national debt by country wikipedia

National Debt? How will we pay this?

The Clinton administration had balanced the budget and paid off a large portion of our national debt, back then roughly 5.3 TRILLION dollars. The Bush administration took over in 2000, and since then has our national debt increased by a huge portion: as of April 2008 do we hold a national debt of approx. 9.5 TRILLION dollars, meaning the Bush administration has almost doubled our national debt in 8 years. According to Wikipedia, this amounts to over 30.000 dollars PER PERSON. Now, as a responsible credit card holder I have to pay my debt back. So can someone figure out how to pay this huge amount of debt WITHOUT raising taxes? It seems to me that we have to do something or America belongs to some other country, right?

We won’t be able to. The debt, along with the $60 trillion in entitlements including social insecurity, will be unmanagable. The country will be insolvent.