How large will our national debt get before the world stops buying it?
- 3 months agoBest Answer
My guess is about $30 trillion in ten years or so. The result may be a massive, permantent depression. That may lead to anarchy , then civil war and the loss of our democracy and the rise of a strong-man dictator. But like all democracies, any attempt to reign in excessive federal spending is punished by throwing the politician out of office. Newt Gingrich was the last person to accomplish this.
- ZhuLv 62 months ago
The world is slowly switching away.
- John HLv 72 months ago
That is the question almost anybody with brains is asking.
- RICKLv 73 months ago
In a way its already happened
In 2010 China owned $1.6 trillion of the US debt, today they own $1.1 trillion and Japan has passed them as the biggest foreign holder of US dept. Foreigners own $6.2 trillion of the $22.?? trillion US debt, same amount they did 3 years ago when the debt was $19.??.
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- Larry CLv 73 months ago
The overwhelming majority of the public debt is owned by Social Security.
- 3 months ago
What the world buys is down to confidence. The world is largely losing confidence in America's ability to repay its debts. It currently owes about $66,000 for every man, woman and child in the USA. Sometimes governments have to borrow because of some urgent need which will be repaid by later taxes. However, if the USA continues to use borrowing as an alternative to tax, the economy will collapse under the weight of its debt and the US Dollar will follow the Zimbabwean Dollar.
- Anonymous3 months ago
You conservatives don't give a damn about the debt when a republican is spending.
It's odd that as soon as a Democrat takes office you hypocrites suddenly care about the deficit