bloggingstocks.com — The U.S. debt is the total amount of money the government has borrowed (from its people and foreigners) in order to pay for past government spending. With congress set to raise the limit on the national debt, let's take a look at just how much money that is.
Nov 16, 2009 View in Crawl 4
Closed AccountNov 17, 2009
The thing is, if the deficit rises enough, then the value of the dollar decreases.Ie: if you borrowed 1 million dollars in the 60s and invested it, then have to repay it in 2008... no problem.
Con_BrawlerNov 17, 2009
"With a total statutory debt limit of $12.1 trillion ($12,100,000,000,000) and the U.S. population at 304 million (304,000,000), the debt per American is $39,800."
zacharytelschowNov 18, 2009
That's correct. Unfortunately, a higher capital gains tax has been shown to have a negative effect on overall investment by rich and middle class alike. Investments and risk taking are what cause our economy to grow, not to mention the fact that the total tax receipts for capital gains taxes tend to go up as the rate goes down. It doesn't seem like you're arguing for a higher rate, but there's no way to correct the 15% tax rate for a few without hurting many (if you feel it needs correction at all).
greenthumbittDec 22, 2009
FORECLOSURE: The United States of AmericaSelling Price: 1 Million Dollars$12.1 Trillion!!!!More Like$106 Trillion with all of the Governments additional promises!If your family member asked you to borrow another 100 dollars, when he has not paid you back for the100,000 dollars that he has already borrowed, would you say yes? NOOOOOOOOOOOOOO!!!!!!IT IS ABSOLUTELY CRAZY. You know that you would never see that money again.There is one reason for this debt and it is to destroy America.