FEDERAL GOVERNMENT DEBT = $24,470.04 PER PERSON, and rising. This means a family of four (4) shares more than$93,080 in federal debt responsibility - - including those still in diapers. The National Debt has continued to increase an average of $1.73 billion per day since September 30, 2003! The National Debt is as of May 26 2004: 7,197,880,192,218.16 So knowing this what do you think should be done about the federal debt?  PhysOrg.com science news on PhysOrg.com >> 'Whodunnit' of Irish potato famine solved>> The mammoth's lament: Study shows how cosmic impact sparked devastating climate change>> Curiosity Mars rover drills second rock target  Recognitions: Gold Member Staff Emeritus 1. Rescind all the Bush tax cuts. 2. Raise the top marginal tax rate to 35% or so. 3. Get the public to demand that congress cut pork in half. You can't cut it entirely but Congress should get used to several years of reduced budgets - never mind how worthy the causes! 4. Bring the troops home and slash the military budget. 5. Encourage a bipartisan effort to balance the overall budget. 6. While interest rates are low, pay back what we can (this was what Clinton did). The seven trillion comes almost entirely from two presidents. Reagan contributed 3 trillion, and Bush has contributed at least as much. The rest is growth of interest.  When will these people learn that supply-side economics (tax cuts for rich so that it allows them to hire more people so that it "trickles down") doesnt work? It didnt work in the 1920s, 1980s, and it wont work now. Of course, I dont think they actually think that the plan will work, but just as a way to get more cash in their pockets, even though they are financially screwing the nation. America used to be a leading creditor nation, now we are a big time debtor nation.... the neo-cons in office aren't helping very much. ## Federal Government Debt Over 7 Trillion I find the USA debt extremely amusing. 7 Trillion (thats what you know of!) And this is the society that preaches it has the best socio-economic system in the world! Oh man, you guys will have to invade a Nation (and PLUNDER its resources) every few weeks to cover the interest repayments. Very funny.  Quote by Nommos Prime (Dogon) I find the USA debt extremely amusing. 7 Trillion (thats what you know of!) And this is the society that preaches it has the best socio-economic system in the world! Oh man, you guys will have to invade a Nation (and PLUNDER its resources) every few weeks to cover the interest repayments. Very funny. What is funny is your lack of grasp that capitalism != large debt. The two are compltely seperate , however you can't wait to find any, and every, soap box to try to manipulate a point of yours into the mix - even when it has nothign to do with the topic at hand.  Quote by bulloughclan FEDERAL GOVERNMENT DEBT =$24,470.04 PER PERSON, and rising. This means a family of four (4) shares more than $93,080 in federal debt responsibility - - including those still in diapers. The National Debt has continued to increase an average of$1.73 billion per day since September 30, 2003! The National Debt is as of May 26 2004: 7,197,880,192,218.16 So knowing this what do you think should be done about the federal debt? Sorry this post was accidental please see my pole
So what percentage of every dollar the US government spends is borrowed? I've heard it's right around 20%- any confirmation on that?

 Recognitions: Gold Member Staff Emeritus A more important question is what proportion of revenues is consumed in debt service?
 Very insightful Mr phatmonkey! My lack of a grasp of Capitalism? I'd wager I understand the entire SYSTEM a lot better than you. Whichever way you look at those numbers (7 Trillion), you guys are going to be paying for DECADES to come.
 Recognitions: Science Advisor Bulloughclan – It’s good to know there are 15yr olds with your ability out there. Your post was well written and well thought out. Few people (especially me) can grasp the intricacies of a national economy but probably most who do would consider a large national debt to be a bad thing, and most would probably consider a debt ceiling to be equally bad. I would suggest you forward your post to Alan Greenspan and, if he replies, share the response with us. Regards

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 Quote by selfAdjoint The seven trillion comes almost entirely from two presidents. Reagan contributed 3 trillion, and Bush has contributed at least as much. The rest is growth of interest.
Why SelfAdjoint I'm shocked! Everyone knows that it is the tax-and-spend democrats. You simply must have things confused.

 bulloghclan; That would have to be the SINGLE, BEST plan for eliminating the USA debt I have ever seen! I'm serious! You should be immediately flown to Washington, where you should henceforth displace whatever Monkeys are currently running your economy. It gives me faith that a 15 year old understands what is going on (and has the initiative to plan a remedy). However, you'll find out soon enough, that nobody (who can do anything about it) gives a toss...
 bulloghclan, great post- but there is no need to eliminate our debt. Simply reduce it,and that is the only place where I see editing needed in your proposal. That and you shouldn't plagerize.
 http://www.congress.gov/cgi-bin/quer...08:H.J.RES.22: The desire for recognition is strong, isn't it?
 lol...Too funny!
 I normally don't use strong words but this is very foolish Bulloughclan and can get you into serious trouble. see this While not many of us can boast of intellectual excellence, our integrity is entirely up to us.
 Recognitions: Science Advisor Well I guess bulloghclan has great ability, but not the admirable type I first supposed.