Do you believe we should continue to borrow money from other countries without worrying about the National Debt (unemployment, generations)

[petch751]

Do you believe the government should spend no more money than it takes in?

Or do you believe

Regardless of the conscequences we can just continue to borrow money from other countries without worrying about the National Debt?

[Mr. Mon]

Other countries own just 28% of our total federal securities. Do you believe we can just continue to borrow money from our own citizens and local governments without worrying about the National Debt?

[katzpaw]

Your two options are too limiting especially with the rider "without worrying about the National Debt".
The US has always had debt and spent more than it takes - all the way back to Independence.
History of the United States public debt - Wikipedia, the free encyclopedia

The current mess is due to increasing expenses while revenues have declined. Revenues are down due to Bush tax cuts and the recession. Social safety net expenses are up due to the recession. The Democrats solution to close the gap is a combination of of expense cuts and tax hikes (back to 1990's levels) while Republicans believe in expense cuts plus more tax cuts -in the belief that it is 'high' taxes that are stifling America vs the rest of the world.

[petch751]

We have passed a milestone: the fourth straight year the deficit has passed the $1tn mark. The national debt stands at over $16 trillion.

So, how does the US borrow money? Treasury bonds are how the US and all governments for that matter borrow hard cash. they issue government securities, which other countries and institutions buy. So, the US national debt is owned mostly in the US - but the $5.4tn foreign-owned debt is owned predominantly by Asian economies.

Under President Obama's first term, that figure has gone up from $3tn, a rise of 74.1%. Obama said our debt is not a problem. What happens when you can't pay the bill? They confiscate the property.

Forget speaking English or Spanish,

China is buying America.

[walidm]

Originally Posted by petch751

We have passed a milestone: the fourth straight year the deficit has passed the $1tn mark. The national debt stands at over $16 trillion.

So, how does the US borrow money? Treasury bonds are how the US and all governments for that matter borrow hard cash. they issue government securities, which other countries and institutions buy. So, the US national debt is owned mostly in the US - but the $5.4tn foreign-owned debt is owned predominantly by Asian economies.

Under President Obama's first term, that figure has gone up from $3tn, a rise of 74.1%. Obama said our debt is not a problem. What happens when you can't pay the bill? They confiscate the property.

Forget speaking English or Spanish,

China is buying America.

The amount of US Debt China owns continues to fall YOY.

[MTAtech]

3/4 of the money the U.S. government borrows is from Americans.

American taxpayers have to pay the interest on that debt. But who received that interest? American taxpayers.

Right now, interest rates on new bonds are at record lows. That means that total interest due in 2012 is no more than it was in 2006. This means that there is no short-term crisis. Investors are very confident in U.S. securities.

It is difficult to take seriously the fear that the U.S. can't pay the bill when the GOP insists that tax-rates must be left at their lowest levels in three generations.

All-in-all, the debt is manageable, just like WWII debt was manageable. The main issue facing the U.S. is not debt but unemployment, which robs the Treasury every year of tax revenue.

[Grandpa Pipes]

Do you believe as our founders purpose of the government
Continue to borrow money from other countries without worrying about the National Debt?
The government should spend no more money than it takes in?


Sorry but this poll , as stated , is ridiculous and inane.

It ask a question that that is from the founding fathers time and perspective then gives choices that are from todays political perspective. Really lame!!

Just what the hell was the OP trying to get at?????

[middle-aged mom]

Balanced budget amendment blah-blah goes back to the 30's.

There was never a Republican President who balanced the budget. Reagan talked, but never walked the talk.

There were deficit budgets every year between 1970-1997.

Surpluses were recorded in 1998-2001. Budgets have been negative ever since.

[katzpaw]

"The founders" raised revenue primarily from anti-free trade tariffs and for the balance borrowed heavily from Europe.