We are 53 trillion dollars in debt

[Heather MC]

I am watching CNN breaking down the numbers
and according to their expert
we are 53 trillion dollars in Debt to ourselves
That includes the 9 trillon from bush
and all the things we are promising to spend money on, ie social security.

They put the blame on everyone in Charge and they mentioned something about the way congress is aloud to spend money changed in 2002 I missed that part. Can someone explain what happened in 2002?

Also the expert (sorry no name) said neither Obama or McCain's plain really address this issue properly.

What are your thoughts on this subject DU?
Sorry I don't have more info, I didn't start focusing in until it was almost over

[1corona4u]

1. It's aprox. 30K for every single person in the US...

but with Obama's tax changes, it would take a lot of the burden off of the middle class, and put it on that top 2% that everyone talks about.

That's the way I see it anyway...

[Heather MC]

5. I have heard historically the wealthy use to pay 90% now it's down to 33% the lowest ever in history

If McCain gets in office it would fall to 15 - 20%

[dana_b]

2. maybe WE need to start demanding a breakdown of what our money,

our children's money and their children's money is going for? I don't know. I can barely get my congressional person to respond to my questions now.

most of us don't have $30,000 per person in our family sitting around in the bank so I really on't have the answers. It looks pretty scary with this and the way the economy is going.

Also we are on the brink of war with Iran and maybe Russia - how are we going to pay for them (if we even survive them)?

[mckara]

3. Discouraging Isn't It? The Net Worth of the World is $60 Trillion!

Since the dollar is the world reserve currency, we have the choice of printing more money to get out of debt. Inflation will destroy us.

[Orsino]

4. A trillion here, a trillion there...

...and pretty soon you're talking real money.

("How many is that?" asked the President.)