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Could America go broke?

Crabtownboy

Well-Known Member
Site Supporter
I probably will not be around by the time this could happen.

The idea that the government of a major advanced country would default on its debt -- that is, tell lenders that it won't repay them all they're owed -- was, until recently, a preposterous proposition. Argentina and Russia have stiffed their creditors, but surely the likes of the United States, Japan or Britain wouldn't. Well, it's still a very, very long shot, but it's no longer entirely unimaginable. Governments of rich countries are borrowing so much that it's conceivable that one day the twin assumptions underlying their burgeoning debt (that lenders will continue to lend and that governments will continue to pay) might collapse. What happens then?

http://www.washingtonpost.com/wp-dy.../11/01/AR2009110101704.html?hpid=opinionsbox1
 

targus

New Member
I probably will not be around by the time this could happen.


But weren't you in favor of all the borrowing and spending while it was happening?

Aren't you in favor of the health scare bill that will result in yet even more borrowing and spending?

Why the sudden concern over the debt?
 

Crabtownboy

Well-Known Member
Site Supporter
But weren't you in favor of all the borrowing and spending while it was happening?

No

Aren't you in favor of the health scare bill that will result in yet even more borrowing and spending?

No

Why the sudden concern over the debt?[/QUOTE]

I have always been a fiscal conservative, unlike modern Republicans. Regan and Bush both spent like drunken sailors.

I guess you missed my posts a year or so ago when I said, "I am a traditional Republican when it comes to money."


















 

Bro. Curtis

<img src =/curtis.gif>
Site Supporter
So tell us your health care plan, and how it differs from what's being offered by the Dems.

I've told you mine.
 

Bro. Curtis

<img src =/curtis.gif>
Site Supporter
Actually, never mind. You offered yourself a get-out-of-jail-free card with your "Christians don't care" screed.
 

OldRegular

Well-Known Member
Regan and Bush both spent like drunken sailors.
Regan actually was not president, He was President Reagan's chief of staff. Actually it was the democrat Congress under President Reagan that spent like drunken democrats. Every budget he sent up they declared dead on arrival.

Reagan accomplished the defeat of the Soviet Union without firing a shot and that over strong democrat objections.


















[/SIZE][/QUOTE]
 

windcatcher

New Member
Some say the printing presses are already printing the 'money' to pay just the interest on the debt. Considering the debt load we're in, I would be more surprised if this was just talk instead of being true.

I think our country is already broke. The 'bailouts' are really a shell game. "Our" government is completing one of the last things corrupt power does before being deposed or drastic and chaotic change..........robbing its own people of their wealth and prosperity.

What passes for currency as USD is really not owned by the USA; It is a product of the Federal Reserve which is an arm of the IMF: Every bill has the notation 'Federal Reserve Note" and is 'legal tender' as opposed to 'lawful tender' for the debts. We trade the hours of our labor for debt instruments called 'Federal Reserve Notes" which are the product of a foreign interest marketed and bought by our government outside the authority and control of our constitution: Everything we've labored for and purchased with these instruments of debt has been purchased with the IOU's of our government's agreement with the Federal Reserve and the international bankers behind it. We've been living in a fantasy world and by the time we wake up to the nightmare to realize its gone........ most will not realize what happened.

Sleep on sweet dreamers and enjoy the dream as long as you can: You would not wish to know that they own it all including you!

For those who do or will face the truth....... God is our only hope! There is no confidence in man nor the instruments which man devises in his attempt to replace God. The confidence men may think they 'own' us, but only God has the claim of the creator and provider, and each of us is given the choice to trust him.
 

Aaron

Member
Site Supporter
For those who do or will face the truth....... God is our only hope! There is no confidence in man nor the instruments which man devises in his attempt to replace God. The confidence men may think they 'own' us, but only God has the claim of the creator and provider, and each of us is given the choice to trust him.
God gave birth to this Nation, and only He can preserve it.

O, thus be it ever when freemen shall stand,
Between their lov'd homes and the war's desolation;
Blest with vict'ry and peace, may the heav'n-rescued land
Praise the Pow'r that hath made and preserv'd us a nation!
Then conquer we must, when our cause is just,
And this be our motto: "In God is our trust"
And the star-spangled banner in triumph shall wave
O'er the land of the free and the home of the brave!
 

HankD

Well-Known Member
Site Supporter
I know this Scripture was given to Israel as a nation:

2 Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

But don't we, the citizens of the New Jerusalem surely have the ear of God our Father in a better way than they?

Hebrews 8:6 But now hath he (our High Priest) obtained a more excellent ministry, by how much also he is the mediator of a better covenant, which was established upon better promises.

1 Peter 4:7 But the end of all things is at hand: be ye therefore sober, and watch unto prayer.


HankD​
 

Johnv

New Member
Being a student of history, it's interesting that a lot of the arguments made here are similar to those made in the years surrounding the Great Depression.
 

ccrobinson

Active Member
Johnv said:
Being a student of history, it's interesting that a lot of the arguments made here are similar to those made in the years surrounding the Great Depression.

Interesting. I'm not as well versed about the Great Depression. Could you elaborate a little bit, Johnv? Or maybe there's a link that you could provide that would help me get more educated? I would appreciate it.
 

OldRegular

Well-Known Member
Interesting. I'm not as well versed about the Great Depression. Could you elaborate a little bit, Johnv? Or maybe there's a link that you could provide that would help me get more educated? I would appreciate it.

Obama and the democrats are following the same policies of FDR which extended the depression until we got involved in WWII, Tax and Spend.

This time, however, it appears that the democrats and Obama intend to complete what FDR started, convert the United States into a third world Socialist nation.
 
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