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How on Earth do Americans manage with the biggest debt in the world?
America has become more a debt 'junkie' - - than ever before
with total debt of $48 Trillion - - and the highest debt ratio in history.
That's $161,287 per man, woman and child - - or $645,148 per family of 4,
$45,514 more debt per family than last year.
Http://mwhodges.home.att.net/nat-debt/debt-nat.htm
10 Answers
- the old dogLv 71 decade agoFavorite Answer
lofty what make you think the states are managing? If they are then they aren't managing very well at all.
- Anonymous1 decade ago
I think it's mostly because polititcians nowadays, both parties, think we have an endless supply of money for them to spend. I just wonder exactly how much money goes into pork barrel projects and other things that we don't need. I would guess it is a pretty major portion. They should be running the country more like us average families, if you don't have the money for something new, make due with what you have.
- 1 decade ago
I personally work hard, pay cash for everything , pay my taxes and hope that my children have the opportunity to do better than I did...
I do not live on credit... If I can't afford it, I don't have it.
My wife and I both have to work to break even. We own everything we have and do without very little.
We have food, shelter, transportation and utilities.
We've got our children, our health and above all else, each other.
We treat others how we expect to be treated.
We live, love, play and pray together.
It ain't always easy but we tackle it together.
We're a team.
How do WE manage?
Love, Trust, & GOD.
And just plain ole hard work.
I wouldn't have it any other way.
- bee beeLv 61 decade ago
I heard they are deliberately reducing the value of the dollar, in order to make their exports more competitive....but considering most of their exports have been outsourced to cheap labour markets.....all they have done is make their own manufacturing dearer. Since they are paying in wages in another currency, if their currency is worth less, then wages cost more, by default.....
Some one has brains in the government????
So I guess of course they are getting more and more in debt. That's not even mentioning the war(s)
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- Anonymous1 decade ago
Perhaps the debt wouldn't be so high if some of those other countries who borrowed from us would pay us back. Our debt is mostly caused by our generosity.
- 1 decade ago
Americans live off credit, we're all going to die someday so live it up while you can.
- Anonymous1 decade ago
they sweep it under the rug and hope it will go away, like they do with all their other problems
- Anonymous1 decade ago
VERY CAREFULLY