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Really what caused the debt was giving banks back the money that they last on people filing for bankruptcy and all the welfare...20 percent of americans have food stamps..with the population increase and lack of jobs is ruining the economy because everyone is tooken care of with money that the government doesn't have...the rich needs taxed to keep the us currency...there is no such thing as an unforgiven debt...
What else can I help you with?
What government owns the largest portion of the US national debt?
US
What is a debt ceiling?
Debt ceiling is the limit on how much money the US Federal government can owe.
When before 1998 did the us government have a surplus?
well you see, we have actually never been in debt. the us government has always has a surplus, the myth of a debt and deficit is to increase spending because the government is just greedy.
What is the US federal government's current debt?
The current debt of the federal government of the United States of America is over 14 trillion dollars. See related link for a debt clock.
What are the average rates for a debt service in the US?
The average rates for a debt service in the US is 25% of GDP but previously it was 8.7%. The us government is now trying to repay their old debt by borrowing more.
Can the US government limit the national debt?
It can, by rational budget spending
Who is responsible for the US debt?
The U.S. government since the country was founded.
Why is corporate long-term debt riskier than US government long-term debt?
A significant part of the equation to evaluate risk of long-term debt is the reliability of the organization issuing that debt and the likelihood of paying back that debt. In most cases, investing in the US Government is a lower risk than investing in a corporation.
What is Mexico's debt level?
Government debt can be subdivided into two categories: external debt and domestic debt. External debt is the outstanding debt owed from the Mexican government to foreign governments (such as the United States or Europe), banks, institutions and individuals. Domestic debt is the amount of debt owed to Mexican banks, institutions and individuals within the country.Mexico's government debt can be broken down as follows:External debt: US$46,208.8 million.Domestic debt: US$192,218.7 million.Total Mexican debt: US$238,427.6 million.Now, the indebtedness level is the percentage of debt compared as a percentage of the total sum of products and services sold in the country within a year (also named Gross Domestic Product - GDP). Mexico's Gross Domestic Product is valued at US$788,840 million (est. 2009).Therefore Mexico's debt level is:5.9% of its GDP in foreign debt.24.4% of its GDP in domestic debt.30.3% of its GDP for total public debt.
What is the main cause for US debt?
At its simplest definition, if the government spends more then it gains, in a single year, then it has, what is called a 'budget deficit'. If there is a deficit, it adds to the US debt.
How much debt was added to the US government by the end of the US Civil War?
Although the US government did its best to finance the US Civil War by its normal tax measures, they were not enough to cover all of its expenses. As a result of borrowing funds, the US raised the US Treasury's national debt by $2.5 billion.
What theory occurs when the fed attempts to buy back the debt of the US government?
Inflation
