes belly-up it won't take the entire global economy down like in the thirties.....that's a relief.

[Clinton Huxley]

I know my favourite "news" channel, Russia Today, is very excited about America's debt....

[Atheist-Lite]

I know my favourite "news" channel, Russia Today, is very excited about America's debt....

They've got experience.....trying to walk on water like jesus doesn't work for long.

[Clinton Huxley]

I know my favourite "news" channel, Russia Today, is very excited about America's debt....

They've got experience.....trying to walk on water like jesus doesn't work for long.

Well, dependent upon one's mass and the surface tension of the water and so on.

[Atheist-Lite]

I know my favourite "news" channel, Russia Today, is very excited about America's debt....

They've got experience.....trying to walk on water like jesus doesn't work for long.

Well, dependent upon one's mass and the surface tension of the water and so on.

That ship is going to the bottom of the sea.

[sandinista]

After serious consideration of the whole issue, including other factors such as backward thinking regarding evolution, I can only conclude that America is going the route of ancient Rome.

...only faster, much faster.

My thoughts exactly. And I must say, the impression I'm getting is that the rest of the world does not have much sympathy for the USA

Now that's an understatement!

[Woodbutcher]

If americans have to give up half of the things they own now, they're still better off than 95% of the other countries.

[Seth]

This is what happens when a responisble colony of The British Empire goes it alone. Runs out of cash and then gets into drug dealing,fighting and worse.

No, this is what happens when we let Progressives and socialists loose with the nation's full faith and credit, which they use to buy votes from the dependent class with entitlement spending.

We haven't run out of money, in fact there is TOO MUCH money in circulation, thanks to Bernanke and the Fed, and inflation is about to hammer us.

What we've run out of is the will to cut spending.

The US doesn't have a debt crisis, we have a spending crisis. All we need to do to avoid defaulting on our obligations is to stop spending and direct that money to the debt. We can start with Social Security, Medicare, Medicaid, federal worker paychecks, all other federal entitlement spending, and then the military.

Cut all of those expenses and we'll have plenty of money to pay off our bonded debt.

But only two of the motherfuckers in Congress have the courage to do that: Rand and Ron Paul.

Of course, it will suck to be the recipient of entitlements that no longer exist, but life's a bitch, so adapt or die.

[pErvinalia]

That's right I forgot that Bush was a progressive/socialist.

[Adenosine]

This is what happens when a responisble colony of The British Empire goes it alone. Runs out of cash and then gets into drug dealing,fighting and worse.

No, this is what happens when we let Progressives and socialists loose with the nation's full faith and credit, which they use to buy votes from the dependent class with entitlement spending.

We haven't run out of money, in fact there is TOO MUCH money in circulation, thanks to Bernanke and the Fed, and inflation is about to hammer us.

What we've run out of is the will to cut spending.

The US doesn't have a debt crisis, we have a spending crisis. All we need to do to avoid defaulting on our obligations is to stop spending and direct that money to the debt. We can start with Social Security, Medicare, Medicaid, federal worker paychecks, all other federal entitlement spending, and then the military.

Cut all of those expenses and we'll have plenty of money to pay off our bonded debt.

But only two of the motherfuckers in Congress have the courage to do that: Rand and Ron Paul.

Of course, it will suck to be the recipient of entitlements that no longer exist, but life's a bitch, so adapt or die.

lolol, you're funny. This is actually what happens when the rich buy the government, get their tax rate dropped and then convince the government to start wars to expand their markets. Less money coming in from the rich and more money going out on "Defence".

[irretating]

^ hehehehe +1

[Robert_S]

I say we stop with the weapons buying freedom fighting so we can invest that cash in some new technologies and infrastructure. And we need to reeducate retrain those financial engineers to do something useful.

[Clinton Huxley]

Imperial over-stretch. Get's them all in the end.

[Atheist-Lite]

Imperial over-stretch. Get's them all in the end.

Didn't get us. We had a soft landing thanks to the fifty year American empire(second hand, one previous owner), that'll make their fall all the worse but that's how it goes with suckers.

[Clinton Huxley]

The US offed the Roosians by outspending them militarily, don't think that will work with the Chinese.