U.S. And the trillion dollar debt?

How did the U.S get into so much debt ? And how come it keeps going up everyday ? Would you let a person borrow 50k when he didn't pay you the last 50k he borrowed ? That doesn't make sense to me

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  • 5 years ago
    Favorite Answer

    Most of the debt is money that America owes itself. The rest of the world believes we will eventually pay it back which is why our financial system is still the most stable in the world - because the world trusts us.

    That should tell us something. If the world truly believed the US had an unsustainable level of debt then we would see sharp declines in foreign investment and the purchase of Treasury Bonds. Instead, we're actually seeing MORE of both.

    Several years ago the conservative American Enterprise Institute conducted a study showing that dependence on oil was the main driver of US debt. This is back when oil prices were surging. But today things are different. The US is now the world's leading oil exporter, and we are poised to see the lowest inflation-adjusted oil prices in decades.

    https://www.aei.org/events/trillion-dollar-problem...

  • Ron
    Lv 7
    5 years ago

    The National debt goes up because those in position to spend/abuse our money do so freely and really care not. Just the interest alone each month is in the billions! As far as owing, well as long as they pay the interest, others will loan more.

  • Anonymous
    5 years ago

    The debt of a country is in no way similar to the debt of an individual. And here's how it happened:

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  • Anonymous
    5 years ago

    Labeling it "debt" is somewhat misleading. It's more like what the English call an "overdraft". We didn't borrow most of it from anyone-it's money owed to the American people. Getting rich people to pay their share of taxes rather than allowing them to dodge it through loopholes would improve things a good deal.

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  • 5 years ago

    Bush43. Mission Accomplished.

  • Edward
    Lv 7
    5 years ago

    Big spending politicians of both parties pandering for votes with tax dollars.

  • Anonymous
    5 years ago

    It's more like $19 trillion......

  • Anonymous
    5 years ago

    Constant warfare, especially Gulf War II. Jesus was supposed to come back, Rapture Bush away from his mistakes, but it never happened.

  • Anonymous
    5 years ago

    I don't like People with sharp eyes that eat dogs

  • Anonymous
    5 years ago

    I guess you have not heard of Greece

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