USA $20 Trillion in the Red by 2020.

Discussion in 'The Intelligence Cell' started by AIR FILTER, Nov 8, 2012.

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  1. Forecasters predicting that the USA will be $20 trillion in the red by 2020.

    If this is true, what will be the knock on effect for the United Kingdom ?

    US debt to hit $20 trillion by 2020
  2. They'll just print money
  3. Given that it was 14 trillion last year and 16 trillion at the moment (which is way over their panic mark), I believe it will only be a couple of years before the 20 mark is hit, so god knows what it will be in 2020.
  4. 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.
  5. The US of A - brought to you by their sponsors, China.
  6. 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%.
  7. How can the USA claim to be a super power with this magnitude of debt hanging around it's neck ?
  8. It can't - Obama would be well advised to read Gibbon's 'Decline and Fall'...
  9. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    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 :)
  10. 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.
  11. They could even half their enormous spend on healthcare and get a far better service into the bargain!
  12. Maybe this is a clever way of forcing the Chinese to revalue their currency upwards.
  13. $20T? You ain't seen nothing yet! Obama's just getting into gear!