Is the only thing keeping our country from falling apart right now government bailouts?
We are currently seeing bank failures, insurance company failures, stock failures, mortgage failures and an increase in unemployment. Unfortunately, the U.S. is having to borrow the money from other countries to finance the bailouts as the U.S. is seriously in debt. This, in turn, will seriously impact the value of our dollar which is already worth much less than the euro.
My personal belief is that we are not going to be able to dig our way out of this and we will plunge into a full blown depression within the next 12 months. Because we are the international consumers of the world this will crash everyone’s market as we won’t be able to continue to spend on a consumer level.
Let’s hope I’m wrong.
- AnarchistLv 71 decade agoFavorite Answer
Our country IS falling apart......
That 's why they (government) bailing everyone out.......
Government caused this problem (bad regulations, wrong deregulation, est.......)
So now they think they can fix it.....
It's like putting wolf in charge of the hen house.....
- birdieLv 61 decade ago
They are just stealing your future tax payments. That is what National debt means. They borrow from private banks on what they estimate YOU are willing to pay!
Most people think it has nothing to do with them...hahahaha
They just borrowed $7000 per taxpayer + interest. (in one day and they are not done!) We already owed over $30,000 each.
The dollar is not worth anything ...it is an IOU based on our ability to pay TAXES!
Screw you kids that don't vote. I am thinking I will just take my crappy retirement and go back to Alaska ...at least there is free seafood...Try to pay all of this crap on a $50,000 dollar wages with kids and a college loan payment...cannot do it.
- Anonymous1 decade ago
The money we are borrowing for this is coming from other countries. Lets take the money and then go bankrupt and default on the loan. People in this country do it all the time. Its called filing bankruptcy. Its damn near an institution here. Then we can start over from scratch. Hey....other countries have done the very same thing to us over and over. You know what they say....pay back is a *****.
- CAPTAIN BEARLv 61 decade ago
You have Bush to thank for the present predicament we are in. Seven years of corrupted governing and 2 wars with no end in sight would bankrupt any healthy nation's economy. Actually America is living on borrowed money from China and I think it prudent for Americans to refrain from antagonizing them as they virtually own our butts.
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- mclauchlinLv 44 years ago
i love Kevein Rudd, his authorities actually surpassed out 40 2 billion compared to the seven hundred billion in US, we are no longer talking out a lot, and as a count number of truth we want the money to spice up the economy, wat ought to hav john howard executed? make the wealthy richer? thats why he lost ability
- mr pLv 51 decade ago
your right, sorry to say