U.S. Govt Borrows $6 Billion Per Day, $4 Million Per Minute

sansukong

The Daily Bail                                                                                                         

U.S. Govt Borrows $6 Billion Per Day, $4 Million Per Minute           

Guess how much of the national debt you owe...Merely $50,000 for every man, woman and child or $140,000 per U.S. household.This year the national debt will fly through $17 trillion, get a peek at $18 trillion, make a 2015 date with $20 trillion, while Paul Krugman leads Keynesian dance class aboard the U.S.S. Bankruptcy.  By the way, Krugman has a new name for you, or at least those among you so spiritually depraved, and morally off-kilter to care about federal red ink:




Krugman's Deficit Scolds...

Revolutionar

Nobody even knows what is the deficit the China government runs up each and every single Year.


Think about that.........................

Revolutionar

Bankrupt?

How can that word apply when the borrowings is in US$ that the US government can print to infinity?

Revolutionar

[b]For we have our own currency -- and almost all of our debt, both private and public, is denominated in dollars. So our government, unlike the Greek government, literally can't run out of money. After all, it can print the stuff. So there's almost no risk that America will default on its debt -- I'd say no risk at all if it weren't for the possibility that Republicans would once again try to hold the nation hostage over the debt ceiling.



now, that is a smart Krugman.......................

dusty1

Nobody can run up a tab like America.

Revolutionar

dusty1 Post time: 2013-1-20 16:37
Nobody can run up a tab like America.

America incurs its debts to pay for social security and entitlements on its citizens................

meanwhile, the inflation is exported to China which spends nothing on its citizens...............

who doing the right thing? whose right, whose wrong?

dusty1

Revolutionar Post time: 2013-1-20 16:50
America incurs its debts to pay for social security and entitlements on its citizens.............. ...

The argument falls over when you add Australia to the mix. Universal health care, generous welfare payments, Australia has a good debt to GDP ratio