$11,573,578,115,566.81 is the amount of Public Debt the USA owed on January 17th, 2013. And this number rises every second as we borrow more and more debt to pay for interest on preexisting debt, education, entitlement programs, defense, infrastructure, and a numerous other amount of agencies and programs. This number is enormous. To pay for our 17 trillion dollars in debt would be about 45,000 from each U.S. Citizen! We all know that it will take many decades for us to ever pay back our public debt, if we ever do. With Congress unable to make appropriate agreements on how to fix this catastrophic problem, one has to wonder why foreign countries are still buying U.S. Bonds and U.S. Debt.
I understand that America is one of the wealthiest countries in the world and has always had a phenomenal record of paying its debts but there is no foreseeable way in the next few decades to even make progress on our debt deficit! We are in too deep. And as this becomes clearer in the next few decades, we will see a decrease in investing from foreign countries into the U.S. I feel as though it is almost certainly inevitable. What do you guys think?
I understand that America is one of the wealthiest countries in the world and has always had a phenomenal record of paying its debts but there is no foreseeable way in the next few decades to even make progress on our debt deficit! We are in too deep. And as this becomes clearer in the next few decades, we will see a decrease in investing from foreign countries into the U.S. I feel as though it is almost certainly inevitable. What do you guys think?