Can anyone tell me why the USA (rich country) has to borrow money from China to survive? I need to understand.

Question

Can anyone tell me why the USA (rich country) has to borrow money from China to survive? I need to understand.

Answer 1

Take a ride one day, and drive through the wealthiest section of a well-off town near you.  When you look at the houses... realize that there a are a few of them that are living on borrowed time, 'credit card millionaires' in debt up to their eyeballs.  They are one finance charge payment away from losing the house, the hummer & the plasma TV.  This while they scream and yell about the state of their neighbors, complain at their association meetings, and volunteer time & money that they don't have for s**y charitable causes that make them think their neighbors find them cooler for it... when their neighbors all think they are dickheads.  That is the USA.

In the blue collar section of town, there are the houses where the house is paid off, so is the chevy in the driveway, and the five year old TV in the living room.  They are friendly with their neighbors, but would never tell them what to do or how to live, and subscribe to the old addages "live & let live" & "neither a borrower nor a lender be"  That's what America should be.  Not the fanciest lifestyle, but it's all theirs, free and clear, and respected by the ones that they know.

Bring back the America my grandparents once knew.

Register, vote & LIVE Libertarian!

Answer 2

It's a larger version of the same situation  most Americans seem to be in these days,,,,,you look like you got a lot but you're really in debt up to your eyeballs. We borrow from Citibank, the government borrows from China.

Answer 3

America was a shopaholic who was in possession of a platinum credit card who lived far to long high on the hog on credit.

America  was given a unlimited credit because America was rich and owned many things people wanted to create there dreams. Instead of using there platinum  credit card wisely America went on a big wild shopping and spending spree and materialistically bragged how rich they were to many of there friends who were in financial debt or poor.

Once America maxed out the credit card, America asked a  good friend China if they paid the credit card bill offering China some of the thing's America owned. China liked what America owned and agreed.  

America was happy to be able to keep on shopping and spending wildly knowing China wanted what America owned and would accept what America offered them to pay off the credit card bill.

For many years America kept on shopping and spending wildly to give the illusion to many people America was rich and could afford to do or buy anything America wanted.

This happened until Americas credit card was cut in half and was refused credit because they couldn't pay there bills or given extended credit because China now owned almost everything America had.  

America needed to keep there reputation and started asking other friends like UK, Canada, Australia, Germany, Belgium, Italy,France and many of there middle eastern friends if they were all interested in what America had to help them pay off their very high credit card bill so America didn't become like the friends it put it's nose down too. When they all agreed America went back out on a spending spree until there was nothing left.

All of Americas friends including China have been helping America out with promise it will stop spending pay off it's debts and prosper.

Only America can't control their spending and keeps on wildly spending the financial support that has been given to them to keep an image and now owes very large financial debts to all of there friends it can't pay.

Which is why America has become like it has and  has to currently borrow money from many countries including China to survive.

Answer 4

Sorry Jean, I dont need a D$@n thing from the Govt to survive

Keep in mind,,,We have the 2nd highest corporate tax rate in the World......We should be bringing in piles of tax dollars

Answer 5

Because Congress spends more money, than the federal Government collects in tax's.

It as easy as that.

You cannot blame the increase on the Bush tax cuts or the war in iraq.

Both combined, would only account for around 27% of the increase in the national debt, since 2003.

That still leaves 73% of the increase in the national debt.

That comes from just plain over spending.

Answer 6

Ok U need to understand that USA is not rich, why? Imagine this, you spend 100million per month, you appear rich to everyone who sees you, but they do not know that you are under a 200 million debt, and when the debt comes crushing down...where's ur wealth now? USA is heavily under debt, and is artificially rich(read up on ur economics), the only reason it is still floating, is because countries such as China have allowed it to, because its currency still serves a standard in the world Financial market. That's the truth, USA is not rich....

Answer 7

We don't borrow money from that second-placer called China. The USA has nearly 14 trillion dollars, making it the richest country in the world. Don't believe everything you hear on the news. The USA is the country that loans money to all of the other countries; why the heck would it need to borrow money?

The USA may be in trillions of dollars of debt, but every year it has nearly a 2,000,000,000,000 dollar surpless.

Answer 8

Most of our nation's history has seen us as a debtor nation. It is business. We borrow, we pay off the interest, and the world keeps spinning.

Answer 9

Because you cannot spend 10 billion dollars a month in Iraq, while importing 70% of your petroleum and expect to stay solvent, while giving tax breaks to the wealthy.

They have the money.  We used to, but we don't now.

And we never will again, if more Republicans take office.

Answer 10

my friend American people don't believe we borrow money from China because they still believe we are the must rich country of the whole World...

China own us