US reached debt ceiling...again

[Kosmik]

Yes it has or it will be, in 3 months when they hit the new ceiling it will go up and so on...

Must be wonderful having endless supplies of money and you get to decide how much you need .

damn, wish I had money tree's like that.

 

[Alan]

As soon as Reaganomics came to be, the USA was going to fail on debt.

yes we've seen how Reaganomics has sunk Europe. Oh wait.

 

[killadoob]

yes we've seen how Reaganomics has sunk Europe. Oh wait.

Alan unlike european countries the US can run up 15-30 trillion in debt. So comparing them to the US is silly. No country can run up debt that, christ greece only has debt of about 500 billion and they are on the verge of collapse, if they unlimited money they would also be doing fine. I am sure would love to be able to dictate what their debt is.

 

[killadoob]

Greece spent 50% of the time since 1829 either in default or rescheduling its debt, so nothing new there.

Yup they would not have to though if they had unlimited money and could decide what their debt should be.

 

[|tera|]

Mind the question if you think it's silly.

Who does the US owe debt to? Is it other countries, or is this debt within their own country?

 

[Elimentals]

Mind the question if you think it's silly.

Who does the US owe debt to? Is it other countries, or is this debt within their own country?

Many Countries buy US debt in order to lower their money's value Example China:

In order to keep the factories in China, they buy US debt lowering the value of the Yuan and in turn keep the US demand for products that is made in China.

 

[|tera|]

Many Countries buy US debt in order to lower their money's value Example China:

In order to keep the factories in China, they buy US debt lowering the value of the Yuan and in turn keep the US demand for products that is made in China.

Ok, but that doesn't answer my question.

To whom is the US indebted? Themselves or other countries?

 

[Elimentals]

Ok, but that doesn't answer my question.

To whom is the US indebted? Themselves or other countries?

Mixed, they own money to Other Countries, private sector.

 

[|tera|]

Mixed, they own money to Other Countries, private sector.

So most is owed to themselves, which paints a much rosier picture for them IMHO.

Edit: Thank you Elimentals.

 

[killadoob]

Then they should increase their gdp shouldn't they?

Perhaps and they should get rid of that lazy tag but it's not easy for them right now because they are locked into the euro, the euro countries that are in trouble need to drop the euro because they cannot get out of their situation as long as they using the euro.

 

[satanboy]

fsking idiots...

stop making war and create jobs instead...

legalise drugs

increase tax rate for the rich (the real rich)

job done

 

[Elimentals]

So most is owed to themselves, which paints a much rosier picture for them IMHO.

Edit: Thank you Elimentals.

YW, the picture is only rosy until people stop getting money owed to them. If military personnel cant get pension and the Private sector cant pay people's salaries it wont be so rosy doesnt matter if they in another country or your own.