Musicmystery -> RE: U.S. STILL BOMBING LIBYA (7/3/2011 7:20:11 AM)
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ORIGINAL: CountrySong quote:
ORIGINAL: Musicmystery Ah, no. In debt, yes. But we hold substantial assets. Substantial assets yes! The problem is those assets do not produce enough to pay off our debt. According to the CIA Worldbook per capita GDP was only $47,200 (https://www.cia.gov/library/publications/the-world-factbook/geos/us.html). Per capita debt is about $46,500 (http://www.usdebtclock.org/). We can not pay off our debt with what make. Assets are not liquid. What will we do sell off all of our national parks, mineral resources, and a few states? Oh wait, I forgot! That is what we are doing!!!! The world has us by the financial balls!!! Especially China, the can bankrupt the USA anytime they want. We know it and they know it. That gives then a lot of influence over our economy and our politics. Well gosh, maybe cutting taxes in half and quadrupling spending was a bad idea! Ya think? It doesn't make us broke, however--just reluctant to pay our bills. U.S. wealth tops $56 trillion. World-wide GDP is only $60 trillion. We could almost buy all the world's goods. Face it. We're rich. We just don't like to pay for shit.
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