Would things truly be different?
Or do you believe that the debt is just a number they try to scare us with?
Is there another more important issue facing America?How would life in America change if the National Debt was erased tomorrow?If the debt were erased, through payment of the debt rather than default, our standards of living would increase immeasurably. The value of the dollar would rise and the dollar would once again be the trusted standard of the world's economies.
On the negative side, the present government would immediately start a frenzied race to spend again.
You would be able to get even more YA points by answering your own questions.How would life in America change if the National Debt was erased tomorrow?Since the %26quot;debt%26quot; isn't actually money we owe now, it is bond obligations we WILL owe money on in the future, and half of it is held by China, I guess if it %26quot;vanished%26quot; overnight, China would have no real reason to promote continued wealth and stability in the US, and they could start bombing tomorrow afternoon. We may have %26quot;superior technology%26quot;, but there are so many Chinese that there is no way we could win that fight...How would life in America change if the National Debt was erased tomorrow?All depends on how it was erased.
Government just printed the money, inflation would shoot through the roof.
Government cut social programs out and simply stuck to it's Constitutional mandate, interest rates would fall and the market would zoom.How would life in America change if the National Debt was erased tomorrow?It would be great we could then go out and borrow ten trillion bucks and have a ball!
BTW you did mean to say %26quot;the US%26quot; when you said %26quot;America%26quot; right?
You do know that the US is a small part of America, right?How would life in America change if the National Debt was erased tomorrow?Things would not change. Obama would go hog wild and start spending again.How would life in America change if the National Debt was erased tomorrow?the second after it was %26quot;erased%26quot;, we would plunge deep into another oneHow would life in America change if the National Debt was erased tomorrow?Washington would go on a spending spree and in a few years we'd be right back where we are now.How would life in America change if the National Debt was erased tomorrow?The US would be able to start more wars. And increase giving away welfareHow would life in America change if the National Debt was erased tomorrow?We would have billions as the interest alone is staggering 50 billion a month in interest just to China.
