Do you understand how much federal debt has? Add in state debt? Average that for each man, woman and child?
Yeah, I spent a long time arguing this with people a few months ago on a mailing list. And in the end, it turns out that it's really not that much. I've worked out the numbers, based on http://www.usdebtclock.org/ and other sources, and it turns out, we could easily pay off the entire debt in 10 years if we *wanted* to. It would just require every American to take a 10% paycut for those 10 years. However, the real question is, why would we want to? Paying the debt off is not something that would be desirable for anyone (either us or for our investors) so it would make no sense to do or even consider. Again, it would be the equivalent of a company buying back all of its stock from its stockholders... not something any company would ever do.
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Do you understand how much federal debt has? Add in state debt? Average that for each man, woman and child?
Yeah, I spent a long time arguing this with people a few months ago on a mailing list. And in the end, it turns out that it's really not that much. I've worked out the numbers, based on http://www.usdebtclock.org/ and other sources, and it turns out, we could easily pay off the entire debt in 10 years if we *wanted* to. It would just require every American to take a 10% paycut for those 10 years. However, the real question is, why would we want to? Paying the debt off is not something that would be desirable for anyone (either us or for our investors) so it would make no sense to do or even consider. Again, it would be the equivalent of a company buying back all of its stock from its stockholders... not something any company would ever do.