USA $20 Trillion in the Red by 2020.

#5
I was talking to someone who works in the city and he said that basically the US of A is bankrupt !! They will just keep printing money though ! He also said that unlike the UK, there is no bottom to the US economy. At least the UK, although in a lot of debt, has the long-term ability to meet most of it, unlike the US, who cannot possibly begin to pay off £20Trillion.
 
#6
The US of A - brought to you by their sponsors, China.
 
#7
On the wireless earlier someone was talking about Dec 31st 2012. It's when all the U.S tax breaks cease and the spending cuts start. Experts think the U.S GDP could shrink by up to 4%.
http://www.bbc.co.uk/news/business-20237056
 
#8
How can the USA claim to be a super power with this magnitude of debt hanging around it's neck ?
 

Grumblegrunt

LE
Book Reviewer
#11
they could probably slap a one off property tax on the wealthy and pay it off with a few trillion to spare.

mind you they could also treble the price of gas while giving vouchers to those earning under say 80k a year.

they could also tax the states extra based upon the colour red :)
 
#12
Probably taxing energy would have the dual benefit of raising cash to eliminate debt, and reducing the absolutely insane energy profligacy and waste in the states.
 
#13
They could even half their enormous spend on healthcare and get a far better service into the bargain!
 

Travelgall

LE
Kit Reviewer
#14
Maybe this is a clever way of forcing the Chinese to revalue their currency upwards.
 
#16
They made a massive profit from the first two world wars. Time to start a third?
 

Grumblegrunt

LE
Book Reviewer
#20
For that to happen, your talking about changing this superpower nation's whole ideology. :)
ooh you mean something radical like democracy?
 

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