With the deficit and National debt so high, how can we still call ourselves the riches nation in the world?
96439
We are able to call ourselves the richest nation in the world because of our GDP (Gross Domestic Product) and GNP (Gross National Product).  Technically like Luxembourg and a few others are richer (per capita) but since we're so much larger and have so much more influence over the world economy, it's just generally assumed we get the title.  There are single cities and states in the US that have larger and more powerful economies than most countries.
395373
I disagree that the country is reaching its dead end. Phillipines is a developing country. The people (I mean fillipino) are very good people and they are dedicated to the work. I know one friend who is a teacher in a school. She is very dedicated to the job. She is satisfied with the economic as well as political circumstances. You should know that no country can become rich overnights. You have to wait  and see the result of investment made in the country by the Govt as well as by private sector. Please be patient and have faith in the natural outcome of your country.
490940
Ok so 1. Our debt is actually mostly to ourselves not other countries although some foreign investors hold U.S. government bonds and such.\n\n2. Bill Clinton did NOT erase the national debt. That is an impossible task for 1 President to do considering the debt is now something like 8 trillion dollars...I'm not sure of teh exact number. What Clinton did was erase the national deficit for a couple of years. A deficit is the debt for 1 year...the national debt is the accumulation of that. \n\nNow that that's clear...yes more money should be going to pay the national debt. But really, first, we need a balanced budget so that we can stop increasing the debt. And then whatever surplus there is should go towards paying off the national debt instead of tax cuts. not that I'm against tax cuts or anything.
249589
Please don't live by putting all people into the same category.  Not all conservatives are filthy rich.  While it's true that are deficit has grown horribly, it's because we are in a war, and our spending for that had to be a priority.  It sounds like your angry at corporations, which are at the heart of our economy.  You go to the grocery store and buy brand name products, that's where they come from.  They hire tons of workers and pay great benefits.  Without corporations, our country would be dirt poor like a third world country where people have nothing.  Money comes to those that work hard and sweat.  Everyone starts out small and works their way up.  Conservatives don't believe in receiving something for nothing, their work ethic is very strong.  You tell us not to be mad, then call us bastards!  Maybe you should channel your anger into something that will be profitable to you.  Our country is far from perfect, but it's still the greatest.  If you ever get a chance to visit a place where people wear rags, eat out of garbage dumps, have no running water or electricity, disease is rampant, and eat government doled out slop, you would realize that even the poorest Americans are like royalty in these peoples' eyes.
874614
i know my family has a net worth of more than 1 million... i think what makes someone rich is being on the forbes riches list, which means having at least a billion dollars.
826986
the freedom that was Americas is long since gone,the whole nation is under the thumb of those who own the wealth, and these are the top Jewish bankers like the Rothschilds, Rockefellers and the Warburgs who have the country so much in their financial debt that the ordinary man and woman have to work at least 3-4 days a week just to pay of the national debt owed to these greedy bankers.\nin fact how many Americans know that the Federal Reserve is not owned by government or the people but by these banking moguls.
31207
that's not the way it works...The Us doesn't "have" any money...we have a debt in the trillions of dollars (and counting) The difference is made up by selling bonds and from borrowing from trade partners (goods exchange or cash loans)  -mainly China, nowadays.  They do not need the actual money (no gold standard- "money has no inherant value) to run things, they just need a number to guide how much they can spend....it is the worst way to handle finances of any scale, and the first time we have funded wars from almost exclusive overseas borrowing.. We are screwed.
50782
Rich is a subjective word. Do you mean rich as in a net worth of one million dollars, one million dollars in 2005 dollars, or do u mean more like 15 million or more?\n\nRich is defined by the individual or surounding individuals. If one man with a net worth of 150,000 walks into a homeless shelter to help, the people there may look at him as being rich, although if the same man walked into the Chicago Board of Trade (Which I believe still holds the record for having the largest number of millionaires per square foot) he would be considered poor. \n\nThe only way to truly become wealthier is to earn economic profit, and the only way to do that is by exploiting market potential. Market potential is everywhere in America, you just need to open your eyes a little wider and you will see all the possibilities to earn economic profit, and meet your goal of what you believe it means to be rich. \n\nThere is definatly no system that can make a person rich in 20 years. If someone claimed a system existed and everyone got involved and it actually produced money it would mealy be inflationary more than anyhting. \n\nYou should also understand that money doesn't buy goods and services, goods and services buy goods and services, money is just the medium of exchange. So more money doesn't mean you can buy more. The more goods and services you provide the more you can get in exchange.
857593
The rich stay rich because they think rich. It's all about business ownership. It's not about hushing the government or anything like that, life is a game, and the rich population are the all-stars that know the game like the back of their hand. Rich people create companies and corporations, the government favors persons who own businesses and corporations, these favors can be considered as incentives for supporting American economy. Along with owning companies and corporations, what you spend (whether for personal or business use) can be a tax-write, there are TONS of things you can write off your taxes, like gas usage, new clothes, business meetings, cell phone bills, etc. So for example if the government says you owe them $5,000 but you have a corporation or company under your know, you just write-off everything under the sun, until you owe them very litte if anything at all!!! Also, corporations aren't multi-million dollar infrastructures in Times Square; they are documents (PAPER!!) sitting somewhere in a file cabinet!! Think about it, you can complain, whine, and pay more taxes, or suck it up and start taking steps to own your own corporations and get the benefits that are at your fingertips!!
213040
Well we got debt too, my island is so rich they can afford to give every person living here legally and ilegally $1 mil and still have change,but what do we have instead a massive oil boom and half the nation can't afford to put a roof over their own heads, and the Government borrows $800mil to build a massive stadium for cricket ( just to give you an idea the island has 1.5 million people) and they put it in the middle of a settlement of squatters. Hospitals are short of doctors and medicine and equipment, schools are in terrible condition and the roads....well!!!! Where is the money going? Nobody knows and this is after years of being technically debt free as an island and then experiencing an oil boom. So it's not just the American taxpayers that are getting the shaft I think it's all of us.
542217
we havent seen a surplus since 1830s. the 'surplus' during clinton was a hoax. he bailed out mexico by having greenspan print up $3.8 billion bounced it off the roof of the treasury into chase manhatten. then bush bought us all off with it at the beginning of his 1st term. right ow the debt is $8,363,454,225,996.54 The estimated population of the United States is 298,676,548 so each citizen's share of this debt is $28,001.71. The National Debt has continued to increase an average of $1.95 billion per day since September 30, 2005! Concerned? Then tell Congress and the White House! http://www.eff.org/congress/
408223
There is nothing wrong with having a national debt. That is a very common misnomer. The national debt is simply the acculation of outstanding savings bonds that are purchased, primarily by us (the American public). You go buy a bond, and the government owes you the money back. It is just a paper transfer, not a sunk cost. A surplus would only mean that these have been paid off. That isn't NECESSARILY the optimal condition.
559664
I don't think anyone really talks about it.  No one even tries to justify it anymore.  We just try to make believe it isn't there.  Of course, it isn't larger than our GDP yet, so that's a good thing, but on the other hand, the GDP isn't sitting around waiting for the government to spend it, either.  GDP belongs to individuals, not to the government.  So the idea that a high GDP justifies a high government debt is ludicrous unless the government plans to nationalize all the assets in the nation.\n\nThere are no guidelines or rules for 'bankruptcy' for nations.  This is why some of the more insolvent nations haven't figured out what to do about their even more serious debt problems.  This is at the root of the 3rd world debt crisis.\n\nIf everyone stopped lending to the U.S., we'd probably have to stop spending so much.  Maybe that wouldn't be such a bad thing, hmmm?
1096854
1996 to 1999, the US Goverment led by President Bill Clinton generate the first Surplus's in 30 years.  President Clinton even began paying down the National Debt.  2001 - 2006, President Bush and the Republican lead Congress double the National Debt from 4 TRILLION to OVER 8 TRILLION DOLLARS with no decrease in sight.  Their solution?  Cut more taxes for the Ultra rich, get rid of estate taxes for the ultra rich.  They cloak their agenda by calling Estate Taxes - death taxes; however, only about 5% of Americans will ever have to pay any Estate Tax.  Thomas Jefferson was a strong proponent of having wealth being disappated at the time of one's death so that we do not have wealth staying in the same family from generation to generation by indicating that the dispersal of wealth is a strong contributor to a strong democracy.  Therefore, whenever, you hear the Republican mantra of 'it's your money'; think more about how the meager tax cuts on most of us benefit those with the most and sacrificing benefits for the rest of us.  Vote for the Party of WE (Democrats) and not the self centered selfishness of the Party of ME (REpublicans).
1049505
Maybe you can do it the old fasioned way:  go door to door, and ask people to give you money.\n\nIf that doesn't work, write letters to rich multi-millionaire Democrats like John Kerry, Ted Kennedy, Barbara Boxer, Chuck Schumer, Michael Moore, and Hillary Clinton.  They're always telling us the poor deserve more, well, here's their chance to step up and lead by example.
149872
Good answer ybhviper... very astute analysis\n\nI might add there are ways that COULD help.... some conventional, some unconventional...\n\nThere has been some weird talk of a national Lottery... with procedes going directly to debt relief... but then Gambling would have to be embraced by the Fed.... dunno how likely that will be\n\nTax on something other than income, where people readily spend and would not stop spending because of an additional 5% or so tax.... but that makes for a popularity nightmare\n\nCalling on those that do owe us money... or even asking those we have assisted in other ways to wipe out portions of debt we owe them (Japan, China, etc), in exchange for favorable decisions in their favor (Trade wise, treay wise etc)... \n\nBut in all reality, we will never be free of federal debt... the debt helps the economy roll to an extent.... I could see severe effort towards debt reduction.. but I don't know how the Dems and Reps can work together on that, when they are on each others heels about even the smallest things, like stink on a monkey... riders, pork barrel add ons, government as charity relief, government handouts, etc need to be seriously eliminated to bare minimums... I just doubt that with any politician, we will see it
1016555
It definatly is NOT BILL GATES with his 50 billion or so.\n\nI would have to say Lord Rothschild of the UK. His family has been billionairs before computers were even invented. He is so rich and controls so much wealth he can even hide it from the mainstream press. His family helped set up the FEDERAL RESEVE BANK and is one of the prime stock holders. Think about that since 1913 he and his family have been making money from the Federal Reserves loans. Who do you think we owe our national debt too? Its sad how uninformed the vast majority of americans are. Our debt is in the trillions every year we pay hundreds of billions to service that debt, Mr. Rothschild gets, via the corporations he is on the board of (board members are owners) a fat chunk of those intrest payments into his coffers each year. The Federal Reserve has NEVER been subject to an external audit, so its not known just how rich the stock holders are.