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How is the US going to handle their national debt?

#1-________Posted 8/13/2011 4:13:49 PM
This probably sounds like a bit of a stupid question but I donīt know much about US politics so bear with me.

Basically I read that the US will have no way to pay off their debt trough any means since they can barely manage the interest at the moment. Doesnīt this mean that bankruptcy is inevitable in the long run? Is there ANY way for the US to still recover from this or is everyone just waiting for the whole country to collapse?
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batman
#2chaos knightPosted 8/13/2011 4:16:15 PM
The interest is only $200-300 billion at the moment.
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#3-________(Topic Creator)Posted 8/13/2011 4:31:25 PM
So the debt is still salvageable?
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batman
#4dermoratrakenPosted 8/13/2011 4:40:44 PM
The same way the average american handles credit card debt - get more credit cards!
#5Nirvna9Posted 8/13/2011 4:59:00 PM
It will do it by doing exactly as it has been told by the representatives of the "free market", to cut on spending the areas of entitlements and defense budgets and to raise taxes. If we do that, we can start making enough to pay off our debts and get our deficit under control. It really isn't rocket science. The problem is that neither side wants to do this.
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#6Xeno14Posted 8/13/2011 5:09:36 PM
wait til the democrats are out of power, then hide it in various accounting tricks like bush II used and ignore it.
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#7-________(Topic Creator)Posted 8/13/2011 5:11:03 PM
Thanks : )
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batman
#8SlamslatePosted 8/13/2011 5:13:31 PM
This is how.


http://www.youtube.com/watch?v=q6vi528gseA
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#9Jayjs20Posted 8/13/2011 6:25:56 PM
wait til the democrats are out of power, then hide it in various accounting tricks like bush II used and ignore it.

Then they'll make a bar chart which will convince everyone.
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