Did anyone else see this? Opinions vary on whether or not national debt is detrimental to the US as a whole. But with our economy tanking and this year's election drawing to a climactic close, it's certainly noteworthy that more zeros are necessitated to tally our nation's indebtedness to others. It will be interesting to see where our new president takes us, and and how long it will take individual Americans and our nation to dig out of their respective debts. The end of unwise debt, sadly, does not seem to be in sight. And individual Americans are not likely to see $700 billion thrust our way if we fail to manage our money wisely.
Wednesday 8 October 2008
Debt
Did anyone else see this? Opinions vary on whether or not national debt is detrimental to the US as a whole. But with our economy tanking and this year's election drawing to a climactic close, it's certainly noteworthy that more zeros are necessitated to tally our nation's indebtedness to others. It will be interesting to see where our new president takes us, and and how long it will take individual Americans and our nation to dig out of their respective debts. The end of unwise debt, sadly, does not seem to be in sight. And individual Americans are not likely to see $700 billion thrust our way if we fail to manage our money wisely.
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3 comments:
Insane, eh? Personally, I believe it's completely irrelevant who wins the election. On many important policies--especially economic--they're simply putting different words on the same political positions. Look for that number to increase substantially over the next four years and couple it with extremely high inflation rates due to the devaluing of the dollar.
However! I like the point you made. One can't really affect the national economy much, but one can always affect their personal economy! That's where the attention ought to be!
Here's what I don't understand about this whole national debt thing (ok, one of a few things): When we were under Clinton, we had a surplus but we were also in a few trillion in national debt? Now, to me that seems like me saying I have a cushy savings account and also having a few thousand in credit card debt. So I just don't get how that's calculated.
This whole mess makes me really wish I had paid more attention in high school econ! All I know is that I don't have investments and I just got a raise, so I feel some false security. I am glad to have a job while job-searching in times like these!
Why would we expect a government run by people who aren't able to live within their means personally (most likely)to run a government that lives within its means. It doesn't help any that our government is handing out money and aid to people who won't work, and promising them more if they will just vote for the right candidate. With all the promises being made we will be much deeper in debt in 4 years than are now IF (and that is a big IF) they can (or will) actually implement their pipe dream promises.
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