Can anyone explain this?

[vatz22au 142]

You owe $145,000. And the bill is rising every day. That's how much it would cost every American man, woman and child to pay the tab for the long-term promises the U.S. government has made to creditors, retirees, veterans and the poor.

Here

Is this a very bad thing for us in the future? How will this type of debt be cleaned up for future generations? Will this all come crashing down on our economy in a couple of years?

[TexasTiger 13,016]

You owe $145,000. And the bill is rising every day. That's how much it would cost every American man, woman and child to pay the tab for the long-term promises the U.S. government has made to creditors, retirees, veterans and the poor.

Here

Is this a very bad thing for us in the future? How will this type of debt be cleaned up for future generations? Will this all come crashing down on our economy in a couple of years?

176611[/snapback]

Explanation: Republicans are no longer conservatives, fiscal or otherwise. They control all levers of government, but can't manage money. They don't really care about the future or the country, only maintaining power. Yeah, we're screwed.

[WarTim 3,457]

Left wingers control the "media" and can say anything they wish without any facts getting in the way of their lies.

Short and simple ......

[TexasTiger 13,016]

Well, Vatz, except for Timmy's standard whine about the librul media, blah, blah, blah, denial, I guess no one else had much to say.

[WarTim 3,457]

Corrrection. You mean "Timmy's" TRUTH about the liberal media.

That's the ticket!

[DKW 86 7,440]

I'll take a stab at it.

I am conservative and feel very much betrayed by those at the Federal level.

Bush is president, IMHO, because the Dems ran two complete nincompoops, I invented the Internet, I criticize Big Oil and Big Tobacco even tho my family has ties going back many decades to both, Al Gore. And I was in Cambodia at Christmas even tho my Band of Brothers tell everyone, including the Press I am lying John Kerry.

[Piglet 0]

We get the government we deserve. Americans want the government to give them all kinds of goodies, and they don't think they should have to pay any taxes to pay for it. And they reward politicians who lie to them and encourage them to believe they can have it all for free.

used to be, Democrats were the tax and spend party, and Republicans were the cut spending and cut taxes party. So you had a choice. Not any more. Republicans no longer want to cut spending and Democrats no longer want to raise taxes, because they lose elections that way. So both parties are now the borrow and spend party. It's easy to be popular in the short term by being an economic idiot, spending beyond your means and giving away goodies to everyone. The trouble comes when you get the bill later. Except with politicians, the politicians don't have to pay the bill. They pass it on to the next Congress or Administration to deal with.

People need to understand that deficit spending is a tax increase in disguise.

[vatz22au 142]

Is this a very bad thing for us in the future? How will this type of debt be cleaned up for future generations? Will this all come crashing down on our economy in a couple of years?

Are there any answers to those questions?

[AUloggerhead 2,253]

Is this a very bad thing for us in the future? How will this type of debt be cleaned up for future generations? Will this all come crashing down on our economy in a couple of years?

Are there any answers to those questions?

177124[/snapback]

Yes, there are:

1. Very bad thing for us in the future? Yes, and no.

2. How will debt be cleaned up? It won't ever be zeroed out.

3. Crashing down on the economy in a couple of years? No, not a couple -- more like 10 or 15 when Medicare & SS go bankrupt.

Personal debt was cited as a major problem for Americans in that article too. Vatz, the best thing you can do is put your own finances on firm ground. Be consistent about saving a portion of your salary and invest that money wisely. Over time, compound interest & your investments will work wonders for your financial situation. Above all, be patient because it takes time. Live within your means & don't overextend yourself with personal debt. Credit cards are wonderfully convenient but if you don't pay off what you bought with them the monthly interest charges will eat you alive. I use my credit card all the time but I NEVER pay any interest.