US Debt

[Fulham Broadway 16,858]

Makes you think....

But the Rich Dont Pay

[dave30 728]

wow .

[chelsea blue 615]

http://www.bbc.co.uk...nology-14340470

[manpe 10,861]

http://www.bbc.co.uk...nology-14340470

"The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments.

If it fails to extend the current limit of $14.3 trillion (£8.7tn) dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.

The United States is currently spending around $200bn (£122bn) more than it collects in revenue every month."

USA going down the toilet

[Blue In Green 86]

But seriously, let this be a lesson to the rest of world. Democracy has many positive traits, but it is not flawless.

[warnie_666 1,081]

It's not democracy it's capitalism that's posing the problem.

And note that Democracy is not always equal to capitalism

[Blue In Green 86]

It's not democracy it's capitalism that's posing the problem.

And note that Democracy is not always equal to capitalism

No, democracy plays a part in the problem. Look up the term "gerrymandering", that process has produced many hard-line representatives on both sides. Those representatives were elected by angry voter bases to do A,B and C, even if it risks the long-term viability of the nation. Some Republicans signed a pledge to make drastic cuts to government without raising taxes in any way. One part of Congress is controlled by Democrats and other by Republicans. Instead of creeping closer to a consensus, as normal negotiations should, the leaders are actually moving away from middle ground in an effort to save political face. If anything passes through by the deadline, it will be an inadequate, short-term fix.

The people are also at fault here, as the voting bases have swung toward extremist elements, especially on the right. Talking heads on media deliberately fan flames for viewership. Facts are commonly twisted in one way or the other depending on who is being pandered to. If the people are unable to tell right from wrong, how do you expect them to elect representatives that would? That is where democracy comes into the problem. Democracy is a very delicate system, its people must be educated and motivated. They have certainly become motivated in the last few years, but what of their education?

As for the debt itself, it can only be payed off with a combination of spending cuts and taxes. I do think high earners should be taxed more and I think corporate loopholes and subsidies should be closed. I also think our military actions need to end. So many lives have been lost in frivolous pursuits like in Iraq...