Just because the central banks decree that each American is $30,000 in debt, does that make it so?$30,000 X 300,000,000 Americans = Total deficit (at this point, but will probably double in a few short years) | |
Just because the central banks decree that each American is $30,000 in debt, does that make it so?$30,000 X 300,000,000 Americans = Total deficit (at this point, but will probably double in a few short years) | |
No.
On 2 counts.
1) the tax base is larger than the population, corporations, ma and pa ones need be added.
2) it isn't real. Money is virtual. It's an exchange medium. The relative worth compared to other cuurencies and it's capital base determin it's buying power or worth.
In any case last I checked I'm not even sure the ammendment authorizing a central bank was passed.
I guess so but its quite an academic question. No individual will ever get a bill for that amount.
There seems to be a lot of concern about the size of the US public debt but according to Wiki it is actually less as a % of GDP in the USA than Germany. The USA seems to come out a respectable 27th on the list. Japan has a debt which is proportionately three times bigger.
in a way, yes...but when you live a "debt free" lifestyle, or close to it, you don't really care if you can't obtain credit (aka, more debt)...
8 months and I am "monthly payment" free...except for my apartment and utilities of course. But that isn't debt
dave ramsey isn't a genius, but he does now a thing or two about living a debt-free lifestyle...I recommend him to anyone on that subject.