US Debt Crisis.
Forums › General Discussion › US Debt Crisis.-
'In a sign of the level of anxiety over the issue, troops in Afghanistan asked Admiral Mike Mullen if they would be paid.
The admiral, who as chairman of the Joint Chiefs of Staff is on a visit to southern Afghanistan, said he did not know whether that would be the case if the US fails to raise the $14.3tn (£8.7tn) limit by 2 August.'
Is this how bad it is?! -
Johnny Cage wrote:
Everybodies running, what's going on in the kitchen, but I don't know what's cooking, they say I got to learn but no body's here to teach me,...Coolio wrote:
Power and the money, money and the power, minute after minute, hour after hour....I see in the news today that Apple now has more cash than US treasury.
US treasury has 44.8B in cash on it's books compared to Apples 46.3B
News also claims the US is currently spending 122B more than it collects in tax revenue each month!
How long can this go on -
bazboffer wrote:
Where did they report that? That's awful news'In a sign of the level of anxiety over the issue, troops in Afghanistan asked Admiral Mike Mullen if they would be paid.
The admiral, who as chairman of the Joint Chiefs of Staff is on a visit to southern Afghanistan, said he did not know whether that would be the case if the US fails to raise the $14.3tn (£8.7tn) limit by 2 August.'
Is this how bad it is?! -
It's true, it could happen to the entire Federal Government. "Could" being the key word, but if it helps you sleep better from the same article came this:
"Some financial organizations that service military clients, like USAA and the Andrews Federal Credit Union, have stepped up to say that they will advance pay if there is a default."
Most Military have these types of services, I know I do, so even if this happens (worst case) the banks that earn their money off us will look after their own till the Govt gets their head out of their ass.
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It's a BBC report. But I doubt it'll happen, most likely just being said to apply a little persuasion to the dithering politickers.
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🔥⚡S1dшжSw1pш⚡🔥 wrote:
No but by him raising taxes on them each individual citizen wont have to pay off as much money. Currently each american has to pay over 50k age 0-100carl johnson wrote:
R u a millionaire/billionaire?Obamas raising taxes on millionares and billionaires
If not, then why care. -
If your in debt you can declare yourself bankrupt an restart an although I'm probably gonna get many reasons why not, I personally can't see why a country can't do the same? It would do both the us an uk a huge favour an there would be no need for high taxes!
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*PABLO* wrote:
If you're the country/bank that's owed the money then your screwed.If your in debt you can declare yourself bankrupt an restart an although I'm probably gonna get many reasons why not, I personally can't see why a country can't do the same? It would do both the us an uk a huge favour an there would be no need for high taxes!
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Add swagger wrote:
Well that just isn't that easy...*PABLO* wrote:
If you're the country/bank that's owed the money then your screwed.If your in debt you can declare yourself bankrupt an restart an although I'm probably gonna get many reasons why not, I personally can't see why a country can't do the same? It would do both the us an uk a huge favour an there would be no need for high taxes!
Any bank or business that the US or UK owe money to would likely go bust too, they would then take out any business or bank that has any business with those banks.Or if grease were to go bank rupt then should the Uk, german and French banks should take parts of grease in payment? U wanna see the US or UK in that position?
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All we need to do is get cupcake to share that 1.0T he has.
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