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Is Obama a rat for trying to make people think we can't pay our bills without a raise in the debt limit?
WHEN WHAT HE WANTS IS PERMISSION TO BORROW MORE MONEY?
We are maxed out now!!! No more borrowing.
Our debt is about seven times our income!
The average American income is about 50,000 a year.
How would you feel if you owed 350,000 on a 50,000 income. You would likely have already filed for bankruptcy long ago. So will this country if we don't stop.
Barack Obama's INTENTION is to bankrupt this country. Are we going to let him???
OK, now, after reading responses by NONAME, David and Richard B, I understand how he convinced people. They also help me to understand how he gets people to believe and repeat his unbelievable lies. These people don't even know how ignorant they are, especially Richard B who calls himself educated. Yes, we have near zero interest now. I assure you that it will not always be so. Do you have any idea what would happen if the interest rate were even a modest 6%? That is not unreasonable. Just as soon as Ben Bernanke stops printing funny money, the interest rate will go up for certain. What the *
5 Answers
- Anonymous8 years ago
NO,
you have NO UNDERSTANDING OF NATIONAL ECONOMICS AT ALL.
AMERICA HAS FREQUENTLY HAD NATIONAL DEBTS.
as long as it is paid off with economic growth it is no harm no foul.
do you think we paid cash for WW II? or the american revolution? you do not stop ordering bullets just because you do not like to use credit.
We "loaned" ( lend lease) Russia and Great Britain the war material they needed.
the soviets "stiffed us"and I am pretty sure Britain payed off.
the number is large but as a proportion to the vast national wealth is is manageable.
Greece got totally out of hand since nobody paid taxes. kind of like bib business and the super rich.
families take on mortgages for homes, loans for education and buy cars on time.
and The nation is NOT a family. they cannot go bankrupt UNLESS a crazy congress stops the normal "rollover of debt" Today we get international loans at almost ZERO interest. countries and people with excess cash loan it to us ( buy our IOU) because they know it is the safest possible way to store their money
Nobody can "repossess" the Grand Canyon!
the penalty for default is NOBODY will loan any more unless the rate is very high.
learn some economics and stop listening to Boehner and Fox news.
it is a TOTALLY ARTIFICIAL PROBLEM
Source(s): educated adult - Anonymous8 years ago
Liberals are brainwashed, They can't think for them self, Then we have the strange ones that live in other countries answering questions in politics slamming our Republicans.
- Anonymous8 years ago
Raising the debt ceiling is needed for us to pay for the bills that we have already passed.
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- EEEEEE!!!!!Lv 68 years ago
you need to learn about public finance and macroeconomics. personal finance does not relate.
