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Debts of the country are a different animal than debts of the citizens. I'm sensing that you think that because America has a huge (not really) "debt", America is going to have to pay it off as if it's owed to an usurious credit card company that'll have us all thrown into debtors prison if we fail to meet their deadline. That isn't how things work.
Then, please enlighten us. How do things work (in your opinion, of course)?
Debts of the country are a different animal than debts of the citizens. I'm sensing that you think that because America has a huge (not really) "debt", America is going to have to pay it off as if it's owed to an usurious credit card company that'll have us all thrown into debtors prison if we fail to meet their deadline. That isn't how things work.
This guy obviously has a Doctorate in Economics!!!!! (NOT). I can't even comment on what you quote here. You are so misinformed it is not worth the time I had to take to type this response. It is people like you who are leading this country down the path of destruction.......BTW....I'm not going anywere!!!
Who pays the country's debts? Doesn't the country *have* to pay its debts?
The country has to pay this debt and the persons who will be legally liable to pay are the people of the United States. Money will be allocated from your tax dollars to meet the obligation. Vitrually all of this debt is in the form of US government bonds called Treasuries. You the tax payer are already paying several hundred billion dollars in interest payments to bond holders. Also each year a fraction of these treasuries mature and bond holders have a choice, buying new treasuries to replace the old bonds often called a roll over or redemption in cash which has to be supplied by you the American tax payer. This debt is about 9 trillion dollars and it should be understood that 2/3 of this debt is owed to Americans. The largest single holder of treasuries is US government agencies. The US government agencies hold about 5 trillion dollars in treasuries. One government agency holds the lions share namely the Social Secirity Administration to the tune of 4.5 trillion dollars. Other major holders of US treasuries are US Financial companies and American Businesses who find investing in government securities more lucrative than developing new products or manufacturing. Foreigners hold about 2 trillion in US treasuries.
There are different approaches to economics, different schools, different ideologies. I asked you a pretty simple question that you shouldn't need more than a cursory understanding of the social science to answer.
If the democrats grew balls and passed anything resembling universal health care I would hope that the sick and the weary were covered, regardless of their nationality. What kind of barbarian would wish death on a sick child because of it's nationality?
This is a perfect example of one of those stupid remarks we've come to expect from some on this forum.
Maybe if you post a few more threads like this then the people just reading thread titles will take this lie seriously.
Or....maybe not.
Thanks Judge brubaker!
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