American Debt/Deficit Spending Crisis III

[Thales750]

The same as people in the UK did after the US caused the last financial crisis in 2008.

You continue to pay or you get reposessed.

Why doesn't the USA pay off the $14trillion debt instead of wasting it on useless projects like NASA and the like.

Col

Add that to the list of things you know absolutely nothing about.

NASA and programs like it have a huge multiplier effect on the economy.

I thought (actually hoped) you would have a better understanding of how things really work Col.

 

[ColinEssex]

Add that to the list of things you know absolutely nothing about.

NASA and programs like it have a huge multiplier effect on the economy.

That'll be why the Yanks scrapped the shuttle and now have to rely on the Ruskies to ferry them about. And I'll bet they don't come cheap as a taxi service.

Odd isn't it that a few decades ago there was nearly an atomic war between the Yanks and Ruskies - now the Yanks are reliant on them for hitching a lift in space.

Which ever way you look at it, $14trillion in debt is a fair amount. Your question was

What are all those people going to do with their 500,000 morgages?

I answered it - they either pay it and regret being so greedy, or they default and get reposessed. It's simple.

What's it like having a huge mortgage you can't pay? If I get a moment I'll try to imagine it. What's it like having a mortgage? I can't remember really, paid mine off years ago, and our income seems to rise steadily. I can't see what the fuss is about. I noticed that steak has gone up a bit though.

Col

 

[Fifty2One]

Perhaps the politicians could get off their butts and actually do something for the people they claim to represent, rather then using their egos to repeatedly screw the middle class citizens, which happens to be their tax base and who ultimately have to pay back the growing debt.