Is America about to go broke

they said on msnbc yesterday that the government would borrow half of every dollar it spends next year. i'm guessing that the money is mostly from China? wow

America isn't about to go broke, we are FAR beyond broke my friend.

I don't think that wars are simply to blame for this situation. There's more to it than that.

I would ague that the "land of the automobile" should have listened to the public and created vehicles with better mpgs rather than trying to get quick bucks with those gas guzzlers. I mean, the people who own those can afford it, the rest of the population needs vehicles that help their thirty nature. Maybe if these companies had done that instead of trying to sell vehicles the public obviously didn't want, taking the governments money, and eventually doing broke, the pickle we are in wouldn't be as sour as it is.

Feel free to add any other other ridiculous business decision the people in this country have made.

Go? Go broke? Are there levels of broke? I think we have passed the go point!

Its times like this i wish i knew more about macroeconomics... All i can say is that debt is an essential part of capitalism and that China by no means "owns" us.

We are broke. We have been broke for a long time. The rich and powerfull (Obama, Bush, Greenspan, Paulson, Geithner, Bernanke) have sold out America, litterally. This same tactic has been used many times against 3rd world countries to gain controll of their resources and put their people in debt bondage.

What is a U.S. Confederate dollar worth these days? Did missippi financial planners have people invest in more cotton fields for their retirement? To protect against inflation??? Probably.

When the dollar's value of any currency goes to zero (because of default) the inflation rate is INFINITE.

The US was already broke about the time That retarded chimp from Texas decided he wanted to cheat his way into the White house! Once he got in the White house, he spent more money then ANY president in US history!!! (That's not a joke!!!) The US government under Bush did some absolutely stupid stuff!!! As if war wasn't enough, here is a short list of some other stuff Bush spent tax payer money on!: A Tattoo removal clinic in California, Bed side lights in his moms house, Research on the sourness of onions, Blowing soap bubbles, Pig sweat research, A new gun, Payments for George Bush.com,A lot of toilet paper,A few dozen hair cuts...The list goes on,but it's very clear that the US government was just carelessly spending!

Do you mean along with Russia, England, Japan, China, and the rest of the civilized world or Just America?

Just FYI, this is nothing new. The Financial Report of the United States Government, issued by David Walker, Comptroller of the US, on Dec 15, 2006, declared us broke, and our financial course unsustainable. Documentation here:

http://financialsense.com/fsu/editorials/martenson/2006/1217.html

We will never go broke. We can just keep printing money out of thin air. Now...whether this money is worth anything or not, is another issue altogether...

Who Pays The Bills?

Who provides the profits -- these nice little profits of 20, 100, 300, 1,500 and 1,800 per cent? We all pay them -- in taxation. We paid the bankers their profits when we bought Liberty Bonds at $100.00 and sold them back at $84 or $86 to the bankers. These bankers collected $100 plus. It was a simple manipulation. The bankers control the security marts. It was easy for them to depress the price of these bonds. Then all of us -- the people -- got frightened and sold the bonds at $84 or $86. The bankers bought them. Then these same bankers stimulated a boom and government bonds went to par -- and above. Then the bankers collected their profits.

But the soldier pays the biggest part of the bill.

Who Makes The Profits?

The World War, rather our brief participation in it, has cost the United States some $52 billion. Figure it out. That means $400 to every American man, woman, and child. And we haven't paid the debt yet. We are paying it, our children will pay it, and our children's children probably still will be paying the cost of that war.

The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits -- ah! that is another matter -- twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent -- the sky is the limit. All that traffic will bear. Uncle Sam has the money. Let's get it.

Of course, it isn't put that crudely in war time. It is dressed into speeches about patriotism, love of country, and "we must all put our shoulders to the wheel," but the profits jump and leap and skyrocket -- and are safely pocketed. Let's just take a few examples:

Take our friends the du Ponts, the [gun]powder people -- didn"t one of them testify before a Senate committee recently that their powder won the war? Or saved the world for democracy? Or something? How did they do in the war? They were a patriotic corporation. Well, the average earnings of the du Ponts for the period 1910 to 1914 were $6 million a year. It wasn't much, but the du Ponts managed to get along on it. Now let's look at their average yearly profit during the war years, 1914 to 1918. Fifty-eight million dollars a year profit we find! Nearly ten times that of normal times, and the profits of normal times were pretty good. An increase in profits of more than 950 per cent.

Take one of our little steel companies that patriotically shunted aside the making of rails and girders and bridges to manufacture war materials. Well, their 1910-1914 yearly

WAR is a racket. It always has been.

It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.

A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small "inside" group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes. [See War Industries Board -- ed]

In the [first] World War, a mere handful garnered the profits of the conflict. At least 21,000 new millionaires and billionaires were made in the United States during the World War. That many admitted their huge blood gains in their income tax returns. How many other war millionaires falsified their tax returns no one knows.

How many of these war millionaires shouldered a rifle? How many of them dug a trench? How many of them knew what it meant to go hungry in a rat-infested dug-out? How many of them spent sleepless, frightened nights, ducking shells and shrapnel and machine gun bullets? How many of them parried a bayonet thrust of an enemy? How many of them were wounded or killed in battle?

Out of war nations acquire additional territory, if they are victorious. They just take it. This newly acquired territory promptly is exploited by the few -- the selfsame few who wrung dollars out of blood in the war. The general public shoulders the bill.

And what is this bill?

This bill renders a horrible accounting. Newly placed gravestones. Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability. Depression and all its attendant miseries. Back-breaking taxation for generations and generations.

For a great many years, as a soldier, I had a suspicion that war was a racket; not until I retired to civil life did I fully realize it. Now that I see the international war clouds gathering, as they are today, I must face it and speak out.

Again they are choosing sides. France an

The Wall under International Law

In its advisory opinion on 9 July 2004, the International Court of Justice stated that Israel is in breach of international law as the “construction of the wall and its associated regime cre-ate a “fait accompli” on the ground that could well become permanent” that there is a “risk of situation tantamount to de facto annexation”. Furthermore, “the construction of the wall severely impedes the exercise by the Palestinian people of its right to self-determination and is therefore a breach of Israel’s obligation to respect that right.” The Court also ruled that “the infringements resulting from that route (of the wall) cannot be justified by military exigencies or by the require-ments of security or public order".

Israel was further obliged “to cease forthwith the works of construction of the wall, to dismantle it” and to “make reparation for the damage caused” to all those affected by the construction of the Wall, and “to return the land, orchards, olive groves and other immovable property seized”.

The War in Iraq Costs
$667,971,243,205
See the cost in your community
nationalpriorities.org/index.php?option=com_wrapper&Itemid=182

the what.... 9 trillion in dept... is not enough to call the nation broke?....

the fact that china holds enough of the US dept to put a for sale on the white house lawn... nope, not broke here either right?

or how about several states are losing their civil service sectors becasue... they dont have money... nope thats not being broke either right?

or maybe the road system falling apart is a sign of a windfall of some more paper money that is not worth the paper or ink used to print it.