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Zef Zef is offline
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Join Date: Sep 2005
Location: Montreal
Posts: 3,642
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US $ replaced by the Euro

The U. S. Dollar is being replaced by the Euro as the international trade standard...In Fiscal Year 2006, the U. S. Government spent $406 Billion of your money on interest payments.Suppose you want to spend more money this month than your income. This situation is called a "budget deficit". So you borrow. The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you don't have enough money to cover your spending (another deficit), you must borrow some more, and you'll still have to pay the interest on the loan. If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don't have any money left over for anything else. This situation is known as bankruptcy.

Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress's appropriations. The total borrowed is more than $9,100,000,000,000 and growing.It's a lot of money...What do you guys think about that...
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Last edited by Zef; 11-03-2007 at 06:58 PM..
Old 11-03-2007, 06:18 PM
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