The American economy owes the rest of the world $728 billion. Why won't they pay up and free poorer countries?

Question

Thank you for that correction.It is indeed Trillion. And the question implies that the American government owes this money due to its trade deficit, in that it has taken $728 Trillion worth of goods and have not paid up.

Answer 1

What about all the countries that owe us money? I'll bet there are more that owe us  than we owe them!

Answer 2

Do a little more research online and study Perotcharts as well as many other sites.

Actually, the net national debt of the USA is near $10 trillion plus the annual operating budget is about $3 trillion but we have had to borrow about $1 trillion to keep the system working. We have had a deficit annual budget for three years in a row. The projection of our need to take on much more debt to continue war and bail out the mortgage industry who have millions of mortgage defaults and foreclosures on their books, is awesome to even beginner students of economics.

Too bad they have never taught economics in the public school system. Basically, it works like your family's budget. If you keep running short of income to pay all your bills each month and keep borrowing money and running up charges on your pastic cards, eventually you just cannot meet the payments. If you don't pay, the foreclose on your home or kick you out of your apt. They foreclose on your ride and anything else they can take back.

It is just must bigger and much slower when you are talking about a whole nation, but it has a real parallel. Pretty much the same, when you get down to the bottom of it.

If you should get curious, it is all readily available reading online. Prolonged inflation leads to business slowdown and layoffs, no more credit, jobs get hard to impossible  to find and, if it goes on too long, you have a depression like the one the US had in the Thirties. There was a terrrible depression in Germany in the Thirties, too. Remember how they got behind the powerful orator who led them into WW2. He brought quick change by renouncing all national debt, invading Poland and things were looking great for them until they were counterattacked by the rest of the world. So it goes.

Answer 3

What do you mean by this question? Who do we owe this money to? "The economy" isn't a person, country  or corporation so "the economy" can't owe money to anyone.

Answer 4

728 billion? hahahahaahaha more like TRILLION. Ye we should deffinately help the poor countries but AMERICANS got there head too far up Jewish A$$. We only support the Jews.

Answer 5

The American government borrows money on a daily basis to keep things running. I'm not sure what the total national debt is, but the reason it's not being paid off in full is because the money does not exist. Yet we continue to borrow and pretend everything is running smoothly. One day that bill will come due.

Answer 6

drop in the water to what other contries owe us

Answer 7

Go smoke another doobie and let us grown-ups worry about politics.

You get your ideals from corrupt professors.  

The correct answer is "No".

Answer 8

Most economies run on debt....that is capitalism.   Freeing poorer countries is a seperate issue,,,,,,which should be done.

Most 'debt' is internal, however.

Answer 9

We are all poor!In this country!Gordon Brown has seen to that!Perhaps we should come up with a lease/lend agreement!Like these Yanks came up with in the War years!Such as lease New York to the EU or make them pay back in gold over the next 100years!But that is a none starter!Why?Incompetent Gordon Brown will sell it for less than it's proper price!

Answer 10

'cause poorer countries won't let us in

Answer 11

good question. it owes money to the federal reserve bank. a private company own by international bankers. they print all of america's money at interest which immediately puts the US in debt so to pay it they need more money...and so the cycle starts again. it is the inevitable outcome of US monetary policy. This gives these international bankers huge influence in US politics. They want to lend money to the government and the government borrows most of all during wars which is one theory as to why the US is always at war with someone.

Answer 12

becuase they don't owe it to poor countries ..where would poor countries get the money to loan us   that is like saying a guy who makes 1billion a year owes a guy who makes 5000 a year 10 million dollars

sounds like you have an agenda with the question and someone is shaping your thoughts..what left wing universtiy professor told you this?