You guys are pressing the panic button and causing alarm by
looking only at the Credit and Debit of a Current Account.
Have you considered the Total Accounts of the USA - that
covers the entire spectrum of the US Economy that include
all the "Works-in-Progress" ?
Based on a conservative estimate, the US Economy is worth at
least ten times the current debt on paper that is causing you
to ring the shrill alarm bells.
However, if one is to look at it all - in the
simplest level - as long as the US and the Global Economy keeps
functioning, the continued roll-over or turnover of
transactions will generate sufficient positive gains over time to
cover the current debts.
The point is to keep the ball rolling.
The graphic presentation above is the nearest that I could
find - and even though it is dated, it is enough to show the
"wealth" that the USA can draw from to fund their way out of their
present 'financial quaqmire' - which is not yet a 'financial black
hole' if both of you can understand the difference being a
"quagmire" and a "black hole"
If the USA should continue with the financial trend that George
W Bush had created during his last ten years in office,
one should certainly raise all the alarm bells at the
continued inattention from the US Government to the
growing risks of an obvious catastrophic financial melt
down.
Fortunately, the present Obama's Government had the good counsel
of public spirited and successful private
entrepreneurs appointed as economic advisors to his Government.
The continued alarmist outcry and criticism of the USA
without fully understanding the underlying strengths of the USA
will only backfire on both of you.
Hold your breath for the next five years, and you may live
through the stresses that you have caused for yourselves.
Are you familiar with the ‘Economy of the United States’. ?