uk.youtube.com — Americans are finally waking up to the reality of economics. Their country is in debt to a total of $53TRILLION. Each household in the US owes the US's lenders $400,000+, and each person, an additional $175,000+ with no capital to back it. They are bankrupt!We have a similar problem here in the UK, only it's WORSE!!!Should we wake up too???
Jan 10, 2008 View in Crawl 4
uklooneyJan 10, 2008Submitter
Yes, that is what I said, "Their country is in debt..." Yes, it's future debt too, but so is my mortgage. I'll be paying that for the foreseeable future, only when I finish paying my mortgage, I'll have a house to show for it. The UK's debt per household is approximately ?250,000. Our government can't even afford to pay the interest on it, as it continues to spiral. And people in the UK wonder why we have SO MANY different taxes nowadays, there isn't anything left to tax now. They have finally enforced a 'freedom tax', and charge us to erect surveillance cameras EVERYWHERE, so they can then watch our every move!I truly hope America does the logical thing and elect a President who is too logical.
uklooneyJan 10, 2008Submitter
correction... "who is also logical."Apologies for my government sponsored education.
uklooneyJan 10, 2008Submitter
Yes, that is what I said, "Their country is in debt..." Yes, it's future debt too, but so is my mortgage. I'll be paying that for the foreseeable future, only when I finish paying my mortgage, I'll have a house to show for it. The UK's debt per household is approximately £250,000 and it continues to spiral ot of control. And people in the UK wonder why we have SO MANY different taxes nowadays, there isn't anything left to tax now. They have finally enforced a 'freedom tax', and charge us to erect surveillance cameras EVERYWHERE, so they can then watch our every move!I truly hope America does the logical thing and elect a President who is also logical.
error601Jan 10, 2008
We need a category for "stupid gloom and doomer crap".
clonestarJan 10, 2008
As long as there are more people (who vote) getting some kind of payment or benefit from the public money pit, then it is going to continue to get worse. If more people are receiving than paying, then you will never fix the situation via a ballot box. It must eventually fail; here in the U.S. as well as the U.K. In the U.S. the percentages are pretty much stacked against us, as well as the fact that we have to deal with generations of politicians who have made their fortunes by unceasing efforts to indoctrinate young people into believing that this giant social welfare state is actually the intent of our Constitution and that it is a traditional and constitutionally permissible policy to pursue foreign interventionist policies with little or no restraint whatsoever. The economics will kill us, probably within the next 2 or 3 years.