[Hugh R]

I posted on this in another thread earlier. $11.3 TRILLION in debt, $3.3 Trillion in budget (read incoming tax money) and they've "allocated" $250 Billion for this year to put towards paying off the debt.

Knock off five zeros on each and think of it like a household. You have $113,000 in Credit Card Debt, you bring in $33,000 in income and you're allocating $2,500/year to put towards the $113,000 in CC debt for this year. Are you actually going to make any headway? Hell, you're not even paying the interest on the debt, let alone the principal!

I believe, (hope) that I'm room temperature before this all goes to hell. I fear my kids and grand kids are going to get screwed. What if the USA declared bankruptcy in 10-20 years? What would happen?