http://www.brillig.com/debt_clock/

 

And....

What are your thoughts on this? Odysseus used to get beat up a lot for posting stuff like this. This is really just a number to me.

 

It's all corporate America's fault, man. Evil corporation type shit. Down with the man, man!

 

What does the debt actually mean to us as citizens? I've read little to nothing. Just a number :dunno:

 

just a link. I thought it was interesting. Odysseus was beat up a lot because he didnt back his rants - not because he posted a link.

 

did you see that guy's' lego mosaic of starry night?

 

That's money that the government has borrowed. Raises the prime interest rate, for one. Also, it decreases the amount of money available from public and private lenders.

Third, since a lot of that money is heading to Iraq these days, you can't even argue that it's money that we "owe ourselves," as the government isn't borrowing to make domestic purchases.

 

So it basically has very little effect on the government, as long as the public and private lendors that lent the government the money keep on trusting the government's credit enough to pay them back and don't overthrow it. Basically. Right?

 

$30,000/sec :eek3:

 

Yes and no. Not all of it is borrowed from domestic lenders, and it can be argued that a high national debt has a devaluing effect on the dollar.


It has little effect on the government but does have some economic effects for the average citizen. Given that the government pays interest on the national debt, a handful of lenders are making a fortune directly from US tax dollars. (IMHO, one of the reasons why Republicans aren't too interested in paying it off.)