Where does the government get the money to lend in the first place? US!

But I 'get' what's going on. It's basically a mortgage. I couldn't have bought my home in cash, so I signed an agreement to pay the bank a huge sum of money over 30 years. The fed is doing the same thing to all the world's governments.

Now this is both a good and bad thing. It's a good thing because all those creditor nations holding our debt want us to be around to pay them back (so no real threat of Russia or China nuking the goose that lays the golden egg).

It's a bad thing because we the people are the collateral.

I've already re-arranged things to not count on Social Security or medicare for my retirement.
John | 11.24.08 - 11:19 am | #

John,
I don't know what your plan is.
Mine involves working myself to death.
Dean Steinlage | 11.24.08 - 11:37 am | #

Dean,

I'd say you and my husband have the same plan. Like John, we never planned on having Social Security or Medicare. Our retirement accounts have lost about 1/2 their value since the start of all this and we're thankful we have another 20-25 years to possibly recover.

We've stopped opening our account statements.
Nerina | 11.24.08 - 2:09 pm | #

American adults need to start apologizing to every child they see.
James | 11.24.08 - 11:13 pm | #

Blood will be spilt, guaranteed.
Joseph | 11.25.08 - 10:49 am | #