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alstry (35.42)

Who Is Responsible For The Nation's Debt?

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August 10, 2010 – Comments (3)

You hear guys bragging in America about how rich they are......or how much money they made in the stock market......or how much they make as a doctor.....or lawyer......or business executive....or how they are set with their secure pension or retirement account.......

Unfortunately, all of the above are in their current position because our nation has run up a massive debt......a debt never seen before in World History.....

....and we have now seen what happens to America when credit is cut off.....in residential real estate......construction dropped over 85%.

Our society's wealth, functioning and perception of a strong economy is simply the derivative of massive borrowing......and now that we have accumulated all this debt to drive this island of prosperity.......who will take responsibility to pay it back?

The politicians that created it?

The citizens who were too apathetic to watch over their leaders?

Those that benefitted the most from the debt.....the rich?

All of the above......or do we go to war to control the wealth of others to pay back the debt?

3 Comments – Post Your Own

#1) On August 10, 2010 at 9:02 AM, alstry (35.42) wrote:

Wal-Mart Stores Inc has raised average prices at its stores by about 6 percent in a month, according to a recent study in Virginia.

A check by J.P. Morgan Securities said average prices at the Wal-Mart Supercenter in Virginia were upped by 5.8 percent, the most significant sequential increase since it started the study in January 2009.

http://finance.yahoo.com/news/WalMart-prices-on-the-rise-JP-rb-3284643011.html?x=0&sec=topStories&pos=5&asset=&ccode=

IS THIS A TREND.......?

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#2) On August 10, 2010 at 9:10 AM, alstry (35.42) wrote:

Are federal workers overpaid?...

One wonders how federal workers even get paid with the federal government running over a $1.5 trillion dollar deficit...now the question is who will be responsible for paying that deficit?

If your checking account was debited each time a federal worker was paid......you might actually have a pulse.

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#3) On August 10, 2010 at 10:18 AM, alasker (< 20) wrote:

Hey Alstry:

I was thinking about your observation yesterday. It is very interesting how in my father's generation parents would throw their kids outside and they would have pickup games while children today have organized leagues of sports as soon as they can walk and 700 friends on facebook/ twitter. I watch my brother (who is deaf) use a video camera linked to a TV to visually sign to friends across the country and wonder how many similar things children do these days. I wonder where social interactions would go, especially if education becomes more digital as you believe they will. Would you have imagined the word "online bullying" 3 years ago?

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