Government Watch

America’s Debt Crisis Explained

from – PragerU

Fact: America’s national debt stands at $17 trillion. That’s a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000. On top of that you have to pay them about $4,000 per year in interest. You are bringing in $150,000 per year, but you are spending way more than that. How are you going to ever pay back that $200,000 debt? And what happens if you default? Well, that is America today. The problem is clear


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HAM
6 years ago

Tina, (PaulO)…TROLL. Haven’t seen you offer any solutions, just defend the same Liberal/Progressive positions and attack anyone who doesn’t share your opinions. Have a nice day.

Tina
6 years ago

I love these wingers who post on AMAC NO ideas No solutions just “That is where this country is heading if we don’t get our spending under control.” I’ve heard more intelligent responses from a junior high student.

Where do you want to cut spending? Our $600 billion military budget? How about Social Security for us old folks? How about Medicare, we could just shake it off every time we get an ache or pain.

You people with NO solutions or ideas please stop and THINK about what you type before you hit the enter button.

Rik
6 years ago
Reply to  Tina

Solutions? … How are you living? … Do YOU spend more each week than you make? … You want solutions? … How about Obama spending hundreds of thousands EVERYTIME he jets off to play golf or to go visit places like Kenya (oh, that’s right, who wouldn’t want to visit THEIR birthplace?) and the same with Mrs. O. … How about ALL those “cushy” government jobs HE created, like hiring 12,000 attorneys for the IRS to help administer Obamacare? … If we eliminated one half of government jobs the savings would be in the millions! … Of course, if Obama had REALLY helped the economy by creating jobs instead of destroying them, people would be working instead of collecting welfare benefits. … How much of OUR taxpayer monies are being spent on ALL those “illegals” , err, new Democratic voters, to take even more jobs that Americans should be doing? … Do you really need more examples of government cost cutting? … Tina, typical Progressive Communist, brainwashed or just not capable of having any common sense!

HAM
6 years ago

Government borrows to pay the shortfall and continue unrestricted spending …same as someone using one credit card to make the payment on another credit card…then continuing to purchase items on other credit cards. I actually heard a guy I worked with when I was in my 20’s say he was doing that. I remember thinking that was the stupidest thing I had ever heard. Later he had to file bankruptcy. That is where this country is heading if we don’t get our spending under control.

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