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Who or what is causing the mountain of debt USA is sitting on.

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16 Answers to "Who or what is causing the mountain of debt USA is sitting on."

  1. guidospeedo69 - 70+ years old - male

    Posted by guidospeedo69 May 6th, 2012 at 6:24PM

    40 years of excessive government spending coupled with an entitlement mentality of the American people

    Like (7)

  2. guidospeedo69 - 70+ years old - male

    Reply by guidospeedo69 May 6th, 2012 at 6:32PM

    You get the illusion that your vote counts. It doesn't and you don't. The game is fixed. It's a big party in Washington and we aren't invited.

    Like (1)

  3. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 6:36PM

    spend yourself out of debt???????? Thanks

    Like (1)

    4 more replies
  4. FlowersNButterflies - 51-55 years old - female

    Posted by FlowersNButterflies May 6th, 2012 at 6:26PM

    I watched a Netflix movie about that topic. They say Wall Street. Intentionally. To create massive income for a handful of financiers. Started by Reagan, who deregulated the banking industry, and it has been building speed even now, creating a disparate society.

    Like (3)

  5. ray1961 - 61-65 years old - male

    Reply by ray1961 Feb 28th, 2013 at 1:20PM

    started by LBJ who started robbing the social security fund to pay for his great society welfare and the vietnam war.. Also by Frank and Dodd when the refused to force 'Fannie May and Freddie Mac to force mortgages to be given only to those who could afford them, then they sold them as bundled securities which were worthless. They are all at fault.

    Like (1)

  6. FlowersNButterflies - 51-55 years old - female

    Reply by FlowersNButterflies Feb 28th, 2013 at 3:18PM

    Assigning fault changes nothing. It just "shoes" us how vulnerable and helpless we can be when another has an agenda to take away from the world rather than give to it. An ugly aspect of human nature that we apparently have never overcome... societies rise and societies fall. But now we can say it with nukes.

    Like (1)

  7. stankadiddlehopper - 51-55 years old - male

    Posted by stankadiddlehopper May 6th, 2012 at 6:24PM

    Wall Street and corporate America

    Like (3)

  8. DarknessCalls - 41-45 years old

    Reply by DarknessCalls May 6th, 2012 at 6:26PM

    Care to explain how private companies can run up public debt?

    Like (1)

  9. stankadiddlehopper - 51-55 years old - male

    Reply by stankadiddlehopper May 6th, 2012 at 6:29PM

    The CEOs and muckety mucks make so much money and ran their companies into the ground, then got bailout money while never cutting their own pay. That is at least part of it. And they sent so many jobs overseas that it's tough for Americans to find jobs, so the debt piles up in things like unemployment insurance, also. GREED by the higher ups.

    Like (1)

    4 more replies
  10. shyle38 - 26-30 years old - male

    Posted by shyle38 May 6th, 2012 at 9:26PM

    I'll give you 4 serious answers, because this is kind of a big complicated subject.

    #1. Entitlements for retirees. Medicare, Social Security, and an aging population that's living longer than expected mean we're handing out more checks to senior citizens than we ever imagined. This will really get bad when the baby boomers all retire. Social Security is a pyramid scheme where, by 2035, there won't be enough taxpayers to pay for all the old people collecting SSI.

    #2. The current depression we're in is hurting tax revenue. See the acclaimed documentary "Inside Job" to learn why it happened.

    #3. Lack of incentives control costs in the medical industry leads to healthcare costs rising 10% a year, creating huge hikes for Medicare and Medicaid.

    #4. The antitobacco agenda. The CATO institute published a study proving that smokers actually consume fewer healthcare dollars in total than the nonsmokers who live an average of 10 years longer. That's an extra 10 years of post-retirement upkeep paid for by Medicare, plus 10 years of SSI checks. This is a big part of the problem in #1 above.

    5. Last and least, the GOP taxbreaks have hurt government revenues, especially in the last 12 years. The Bush tax cuts were allegedly intended to grow the economy, but we got lousy growth, compared to the 50's and 60's when taxes were way higher. Reaganomics doesn't work, and Republicans whining about high taxes right when taxes fall to a 50 year low prove their fiscal ideology is broken. But really, this only accounts for 2 or 3 trillion. Solving this problem still wouldn't solve the deficit problem permenently, due to #1, #3, and #4 above. It merely advances our doom by a couple years unless we cut all those entitlements for old people.

    Like (2)

  11. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 9:33PM

    so send the old people to war. It's gonna be rough for me. No pension plan at my job. I'm most likely looking at old and homeless. Not a good combination.

    Like (1)

  12. revrndale - 61-65 years old - male

    Posted by revrndale May 6th, 2012 at 7:28PM

    Foreign Aid to every Tom , ****, and Harry in the world except Americans ..... Paying for education benefits and welfare programs for ILLEGALS in America ..... Allowing the Oil Cartels to dictate oil prices which affect our Gasoline Prices .....
    WE allow members of Congress to continue to draw salaries even after they leave office , with EACH one getting over $125,000 per YEAR salary ....

    Like (2)

  13. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 7:35PM

    the FDA board members can buy stock in the companies the apeove Food or drugs for.

    Like (1)

  14. revrndale - 61-65 years old - male

    Reply by revrndale May 6th, 2012 at 7:39PM

    Yes; the director of the FDA used to work as an executive for a major pharmasutical (sp) firm ....

    Like (1)

    2 more replies
  15. wayswin - 46-50 years old - male

    Posted by wayswin May 6th, 2012 at 6:27PM

    Congress's fear of not being re-elected....
    It's math.... They know how much the debt it, they know how much income the tax base makes.... set the tax rate to pay off the debt... and STOP giving subsidies to corporations that donate to your re-election funds.

    Like (2)

  16. jamesmethod - 56-60 years old - male

    Posted by jamesmethod May 6th, 2012 at 6:26PM

    In a Word GREED!

    Like (2)

  17. deltadon - 46-50 years old - female

    Posted by deltadon May 6th, 2012 at 6:26PM

    i can't prove it?!......but i'm pretty sure the Canadians are behind it

    Like (2)

  18. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 6:33PM

    It snowed yesterday

    Like (1)

  19. MadamsLee - 22-25 years old - female

    Posted by MadamsLee May 6th, 2012 at 6:25PM

    hmm..U.S government?? actions without proper reasons...

    Like (2)

  20. Durion23 - 18-21 years old - male

    Posted by Durion23 May 6th, 2012 at 6:24PM

    Mostly Bush and Obama

    Like (2)

  21. DarknessCalls - 41-45 years old

    Reply by DarknessCalls May 6th, 2012 at 6:25PM

    100% true.

    Like (1)

  22. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 6:34PM

    2 Bush's left all the debt and the country falling apart for Obama to fix. When the country is healthy enough the Republicans will r@pe it again.

    Like (1)

    1 more reply
  23. MtnMig - 36-40 years old - male

    Posted by MtnMig May 7th, 2012 at 12:47AM

    Bill Clinton transformed the first Bush's deficit into the largest surplus in American history.

    The second Bush's tax cuts to the top 5% cost $1,034,424,338,581
    (the nonpartisan Tax Policy Center).

    The Iraq war has cost thus far $803,342,428,600 and counting.
    The Afghanistan was has cost thus $526,259,800,900 and counting.

    In total the wars have cost thus far around $4 trillion on top of the Bush tax cuts which were the first in American history during a war.

    Ok, now how do you blame a $1.101 trillion deficit on the annual 400-700 billion spent on welfare after looking at the costs of bungled wars and tax cuts for the rich?

    Like (1)

  24. maple10 - 66-70 years old - male

    Posted by maple10 May 6th, 2012 at 8:12PM

    An administration that thinks it can borrow and spend it's way out of debt.

    Like (1)

  25. sharpTresHombre - 41-45 years old - male

    Posted by sharpTresHombre May 6th, 2012 at 6:48PM

    Bankers

    Like (1)

  26. drdrizzle - 41-45 years old - male

    Reply by drdrizzle May 6th, 2012 at 6:51PM

    Barbers, WTF. ooooooooo nevermind

    Like (1)

  27. sharpTresHombre - 41-45 years old - male

    Reply by sharpTresHombre May 6th, 2012 at 6:57PM

    WTF Barbers ?

    Like (1)

  28. CVizion - 70+ years old

    Posted by CVizion May 6th, 2012 at 6:44PM

    The government is representative of the populace..... for the last 20 years American citizens have over leveraged themselves and thought nothing of it... Some of those people work in government... and their personal philosophy extends to their job.

    Like (1)

  29. ScotsSphynx - 18-21 years old - male

    Posted by ScotsSphynx May 6th, 2012 at 6:38PM

    The Jew

    Like (1)

  30. puck61 - 51-55 years old - male

    Reply by puck61 May 7th, 2012 at 10:35AM

    Is that you Mr. "I hate Israel but do not hate Jews."

    Like (1)

  31. ScotsSphynx - 18-21 years old - male

    Reply by ScotsSphynx May 7th, 2012 at 10:57AM

    No its Mr i hate Jews because Jews are the downfall of this ENTIRE ******* GLOBE, FACT.

    Like (1)

    1 more reply
  32. OblivionsCreation - 18-21 years old - male

    Posted by OblivionsCreation May 6th, 2012 at 6:31PM

    ****** management of fiscal policy, governments need to think twice on how much they'll spend for the sake of maintaining economic growth -_-

    Like (1)

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