|
Notwithstanding the domestic debt, the problem is not the debt itself, as has been pointed out, in comparison to GNP & the size/position of the US economy, it's not unmanagable. The problem is the cost of servicing the debt. Interest charges etc. Which, by and large, the US has only limited control over. Every day that goes by and nothing is done about that debt, money is sucked out of the US economy, basically thrown away. It's a waste. It's like an extra tax where you pay it to some foreign guys. It's a lesson the UK learnt the hard way. Unfortunately it's often in politicians own interest to let these massive debts build up fucking there own people. Happens all the time all over the world. That debt will equal some pain further down the line unless it's dealt with quickly. At least, that was the result in the UK.
__________________
In 1904, Charles Newman-Berry connected two abacus's together using specially enhanced GrapeVine thus inventing the first Internet connection.
NEWMAN-BERRY CASH
Paying webmaster since 1904
|