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Dr. Bob is Robert Hsiung, MD,
bob@dr-bob.orgShown: posts 1 to 3 of 3. This is the beginning of the thread.
Posted by rjlockhart37 on December 7, 2012, at 21:31:30
i've been reading that debt just increased by 2 trillion again for the US. We borrowed from other countries.... what happens when it goes bankrupt...living on loans from other countries, i don't how exactly it works...but it doenst sound good, pay off all the debt and start off and be independent in outown currency...can anyone explain this better? politcs, economy...
Posted by europerep on December 8, 2012, at 10:34:09
In reply to US debt..., posted by rjlockhart37 on December 7, 2012, at 21:31:30
Don't worry, your country still is the world's #1 economic power. By far. If your representatives in Congress get their act together, the whole debt and deficit issue could disappear much more quickly than many people are thinking (and than some people are trying to make others believe).
Posted by baseball55 on December 8, 2012, at 18:47:43
In reply to US debt..., posted by rjlockhart37 on December 7, 2012, at 21:31:30
We borrow in our own currency and can print dollars to pay the debt. It's different from Greece borrowing euro, which they don't print. Right now the interest rate (after inflation) on US debt is negative. People are paying the government for the privilege of lending to it. Banks and other wealthy people want to hold US debt. It's as safe as holding dollars. No default risk. It's really not a problem at all. Conservatives make it a problem because they want an excuse to cut Medicare, Medicaid and Social Security, cuts that most people oppose. But scare them with this boogy-man of the "debt" and, the hope is, they will accept cuts in programs that they support.
This is the end of the thread.
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Dr. Bob is Robert Hsiung, MD,
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