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What exactly is national debt ? dose that mean like every ones mortgage or car loans ? |
What exactly is national debt ? dose that mean like every ones mortgage or car loans ? Hey:) I took the liberty of researching this fully. I hope it's of some help to you :) Government debt (also known as public debt or national debt) is money owed by any level of government; either central government, federal government, municipal government or local government. As the government represents the people, government debt can be seen as an indirect debt of the taxpayers. Government debt can be categorized as internal debt, owed to lenders within the country, and external debt, owed to foreign lenders. Governments usually borrow by issuing securities such as government bonds and bills. Less credit worthy countries sometimes borrow directly from commercial banks or supranational institutions. Some people consider all government liabilities, including future pension payments and payments for goods and services the government has contracted for but not yet paid, as government debt. Another common division of government debt is by duration. Short term debt is generally considered to be one year or less, long term is more than ten years. Medium term debt falls in the middle. The national debt is comprised of monies that the US government owes, in the form of bonds, to cover budget overruns and other discretionary funding. i think that national debt is the Trillionsof dollers the government spend on our behaf ! U know like spending $500,000.00 on say 3 rolls of toilet paper for the white house becouse somebody has GOT to have extre extra soft paper. ( very sensative i guess ) lol Oh god, No. The national debt, has to do with how much money we send to China, so that we can pay them to make things cheap for us. It has to do with how much we import versus how much product we export. So since we import more than we export, more of our money is going out the door. Who cares that we send millions of dollars for free over to smaller nations, even though we can't pay off our own debt, at least we don't have to make our own pants. Food for thought. Economics 101 Essentially, it's the money spent each year that the government sells bonds to get. A government bond is bought by a citizen with the promise that it will be paid back with interest in a certain number of years. Usually what the government does is to pay these bonds off, they print more bonds. No. The national debt is the amount of money the government owes. That number is currently about $8 trillion. Everyone's mortgages and car loans are referred to as consumer debt. Some years the government spends more than it takes in. This is referred to as a budget deficit. The national debt is just the sum total of all the budget deficits. The government has managad to balance the budget about 3 or 4 years in the last 50 years. They issue treasury bonds to cover their excess spending. As these bonds mature they have to be paid off. A lot of these bonds have maturities of 30 years, so the people receiving the benefits now will not have to pay back the money. That responsibility will be passed to workers 30 years from now. This is a convenient way for people to get what they want today by essentially selling their children into slavery in the future. Fortunately, not many people understand this, especially younger people. If they did, they'd be really mad! We've stolen their future and can't pay it back. They will be much poorer than the current generation. |
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