Our ball & chain

No, but having the government run more within its means, we would not have to borrow money from China.

Debt...what debt?

What do you think that deduction for taxes out of each paycheck is for?

Just accept the fact that China now owns the USA, and is not likely to accept a buy back offer any time soon.

Might also consider taking Mandarin lessons.

Do the math. Various sources report the debt anywhere between US $700B to US$2.5 T. At $10 per month per wage earner, say 150 million of those, that is US$1.5B per month, or $US18B per year. At just 3% interest, we would be falling behind even at the low-end debt estimate; $10 a month wouldn't amount to the minimum payment just to stay even. If you could collect US$10 per month from every living soul in the country that would double the take to US$36B, which would be just US$7B a year above interest, if the debt is at US$700B, but well below keeping up with interest if the debt is really US$2.5T.

And that all assumes we borrow no more from the Chinese. Yeah, right. We will stop borrowing when they decide we are a bad debt because we are more communistic than they are. Which isn't far off.

emc_c

Would one country do business with another country if the other country was unable to pay?

One time it was where our credit was good., but it gets to the point where, they may not be able to drop us, because it would be detrimental to the repaying of our debt to China. And we are an outlet for their goods.

OMG......we are a toxic asset

Not only are we toxic, we're still injecting poison into our financial system.

Wall Street has just set aside $60,000,000.00USD as bonuses for their top thieves to reward them for the obscene profits they are making while planted firmly on our backs!

Many state governments are on the verge of bankruptcy thanks to them.

But that is an easy way for them to defend it by thier way of thinking by piece mealing it away.

Example;

.......$60,000,000.00USD as bonuses, thats peanuts when you look at a trillion dollar economy.

But in reality

$60 Mil here

$700 Mil there

$1.2 bil over there....

......

Sooner or later, you're talking about real money.

you got the point

some people don't realize that every dollar is real money, no matter what the quanity

Aren't you worried that, if we quit borrowing from them, they'll quit sending us junk that no one has any use for but just has to have anyway. I saw a great line the other day from Dr. Abe Twerski, "When I look in the store, I'm amazed at how much stuff they have that I can live without."

PS. I shop at Harbor Freight in spite of this rant.

Naww....we're gonna flip the currency....and then all the bad stuff goes away!