U.S. National Debt Update

The US National Debt has increased by $93,188,029,341 since our last update in January 13, 2012.  Another month, and the United States has dropped nearly another $100 billion in the hole.

National Debt as of 2/6/2012

$15,321,143,716,542

QUESTION: Have you ever lived this way – where you used a credit card or some other form of debt to spend money that you did not have?

My question is this:  At what point in time will this type of spending stop?

What are YOUR suggestions for addressing this?

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5 Responses to “U.S. National Debt Update”

  1. Lee Swanson February 9, 2012 at 7:06 am #

    I have lived that way once upon a time and you end up juggling bills and needlessly suffering. My solution is to quit taking your neighbor’s money through government redistribution programs, government rebates, welfare programs, or any other wealth transfers. Don’t hire a legislator to take care of you and we will all be better off down the line.

  2. Scott Bryant February 9, 2012 at 9:12 am #

    Number one, the government are the only one’s that can spend money this way. If I I had a credit card with a $5K limit on it and I maxed it out while only making the minimum payment, how many times do you think the CC campany is going to increase my limit before they say “No More!” ? ? ? Maybe I should just tell them that my family sat down at the kitchen table for a family meeting and we all decided it was time to raise the debt limit within the household. I’m sure that would take care of it! I understand we should respect our government, but they sure are making it tough.

  3. Terri February 9, 2012 at 9:21 am #

    The federal government should handle its financial problems the same way that I would handle those same problems personally. Destroy the “credit cards” and quit spending. The programs that are established by the government presently that can no longer be funded without “borrowing” money should be stopped. PERIOD!! This goes for government assistance, research, everything. If I were bankrupt my budget would be whittled down to the necessities for survival. At my home that would mean mortgage, food, and utilities. There would be no cell phone, cable, or internet. No gym or country club membership and I would work on a cash only basis. The government should do the same!!! There is great power in establishing the difference between needs and wants. Welfare should be a temporary solution to help in finding a permanent solution. It should not be a career choice.
    Everyone should not qualify for a credit card, much less a mortgage. People should be made to have a personal investment, financially, in any endeavor for which they are seeking additional financing.
    And about healthcare…Quit blaming the insurance companies! They do not mandate whether or not you can have a medical procedure, they determine whether the procedure is covered under the policy that you have chosen to purchase. You can have any procedure done that a doctor recommends, if you are willing to pay for it.
    My husband and I have worked diligently to become debt free. Sometimes this has meant working when we did not FEEL like working. It meant setting goals and accomplishing them by sacrificing our “wants” and only supplying our needs.
    We will both be 50 years old this year. Our home and vehicles are paid for. We have no credit card that carries a balance. And we have saved for our daughter’s college education and our retirement. We hope to retire in about 10 years and I hope that this country is worth residing in at that time.

  4. STEVE PULLIAM February 9, 2012 at 4:22 pm #

    BOGUS COMMENTS. THE NATIONAL DEBT IS THERE BECAUSE THAT’S WHAT WE WANTED OUR (NOT THE) GOVERNMENT TO DO. OUR GOVERNMENT BORROWS MONEY TO KEEP US FUNCTIONING AS A NATION. SURE, WE CAN CUT SPENDING…BUT WE ALSO HAVE TO PAY OFF THE DEBT THAT WE RAN UP. IF WE WANT TO HAVE A COUNTRY IN THE FUTURE. AND BY THE WAY, CUTTING ALL OF THE “WELFARE” SPENDING WOULDN’T CUT BUT ABOUT 1% OF THE BUDGET.

  5. Terri February 9, 2012 at 11:08 pm #

    The definition of insanity is to continue to do the same thing and expect different results. There is absolutely nothing in my comment that suggests WE are not responsible for the debt WE have incurred, I am simply saying that WE need to quit spending money WE do not have. Quite frankly, I think that too many people declare bankruptcy in a flippant matter. I believe there are many legitimate reasons to do so, however, it should be a last resort. And when your slate is wiped clean, you should not be encouraged to fill it back up. I also did not say that welfare spending be cut out. I just believe that it should be a temporary solution that gives people the opportunity to regroup and there should be a limit to how long anyone can receive assistance from a program that they have not contributed to, except in catastrophic circumstances.

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