Quote:
Originally posted by 84porsche
Assume I have no financial knowledge whatsoever. Can you guys explain the national debt to me. I found this website - http://www.brillig.com/debt_clock/ -
My questions not in any related order ...
Is the amount of money I owe to someone, somehow?
Is the government not collecting enough tax reveue?
Are they spending to much money?
I have heard we have a budget, do we not use it?
Obviously I can't live my life like this, how does it work for the government?
Is this money that they borrow from me through Savings Bonds etc.?
Did we have this problem with the Gold Standard?
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I could make this attempt, but there's someone who understood it much better than I, and wrote about it at length,
Congressman ron Paul of Texas the only libertarian in the national legislature. I'd suggest his archives at lewrockwell.com.