Questions for the Americans

[Zevico]

Presently the American federal debt is at almost $15 trillion dollars.

1. Do you think it should be repaid?
2. If not, why?
3. If so, when?
4. Do you think a plan to repay the debt is wise?
5. If so, who, to your knowledge, has a plan to repay the debt and by when?
6. What do you think will happen if the debt goes unpaid?

[Tupac Shakur]

1. No.

2. **** you, that's why.

[Guynemer]

5. Tupac. Tupac for Emperor of All Time, Being, and Existence.

[giblets]

1. What does this mean? If this means "attempt to bring the debt level down to zero" the answer is no.
2. Do I need a reason? You won't even say why you want the debt repaid.
3. Never
4. No
5. No one, except maybe Ron Paul, but who cares
6. Not much.

[Zevico]

Do I need a reason? You won't even say why you want the debt repaid.

Do you know what bankruptcy is? Apply that on a national scale.

[giblets]

What do you mean by a nation going bankrupt and why would it result from the current debt level?

[Zevico]

A nation goes bankrupt when it is no longer able to pay its debts. When that happens your creditors in turn may be unable to repay theirs. And so on and so forth. The result is a massive loss of confidence in the financial system. Catastrophic and worldwide, given the US' importance to the global system. The alternative, putting more money into the system to pay off debt via legal fictions, is equally unfortunate.

Bankruptcy is a likely possibility when you accrue debt without a plan to pay it back. You don't have a plan to pay it back and you keep spending more and more money. The fact that your credit rating has been downgraded a direct consequence of this. People are losing confidence in the ability of the United States to so much as come up with a plan to repay the federal debt.

[giblets]

Sorry, I don't see how an expectation that the debt level will someday return to zero is necessary for the US to not default on its debts.

[Tuberski]

A nation goes bankrupt when it is no longer able to pay its debts. When that happens your creditors in turn may be unable to repay theirs. And so on and so forth. The result is a massive loss of confidence in the financial system. Catastrophic and worldwide, given the US' importance to the global system. The alternative, putting more money into the system to pay off debt via legal fictions, is equally unfortunate.

Bankruptcy is a likely possibility when you accrue debt without a plan to pay it back. You don't have a plan to pay it back and you keep spending more and more money. The fact that your credit rating has been downgraded a direct consequence of this. People are losing confidence in the ability of the United States to so much as come up with a plan to repay the federal debt.

Well don't those people look stupid now?

ACK!

[Zevico]

Sorry, I don't see how an expectation that the debt level will someday return to zero is necessary for the US to not default on its debts.

An expectation won't.

A plan and action taken to fulil it will.

[giblets]

No... the US can continue to pay the interest on its debt at its current debt level. Forming a plan to eliminate the debt is not necessary. You are wrong.

[Zevico]

Key word in that sentence is "current." You keep putting in trillion dollar deficits every year and we'll see how long that lasts.

[giblets]

Yeah, asking "does the US have a plan to balance its budget?" would have made you sound like less of an idiot.

[Provost Harrison]

I'm amazed KH hasn't stopped by to insult you yet Zevico

[DaShi]

Oh right, Zevico is the ****** I was thinking of before. Thanks for reminding me.