Quote:
Originally Posted by WiredGuy
Last I heard it was about 1 trillion dollars that the US borrowed from China. This was before the bailout was going around, so its probably going up.
WG
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Yup.
It's around 1.4 or 1.5 TRILLION dollars.
They dump over 1 BILLION dollars a day into us, then with Japan, EU and yes even Russia, the US totals out a OVER 2 BILLION dollars a day just to keep the economy afloat.
Now, I'm not a major in economics but if you put it into simple terms, if you have a 2 billion dollar a day crack habit and you are already in the hole to just one of your drug deals for over 1.4 trillion dollars, no matter what you do to try to kick your habit and get back on to of the game is no gonna work. You're gonna go down.
There is simply to way, bailout package or not, that the USA can continue at this speed. It doesn't matter how many banks close, who buys what, who federalizes this or that and who cuts back spending, we STILL have to borrow that much money EVERY DAY just to survive as a country.
How can anyone get out of such a hole?