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[–]pattis 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

the bottom line is that we have been selling IOU's to foreign entities in the form of various types of securities/bonds/etc... we have been doing the equivalent of taking out payday loans and we are way beyond the point where we could EVER pay back those loans.. its similar to if i earn $20k per year income and i were to take out a million dollars of payday loans... there is no way that i could EVER pay that back because quite simply i aint gonna live that long.

the united states is already drowning in various types of debt and we have several monster sized ponzi schemes that are ticking like time bombs, such as facebook and tesla.

yes, i could explain that tesla and facebook are LITERALLY ponzi schemes, though they do not follow the textbook definition of a ponzi scheme they are nevertheless schemes where your monies have been invested which WILL NEVER EVER BE PAID BACK IN FULL.

get ready to go broke when ilhan omar starts handing out free money to third world nations slums.

just fyi, we are already handing out money to other nations... for example, i was praying with muslims for a minute(wahabis) and an iranian man confided once that "some of us have figured out how to get $4,500 per month from social security and move back to our home countries".

we are now issuing large welfare checks to iran and pakistan and india and indonesia, and others. fyi, not only are these foreign citizens defrauding the social security administration, but they are literally the ones that are operating and managing the social security administration.

kaboom goes the world economies.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

We could pay it off, although we are at 130 percent of GDP spending right now. It would take us decades. Our WW2 debt was almost paid off up until the 80's when Reagan got elected, and then they quit caring. It's been going up ever since. This is the highest our debt has been.