How is the US still functioning with all this debt?
Seeing the hell my wife and I went through because of our debts and knowing that this country is in debt by trillions baffles me. How is the US even functioning with all this debt? I heard they were printing money recently too.
Because the US is able to service its debt - that is, pay the interest due on that debt. Those to whom the US owes money believe it will continue to do so. In fact, US debt is still considered among the safest in the world, which is the reason why so many countries have significant stakes in US debt. For many banks and credit organization more important if you are able to pay your debt and this is why they ask your credit score. US has a so hight credit score in world.
It is hard to believe the US is in good shape when it comes to credit but I do remember reading that even with all this debt, we are in a better position than other countries. I think this is only because of capitalism. A lot of people like to criticize it and sure, there are business men and women who take advantage of people through it but the freedom that comes with it allows people more than one way of paying off their debts because the market is always liquid.
I will be honest and say I don't know much about the country's debt. I don't know if you mean debt from citizens or the government itself either but I know the numbers are both very high.
The debt of the people is more of an issue than the debt of the government. They have a way of managing it but every day folks with college debts and medical debts do not.
natalie: It is hard to believe the US is in good shape when it comes to credit but I do remember reading that even with all this debt, we are in a better position than other countries. I think this is only because of capitalism. A lot of people like to criticize it and sure, there are business men and women who take advantage of people through it but the freedom that comes with it allows people more than one way of paying off their debts because the market is always liquid.
@natalie That is a good point. A lot of people don't realize that the market can be fluctuated and moved about so freely. Debt is easy to get and easy to pay off but you have to be able to do it.