Is the US spending more money than they have?

by JH 16 Replies latest jw friends

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  JH

  We all know that the USA is a superpower, or should I say the only superpower, but even so, where do they get the money to do so much around the world. They send their army across the planet to wage war,at a very hight price. Each cruise missile or jet fighter costs millions, and then they say they still have the money to rebuild the country. Like I stated in my other thread, they have plans to send more men to the moon and beyond at a great cost. Even the missile shield they want to build is very expensive, and not even sure it will work. If the US had no deficit and no debt, I could understand , but how can they do so much when they owe so much money? I'm amazed...

  And to who do they owe the money? If they owe it to themselves, it stays in the family, but if they owe money to other countries, then it's worse.

  If I compare the US to a family with a budget, wouldn't it be a financial disater? Will the US ever go broke?

  http://www.toptips.com/debtclock.html
• 

  Simon

  Yes. Buy Euros

  What do you do when you are deep in debt? Launch a major spending programme ! How about something really useful ... like putting men on mars

  IT WILL COST OVER 1 TRILLION DOLLARS !! (and forgive the cynicism but it seems going too and from low-earth orbit is a bit of a challenge right now)

  You guys are gonna be paying for years ...
• 

  Badger

  But Simon, we might find OIL up there for the Bushes!
• 

  bigboi

  And to who do they owe the money? If they owe it to themselves, it stays in the family, but if they owe money to other countries, then it's worse.

  I think the government borrows money from other countries. When the government starts running deficts they are often only able to pay the interest on those debts whichis a helluva lot of cash. Lasst time I looked into, which was some years ago, the payment on the interest alone was close to 200 billion dollars. That is an incredible amount of money, countries we borrow from count on that money more than you know.
• 

  Nathan Natas

  The British space programme is modeled after "Dr. Who" and Tardis.

  Let us yanks do what we do best. We'll invite y'all along later.
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  Satanus

  There are at least two ways of looking at it. Of course the us govt doesn't have the money. Banks are authorised by the govt to create the money, and then lend it to the govt. The resulting govt debt can be bought up by, say, china. To china, this is an investment. That is the other way to see it, as investment by people w money to burn. This explanation is greatly simplified, sorry. Someone who has more details can fill it in, if they want.

  Bush's mars/moon push may be the best thing for the american economy. Here are some reasons:

  Investors will pour in money, most likely.

  It will create thousands of jobs & jobs in new fields that never existed before.

  We'll all be showered w lots of new tech toys (santa lives on mars, not the north pole).

  It might distract bush from invading too many more countries.

  SS
• 

  animal

  Correct on the jobs.... talk has already started in the contracting jobs. Having been a contractor since '87, I cant wait. Might be my last job.

  Animal
• 

  elamona

  During the Kennedy years of 62 and 63 the budget deficit was 9% and 5% of total budget.What space projects Kennedy proposed was considered "visionary" and EVERYBODY jumped on board including the adoring press at that time . When Johnson started the war on Poverty (that effectively impoverished 14,000,000 people) the budget dificit was 15% of the total budget. But it was for a "worthy" cause so nobody cared. The budget deficit this year is 5% of the total budget. We have had deficit spending for 55 of the last 60 years. So why the big squawk now? I am no Bush fan- think he is too liberal but I do try to be fair in my assessments of him compared to all of the other presidents when it comes to the budget and fiscal matters. Where has all of this sudden concern for budget deficits come from? No one has cared for the last 60 years that we spend more than we take in, except us radical right wing "nuts". I got my numbers from the U.S. Gov. They have gov budget records since 1790 on line.
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  Mutz

  Building up a huge budget deficit is a handy ploy, if you want an excuse to cut back on welfare etc. Still, those Faith Based welfare projects should help no end.
  God help you.
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  stillajwexelder

  The internal economy is so strong the US can afford to do it -- also the dollar is the global currency so the US government/treasury can always print more money, allow some inflation, and literally inflate the debt away - -dangerous of course IMHO --but always do-able