national debt IS our debt though

It takes money to maintain a country, and 'countrymen' have the 'patriotism' to contribute to those 'debts' incurred .... at least that is how I see it.

Okay but how much sense does it make to spend money you don't have or can't quickly pay back? What sense does it make for a nation with a set asset level to pay on loans that accumulate interest?

Governments have a set revenue potential (barring catastrophes). Loan repayment and the interest on the outstanding balance must be included in the budget of the nation. That money owed prevents that nation from using the revenue to accommodate that nations needs. It generates a need to either reduce payment on the loan (causing a longer repayment period and longer/higher interest and/or penalties) or borrow even more money to meet its needs. Often at even higher interest rates.

A government should never be permitted to spend more money than its revenue stream. Individual people should not be permitted to spend more money than their revenue stream.

The whole concept of debt/credit is insanity.
It inflates the actual value of goods and services causing more credit/debt to be needed for things where credit/debt should not be needed.
While I can understand a persons willingness to live beyond their means with credit and debt, I can't understand why a nation would do so?
It makes ABSOLUTELY no sense to me.

I do not know Tom. Seems to me though that there has been 'debt' since before the country was founded. I imagine many things and many costs cannot be predicted. Wars and unexpected recessions or disasters and any number of other costs, for example, are not something we know until they have come and gone, which raises debt and money owed.

I do not know Tom. Seems to me though that there has been 'debt' since before the country was founded. I imagine many things and many costs cannot be predicted. Wars and unexpected recessions or disasters and any number of other costs, for example, are not something we know until they have come and gone, which raises debt and money owed.

Hmm?
Isn't that like trying to defend rape & murder by saying it has been around since mankind existed?

Its strange how humans will justify and defend things which are bad for us or make absolutely no sense.

I see it as collective insanity.

No. Because I am not defending anything. I am just pointing out how difficult it is to pin down a 'why', when it has occurred under so many different circumstances, with so many different nations, regardless of any predictive factors.

It would be like asking why do people rape or murder? I imagine if it can be answered, it is more multiple choice (many factors) than any one definitive reason.

The answer may be simpler than you realise …. It is greed that drives those who own and control the world and those who have allowed it.

In referring to "those" I speak of a small number of banking families who have closely controlled world finances for over !50 years. Those people own the Federal Reserve and the central banks of virtually every country on earth.

Your Mr Trump can do little to stop them although he has threatened nationalisation of the Federal Reserve. The last President to do that was Kennedy. Whatever else people say about Trump, he has courage because his life is in danger.

Why would 'my' mister Trump want to change the system that has amassed him billions? Why would the KING of America feel anyone could harm or touch him?

Because there is somebody more richer and powerful than him, and that really gets his goat, I mean that would be like having a boss

And don't forget the yankee saying

He who dies with the most toys wins

( His yacht is bigger than mine, wtf, your fired )