The US’s debt has recently reached 14 Trillion dollars and is still climbing. The question is when to stop.
The United States Debt counter (http://www.usdebtclock.org/) says the National Debt is at almost 14 and a half TRILLION dollars. This issue has been talked about by 99% of the people in the US, but that’s all that’s ever come of it. Talk. My question is when will action actually come. And when can we stop “spending money to make money”? because that is plainly not working at all. At this date (12 July 2011) every single American citizen would need to pay about $45,000 to almost get rid of the National debt. However that’s more than the average annual income (as of 2009, http://www.ssa.gov/oact/cola/AWI.html). Is it possible to pay off such an enormous debt ever? I honestly don’t think so. Not peacefully at least.
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So when will the countries we borrowed from come asking for there money back? Its really only a matter of time. Soon China is going to want their money, but you see, we don’t have any money! Then its going to turn nasty. I predict China asks first and eventually launches war against America. Then other countries who we owe debt to will start to do the same and at that point we’re looking at a third World War. Only this one will be the worst. The outcome? America will own half the world or America will be extinct. I don’t think there will be an “in between”
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The only solution is immediate action by our “friends” on Capitol Hill. Yet, this is still extremely difficult. What can you cut? Education, they’re trying to and schools are already getting worse and drop out rates at record highs (http://www.edequality.org/facts/entry/drop_out_rate/) that’s definitely a bad idea. They could cut infrastructure, but then we would look like a third world country after 2-5 years. The most logical and friendly thing to cut would be OIL. There is about $604 Billion imported in oil each year if we were to completely cut oil (and thats not going to happen, but if we were) it would only take 25 years to pay the debt back assuming we don’t spend ANY more money than we have in that quarter of a century. Unfortunately cutting oil from America is impossible, but it would be a good start to only use our oil and promote other ways of getting energy. Let’s all hope that the American government can figure this thing out. And I mean everyone from Americans to Australians to South Africans to Germans. Because I like not being forced to hold a rifle in my hand before I plan on it. I also like the world at peace not in turmoil. Like and Comment if you like this and still comment if you didn’t like it or you have suggestions to make it better. Thank you for reading!