You need to realize the debts of the United States:
By Daniel at 18 July, 2009, 12:48 am
“GOVERNMENT DEBT
Federal Debt: $9 TRILLION
State & Local Debt: $2 TRILLION
Total Government Debt: $11 TRILLION
UN-FUNDED, OFF BUDGET DEBT $62 TRILLION
PRIVATE DEBT
Household Debt: $13 TRILLION
Business Debt: $9 TRILLION
Financial Debt: $14 TRILLION
Foreign Debt: $2 TRILLION
Total Private Debt: $38 TRILLION
SUM TOTAL DEBT
Government Debt: $11 TRILLION
Private Debt: $38 TRILLION
Unfunded Debt: $62 TRILLION
Total Debt: $111 TRILLION
”
http://www.financialsense.com/fsu/editorials/andros/2008/0611.html
These debts are huge to cause whole lot of crisis worse than this one. If we don’t start doing something about it now, The u.s government may need to prepare for the coming Tax-Revolt.
Which debt do you think it need pay off first? Raising tax for foreign debts? or lowering tax for people’s? Maybe we should regulate on “debt for expansion” companies…
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