America: The Bankrupt empire?
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Keef
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We're getting there in a damn hurry.
As for paying off our debt, it's totally doable. The first step would be massive spending cuts, immediately. The next step would be even more cuts. It's going to get worse before it gets better, that's a fact, but we can decide whether we want to to be light, swift, and soon, or heavy and drawn out long into the future. The longer we wait to attack the problem, the worse the correction will hurt.
- 21,286
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- YSSMAN
- YSSMAN
It is a problem that isn't just financial. We're also ideologically bankrupt. More or less, we're teetering off the edge of global hegemony, and we're headed into a multi-polar system that will be ripe with instability until the next hegemon emerges. Although it seems quite likely that the US will maintain its military power, our economic and political power will falter greatly if we remain on the same path.
We can change. But we won't. Not until we're faced with absolute armageddon will it ever be a possibility.
We can change. But we won't. Not until we're faced with absolute armageddon will it ever be a possibility.
RTSolvalou
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Australia was in an ok-ish position through these last 5 years of financial problems, we were in the black, but then Julia Gillard spent ALL of the government's money and has gone on to plunge us into 200 billion dollars of debt.
As for the U.S., I notice more and more people are noticing that their empire is in it's last chapter. And on top of that, I doubt they can scrounge the funds to invade Iran, since they are the new thorn in America's back. Iran is holding a strong hand right now.
As for the U.S., I notice more and more people are noticing that their empire is in it's last chapter. And on top of that, I doubt they can scrounge the funds to invade Iran, since they are the new thorn in America's back. Iran is holding a strong hand right now.
Dapper
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http://www.nationmaster.com/graph/eco_gdp-economy-gdp-nominal
http://www.wrsc.org/attach_image/size-gdp
http://pacifictycoon.files.wordpress.com/2011/01/gdp-pie-chart5.jpg
The US is not even remotely close to being bankrupt, quite the opposite really.
http://www.wrsc.org/attach_image/size-gdp
http://pacifictycoon.files.wordpress.com/2011/01/gdp-pie-chart5.jpg
The US is not even remotely close to being bankrupt, quite the opposite really.
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Schwartz
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Its pretty much a foregone conclusion that China will be the next world superpower. As for America... I don't even know whats up with us. It seems we don't understand that spending money = more debt. Or maybe its just Obama (but we'll save that bit for later). I think it is better to be optimistic about the money situation rather than just jump to conclusions about how America will die. Its totally possible to pay this debt off, we just have to stop arguing about it and pull together as a country.
Dapper
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http://pacifictycoon.files.wordpress.com/2011/01/gdp-pie-chart5.jpg
http://www.usgovernmentdebt.us/spending_chart_1792_2014USk_10s1li0181216_598cs__US_Real_GDP_Chart
The debt is not growing faster than the gdp. What is so worrisome? The US gdp even grew through the recession. A 39% tax rate on top incomes and no wars in Iraq and Afghanistan and there would be a negligible debt.
http://www.usgovernmentdebt.us/spending_chart_1792_2014USk_10s1li0181216_598cs__US_Real_GDP_Chart
The debt is not growing faster than the gdp. What is so worrisome? The US gdp even grew through the recession. A 39% tax rate on top incomes and no wars in Iraq and Afghanistan and there would be a negligible debt.
- 22,551
- Arizona
- HamiltonMP427
Crumbling empire is a fitting title I'd say.
- 12,389
- Betelgeuse
- Beeblebrox_237
I think America is crumbling for the sole reason that people don't want taxes. We need high taxes to pay off our debt. If we don't, we'll default and have to pay even higher taxes.
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ROAD_DOGG33J
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That won't do anything if they don't decrease costs.
The problem is that the politicians seem to be focused on their deep pockets and more power, instead of performing just the necessary functions to keep the country running well. They should all be tried for treason.
Joey D
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This x1000.
Politicians don't run the country anymore, they use politics for their own gain and don't really give a damn what the outcome is. I mean they set for life financially so why bother helping anyone else? Then you have partisan politics where if one side, by some miracle of God, comes up with a good idea, the other side shoots it down because it was proposed by the opposing side.
If the idiots in Washington were actually for the people, by the people, there wouldn't be an issue. But as it stands now they are for their wallets, by the lobbyists.
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They don't seem to understand that their job is to do what is best for the American people.
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You know what really kills me is when Foreigners come here and think America is still this great country as if we just won WWII yesterday. They don't realize or care to understand why American who have been here and are informed loathe or dislike the way the Government operates.
- 904
- orlando,FL,USA
We don't need taxes, let alone high taxes to pay off the debt. What america needs is to live within its means, that mean cutting unconstitutional goverment programs and regulation i.e. ending the welfare-warfare state. Not that, but also ending these stupid sanctions and embargos against countries because they do nothing but cut-off the ability for jobs to be created in america.
anyhow even more proof america is an bankrupt empire...reality is finally catching up:
http://www.kentucky.com/2012/01/04/2015892/pentagon-to-unveil-plan-guiding.html
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all empires crumble as a result of being bankrupt.
- 22,551
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- HamiltonMP427
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Disenfranchised citizens all over the nation is one clue that the system is failing and people want it fixed, rebuilt or just done with. You and I know that there is no new outlet that would post if the U.S. is truely failing. We can also look at china who is manipulating the market, but more so controlling it and we're paying the price along with others. That's just a small bit of why.
Dapper
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I'll agree the 'system' that is the US government is failing a lot of citizens. But that is in no way an indicator of the US coming to an end or anything of like that, it is just a sign that legislation needs to be tweaked in my opinion.
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Tweaked is being nice I would say to be honest. It's a much bigger change obviously the system is being cheated by companies, u.s. officials as well as others is huge. The nation will still be America but the citizen see America failing in the name and day of Government. Same goes with other empires as well.
RTSolvalou
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You may end up having America split into fragments (like the east/west Germany scenario, only there'll be more of them), the well-to-do states would rightly so want to cut the butt-draggers loose and unify with other well-to-do states.
People are just going to get wiser to the situation and try to preserve the condition of their own state by lobbying for a split.
You wouldn't want people who contributed to the poor condition of their state simply moving to yours would you.
It's all not likely, but a fun possibility.
People are just going to get wiser to the situation and try to preserve the condition of their own state by lobbying for a split.
You wouldn't want people who contributed to the poor condition of their state simply moving to yours would you.
It's all not likely, but a fun possibility.
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