Re: National Debt reaches $8,000,000,000,000 (8 trillion dollars)
The interest on the national debt is very small, its basically just slightly over inflation. Most of the people in this forum dont know much about economics, just like I can't spell, but I dont claim to be a spelling champion. No one has given any reason why the U.S. economy would collaspe. It wont collaspe because eveyone depends on us because we import and export so much to the entire world. Also we owe everyone money, why would anyone want to screw over a country that owes them money. Would you kill some guy who ows you 1 million dollars because your mad he wont pay, or would you wait it out and hope that he ends up paying you. I would say the budget deficit would have to become 10%+ of our GDP before something might happen. If it becomes that big the value of the dollar could fall and we would probably experience a multiplier effect.
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