Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Can any one answer how this country we live in is in debt with over 16 trillion of dollars.....?

The Federal Reserve bank prints 40 billion a week also hundred of billions of dollars go unclaimed along with the hundreds of billions of dollars citizens pay that they never claim an the state knows this so do the people they threw away their receipts daily yet other country's around the world save there receipt's in bags an shoes an fight over them even some times so they can claim them in taxes. or do i already know the answers to my questions an I'm waiting my time?

4 Answers

  • 8 years ago
    Favorite Answer

    It's the delusion that comes from having a credit card with an absurdly high spending limit. Sure you can go from month to month and just pay the minimum, but eventually that minimum is going to get so burdensome that you will have to slash spending just to keep up the payments as you will run out of other people's money. Do not send for whom the tax man tolls, it tolls for thee.

  • Anonymous
    8 years ago

    America and other countries often borrow to do projects now that will pay back later.

    it is ok to have some debt, but not too much

    the american debt as compared to its yearly GDP ( not its government budget) is not large. Greece owes well over 150% of its GDP and cannot pay the interests. Nobody wanted to pay taxes, so they did not.

    economics is complicated. the fed does NOT "just print money" the government offers IOUs ( bond sales) which is Promise to pay. we always kept that promise, so those with extra cash buy the bonds. the interest rate is very very low sometimes less than 1% but cash holders like American investors, China and others buy anyway because they know the money is safe

    the way to pay down the debt is to grow the economy. put people to work doing useful things. the new goods and services produce a value, taxes are paid and the debt goes down.

    the "Debt limit" is artificial political nonsense.

    you are confused about "receipts" they are just records of transactions. some tax deductible, most not so.

    Source(s): it is NOT a simple question or answer
  • 8 years ago

    Can any one answer how this country we live in is in debt with over 16 trillion of dollars.....?


  • justa
    Lv 7
    8 years ago

    Ummm no, we spent much more on the wars that went on a very long time, and we took in much less due to tax breaks.

    And we borrowed to make up the difference.

  • ?
    Lv 6
    8 years ago

    Government spending has exploded in the last several years. Since the government has been spending more money than it takes in, it has to borrow the rest.

Still have questions? Get your answers by asking now.