Ok, how about a little perspective here...to go along with the doom and gloom?
The US national debt is not very bad...when compared to other nations. Sure, I get ticked off at congress spending like drunken sailors (sorry sailors...I don't mean to insult you)...but they're not the only country that does this extensively...
http://cluaran.free.fr/dette.html
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
Japan owes, proportionally, WAY more than the US does. Canada also owes more than the US does.
Our US news loves yellow journalism, and hence perspective usually is lost. If Japan would try to foreclose on us...we'd turn on them and come out ahead.
That being said...it is insane that gov'ts run up this kind of debt.
The US national debt is not very bad...when compared to other nations. Sure, I get ticked off at congress spending like drunken sailors (sorry sailors...I don't mean to insult you)...but they're not the only country that does this extensively...
http://cluaran.free.fr/dette.html
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
Japan owes, proportionally, WAY more than the US does. Canada also owes more than the US does.
Our US news loves yellow journalism, and hence perspective usually is lost. If Japan would try to foreclose on us...we'd turn on them and come out ahead.
That being said...it is insane that gov'ts run up this kind of debt.