US National Debt?

So for the past 5 years the US National Debt has been increasing a shitload faster than usual.

http://www.usdebtclock.org/

Does anyone actually know what's going to happen with this? I don't really know how the US Goverment plans to pay back its $17.5 trillion national debt (some of it borrowed from other countries) anytime soon. I mean can they just keep borrowing and borrowing and borrowing more endlessly? Or is there some sort of "limit" that stops borrowing going any higher? It just doesn't seem possible how they plan to pay back a debt that high.

I know the UK and other countries have their debts too, but I think the US has the biggest one overall.

Thoughts? I'm quite interested to see what the endgame will be on all this. I've read online a civil war might break out.

 

It's because of the recession. We just need to balance the budget for a decade and it will have been mostly paid back.

Oh, and two unfunded wars. And massive tax cuts.

 

They'll just keep raising the debt ceiling. Oh, we've hit it? Better slap another couple billion on there. When the US Govnt shut down they raised the debt ceiling to pull themselves out of crisis.



Some food for thought on how money is allowed to be spread in the US. It's no wonder people can't financially support themselves and have to rely on the Government, need more healthcare services, need more this and that. Obviously it isn't just the US, it's a global problem. Just the US has a huge market and huge business.

 

$54,000 worth of debt for every citizen, nice!

canada clocks in at $17,000 USD in debt per person, the UK at $31,000. also nice!

this is doubtful

 

Which isn't too much over a couple decades.

 

Honestly it's not. When Iceland overthrew there government not one news report was done an on major news network, I couldn't tell you about local's but not one word was said. At the same time the government was trying to take away things like assault weapons that can do real damage.

I'm pretty sure there afraid of something.

 

considering the fact that the us had 5 tril of debt in the year 2000 during decent economic prosperity, 17 tril after 6 years of hard recession isn't that bad, although it ain't good either

 

Right now the government is nowhere near defaulting on the interest payments so nothing right now. As far as getting it paid back? Probably never.

 

If i'm not mistaken like half that amount is owed back to the states... social security to precise. So not all of it is borrowed from over seas.

^ just what I heard but I can't confirm if the info is correct.

 

Nothing is going to happen because the US has the absolute most powerful military on the planet, bar fucking none. We could wipe out every other country with our Navy and Airforce alone, and have it done in 24 hours.

We can accrue as much debt as we want, because no one can threaten to collect.

 

It's a scary figure, but we're not the only economy in trouble.

 

That's the attitude that gets y'all in trouble all the time

 

Fear absolutely is not why nobody collects it. It's because their economies would suffer as well. China essentially owns us, and if they were to stop selling us their shitty products until we've paid back our debts they would lose billions and billions of dollars.

 

Um.... There was not prosperity is 2000. But even if there was there was a budget surplus until Bush slashed taxes so the debt wasn't rising anyways.

 

Owed to the federal governement*. We have borrowed a lot from social security and the Federal Reserve holds a lot of our debt too IIRC.

What? No they don't. They hold a small amount of our debt. The federal government owes itself more money than we owe China.

 

I'm not trying to promote this perspective, I'm just putting it out there.

This guy gets it.

 

Sorry, I didn't mean that out of the total amount of debt it's primarily China. I meant out of the countries we owe money to China (and I believe Japan as well, actually) account for about half of that money.

I think only some $5.5 trillion of our total debt is foreign debt.

 

We will eventually fight over it. And win.

 

It may actually be good that China holds a lot of our debt. I bet we hold a lot of theirs too. It makes us economically close which means we will think twice before bombing each other.

 

It Doesn't make much sense to me, but I'm sure all countries bar a few are in debt. Most countries tend to be owed in a substantial amount as well though.

As for America.. My opinion is - It's Stubborn as its so large. America is only around 300years old, whilst England is over 5x that age. American's do as they please, and publicise there problems on TV for everyone to see. Thus making others follow in there footsteps.