9 Trillion dollar debt

[routerider]

Our national debt is out of control.

WASHINGTON (AP) -- The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.
The bill passed by a 52-48 vote. The increase to $9 trillion represents about $30,000 for every man, woman and child in the United States. The bill now goes to President Bush for his signature.



http://www.cnn.com/2006/POLITICS/03/16/congress.debt.ap/index.html

[Eagle1]

like a kid with a no-limit credit card and no one accountable for the bill

damn government needs to get hold of itself before we get fed up and do it ourselves

[Rhino]

...to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.Pure, unadulterated bullcrap! Do they really expect anyone with a brain to believe that T-notes would not have defaulted all the countless other times the debt limit was raised? Biased, partisan reporting from CNN again.

[The_Sonarman]

Pure, unadulterated bullcrap! Do they really expect anyone with a brain to believe that T-notes would not have defaulted all the countless other times the debt limit was raised? Biased, partisan reporting from CNN again.

All true.... I just wonder when the fun party is going to end, and how it will end. Someday, the Chinese, Japanese and other foreign entities are going to tire of purchasing Treasuries to keep the US Spring Break party going.

[DesertFox]

Except that the Japanese are even worse off that way than we are. According to what I've read, they have been floating on a sea of paper since the Fifties, doing exactly what Enron did -- refinancing each time a loan came due, or selling more stock, or selling the company to a takeover artist -- anything to keep at bay the day of ultimate reckoning. It's been going on now for fifty years. :(

[The_Sonarman]

Only too true, DF.

I just hope "TS is completely wrong", and the broken wagon can be fixed.

[Jester21]

Japan's debt is largely to its own people, not other countries. They may be slightly less likely to pull the rug out from underneath the economy.

But I agree, Japan's in a world of hurt right now.

[Teenager]

Argggg! I wish the Senate would stop this madness! Stupid people!