Rank #59985 on SubscribersLevel 216 Comments: Comedic Genius
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|Date Signed Up:||4/02/2011|
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Level 216 Comments: Comedic Genius → Level 217 Comments: Comedic Genius
|Times Content Favorited:||53 times|
|Total Comments Made:||1375|
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#65 - warriortnt (03/14/2013) [-]
You should know that the "Debt Crisis!" is completely fabricated by the media, it is NOT a huge deal and is more a result of inflation and the fact that huuuge amounts of money are being thrown around compared to our debts in the past.
Most of our debt is owed to different branches of our government, then comes a debt to citizens, after that you have to realize that even though our foreign debt is still pretty sizable, for every dollar we owe about 89 cents is owed to us.
After all those calculations the 'insurmountable hole' that we're in is more like 1 trillion, which is still quite a bit of money but being realistic about it; we could pay off our debt like nothing and we have done so in the past. Which is why all of these foreign entities trust us with borrowing of such sizable amounts of money in the first place.
The reason we are so terrified of bullshit like this which has happened before and will happen again is because the media benefits from people being scared because the more scared people are the more they watch the news.
This video may help you in the future. youtu.be/D319DsrxfUA
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