Currently, the U.S National Debt is at $8,934,464,616,085.92 . Each citizen's share of this debt is $29,526.21 . This is something to worry about. Similarly, China used to be in debt to the United States; however, because of outsourcing jobs to India, China, Vietnam and other asian countries, we are buying more than what we sell, even though our GDP is the highest in the world. At this current rate, we are increasing an average of $1.4 billion per day and as more jobs are lost to oversea companies, we can expect to lose more. What do you think would be the best option to deal with this problem? Should we forget about it and hope that it goes away by itself like most of the citizens of America, or should we worry and attempt to increase our GDP in hopes of evening the exports and imports?
The problem with America right now is America. We're capitalists. We want to make as much money as we can possibly make. Unfortunately, like you said, we are outsourcing all of our jobs to other nations. In my opinion, if we kept jobs in America, our nation would explode in wealth. The deficit that we are in would not go away, per say, but we would have a considerable amount of money to spend. Overtime, the deficit would go away. The amount of money that we would be getting via these new jobs would really benefit the United States. The downfall is that we're a Capitalistic nation. The government doesn't get involved in business unless it's necessary, such as monopolies. If the government said that these companies need to only hire Americans, there would be a massive argument between the companies and the government.
We're never going to pay off our debt. Money is becoming less real. Less and less is backed by anything. Currently, if all of the debts in the world were paid off, then the world would be without any money at all. Eventually something will happen where the monetary system is altered, but until then we're going to keep doing what we're doing.
It sucks.
Archer Wrote:We're never going to pay off our debt. Money is becoming less real. Less and less is backed by anything. Currently, if all of the debts in the world were paid off, then the world would be without any money at all. Eventually something will happen where the monetary system is altered, but until then we're going to keep doing what we're doing.
It sucks.
The value of the dollar is being debased more and more everyday, there is no backing to the dollar, and we just keep printing it out without heeding the consequences.
heres an idea. pull out of iraq and stop borrowing money.
unbeleivable, your national debt.
Clinton left office with a surplus.
Explain what happened to that, and all of a sudden we're getting checks to stimulate the economy?
Kinda odd.
Makes me wonder.
Purrs,
Pookie
Pookie Wrote:Clinton left office with a surplus.
Explain what happened to that, and all of a sudden we're getting checks to stimulate the economy?
Kinda odd.
Makes me wonder.
Purrs,
Pookie
"Political" accounting.
IMHO...cut taxes, penalize companies using overseas workers, high import taxes, and give more incentives for new American factories and innovation. We gotta stop the importing of goods and the exporting of jobs.
labrocca Wrote:IMHO...cut taxes, penalize companies using overseas workers, high import taxes, and give more incentives for new American factories and innovation. We gotta stop the importing of goods and the exporting of jobs.
Your idea sounds fantastic on face value, but when you dig deeper, there are some concerns.
1. Import Tariffs will increase the price of goods.
2. Reduction of job exports will increase the price of goods.
I agree with what you are saying, but we have to realize that being dependent upon America is going to be more expensive than being dependent on Mexico and China.