How does one get out of debt by borrowing more money?
10 Answers to "How does one get out of debt by borrowing more money?"
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I have a sudden urge to stand up and sing 'Oh Canada'
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LOL
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not at all surprised it's difficult to understand. first off, that isn't what happened. the debt ceiling was raised so we could go further into debt, if required. it was raised to allow the accumulation of interest not being fully paid to have room to accumulate. it was raised to AVOID a failing to pay which would cause ratings to go down,and interest rates to increase, thereby making it even harder to pay off. it was raised to maintain the best interest rate available. some could understand better by listening to the news, and whining less. it took a week or more to get clear answers from the news about what was going on. they were far too busy answering the day to day whines to get the big picture. with enough patience, the clarity of the whole concept becomes obvious.
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By causing an economic collapse of the currency, moving from a republic to a dictatorship, declaring war on all your neighbors, scapegoating a portion of your population, and forcibly lowering the standard of living for the War Effort!
Hey, it worked for the Weimar republic, didn't it?Like (1)
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You forgot to label your comment as sarcasm, now some airhead is going to quote your remarks as serious proposals.Like (1)
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Obviously you missed government 101 under the Obama plan, A. The government can create jobs, B. the government can pay its way out of debt by borrowing more money, and lastly C. congressmen and Senators can't balance their own checkbooks, how are they going to balance a budget?
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It depends on what you do with the money. When a business starts up it starts up in debt for instance so providing the money is used wisely it isn't an issue. Cutting spending isn't always a good idea, it puts people out of work which is the same as cutting the consumer ba
se, which in a consumer ba sed economy is no different from cutting your own throat. Like (1)
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And the U.S. Government has such a great record at making a profit from running bussinesses; NASA, U.S. Army, U.S. Navy, U.S.A.F., U.S. Marines, U.S. Coast Guard, U.S.G.S., NOAA, Woods Hole O.I., Federal Prisons, U.S. Postal Service, Amtrak, etc. and the Mustang Ranch.
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Which is probably why Obama just gave it straight to big business in the form of loans..........
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"On February 14, the Obama Administration released its proposed Fiscal Year 2012 budget for the federal government. As part of this budget, the Administration is seeking $553 billion in funding for the Department of Defense, not including funding for military operations in Iraq and Afghanistan or the nuclear weapons related activities of the Department of Energy."
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It doesn't.
I think they should repossess whatever the government isn't paying for just like they do everyone else!
:oP
Seriously.Like (1)
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Hi Creamsicle, And who, exactly, will do the repossessing?Like (1)
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The people that are owed the money for all those nice government vehicles, buildings or anything else material that can be taken back.
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You don't I'm gonna guess this is an economy question the us needs money and we need it from somewhere
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Best Answer (Chosen By Asker):
Posted by maple10 Aug 3rd, 2011 at 4:49PM
I've read everything on this page and I still cant see a way that you can get out of debt by borrowing more money to make the payments on all the other money you borrowed. Right now the US spends 47 cents of every dollar it takes in to service the debt, what happens when it goes over 50 cents, you accumulate debt faster than you can pay it off . What do we do then? what happens when Obama borrows and spends the 2.4 trillion dollars the congress just handed him. What do we do then? Looks to me like they are just throwing good money after bad.
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Reply by OrionsSword Aug 3rd, 2011 at 11:13PM
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Reply by maple10 Aug 4th, 2011 at 12:22AM
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