U.S. Debt: Spending Gone Wild - Page 2
Another massive problem is US politics. The US government needs to stop bickering and pointing fingers over economic issues. The two sides, Republicans and Democrats, need to work together to save the US economy. Forget about politics and think about the country and the world as a whole. And the ONLY way to clear debt is either to cut spending or find another source of income. Perhaps this is what the US needs, a rich aunt who leaves them a trillion or two. Or try this, maybe a compromise (shutter at the thought) - cut back some government spending and raise taxes slightly for those who can afford it. Or better yet how about those rich citizens and corporation who've gotten away for decades without paying any tax. But this has to be an American solution.
Is the US economy going to collapse? Probably not. It's too big and too many countries depend on it. Everyone wants to invest in the US, especially China because the US is the ONLY economy large enough to hold their enormous trade surplus. A collapse of the US economy would surely mean the demise of their economy. The US is and always will be triple A economy but be careful because he who pays the piper plays the tune.
P.S. want to see something really scary - go here