On October 10th, 2013 QUOCTRUNG BUI wrote about the debt of the United STates. They say that if they do not raise the debt ceiling soon then the US will not be ale to pay the debt at all. There is a chart of who the US owes money too. The US owes money to other countries ($2.6 trillion), individuals and COOPERATIONs ($1 trillion), federal reserve ($2.1 trillion), SOCIAL SECURITY ($2.6 trillion), federal retirement and disabilty ($1 trillion), and China ($1.3 trillion). These are just to name a few there are quite more that are not named. But to pay this off will take so long and who knows if we will even be able to do it because as we are trying to pay the debt we put ourselves in more debt. For example the shutting down of the government will put us billions more in debt. Like in the shutdown in 1996, that lasted 26 days it costed the government $1.4 billion and roughly $2.1 billion in today's money. As time goes on the US will continue going in debt even as when we try to get out of it, it seems like a CONTINUOUS cycle.
http://www.npr.org/blogs/money/2013/10/10/230944425/everyone-the-u-s-government-owes-money-to-in-one-graph
its really depressing how much our country is in debt
ReplyDeleteIf our government passed a balanced budget amendment we wouldn't have this problem.
ReplyDeleteThat's difficult. Every time we try to pay off our debt, we're going further into debt. Quite the conundrum. I hope that the government starts to get up and running soon.
ReplyDeleteThis shows that this whole government shutdown isn't really helping us and it must be resolved quickly to avoid going into extra debt for doing nothing with our government
ReplyDeleteAt the rate the national debt is rising. even if we can somehow pay off a portion of the debt it will only slow the rate by a little. That being said we have to find some more ideas on how to pay off this debt so we can be in the safe zone, and having a government shut down is really not helping at all.
ReplyDeleteI agree, by paying the debt we will increase the debt. The shutdown is also not helping anyone at all.
ReplyDeleteI find these numbers very interesting! I like how it broke out the U.S. debt into who it is owed too. This is true though what the article is saying about the shutdown putting us further in debt.
ReplyDelete-Boomer