Even Angola has a budget surplus, when is US government going to show a surplus?

@scheng1 (24948)
Singapore
January 13, 2011 9:36pm CST
Many Africa and Asia countries are showing a budget surplus, when is the US government going to learn to balance the budget? It is sad to see that developing countries with less educated people, and technologically backwards are doing so well. They are making money, while the mighty US is losing money every year. When do you think a reversal will occur? Do you think US will ever pay off the debt and have a permanent budget surplus?
4 responses
@dragon54u (31340)
• United States
14 Jan 11
We had a surplus years ago but we now spend way more than we take in. We have the senseless military action in the Middle East to pay for, entitlement programs that provide food and shelter for people and all kinds of projects that we are paying for but don't need. Our representatives work to draw money from the government in order to build things or provide programs in their states so that they can get re-elected. They don't care about the financial health of the country, just their re-election. Our representatives keep raising our debt ceiling, too, because if they don't they will have to start cutting spending and that will make them unpopular. It is a mess. If we as citizens lived that way we would all be bankrupt. We have a new groups of representatives in office now that have promised to cut spending and balance the budget. I don't believe them but all we can do is wait and see while the country circles the drain (goes bankrupt and ruins).
1 person likes this
@scheng1 (24948)
• Singapore
14 Jan 11
Hi Dragon54u, if ordinary people live like that, and expect the government to pay off the bills, then the government will tell them to sell off their house and car. When it comes to government expenditure, all they have to do is to issue treasury bonds, and expect countries, such as China to buy from them. If nobody buys the bond, then they will just keep on printing money to pay for the debt. If we do that, we will go to jail.
@spalladino (17927)
• United States
14 Jan 11
Perhaps the mighty US should stop sending money to those developing countries. I wonder how well they would be doing without that support? And then we would keep more money in this country which would help balance our budget. Of course, we can't do that....someone might complain.
@scheng1 (24948)
• Singapore
14 Jan 11
Hi Spalladino, the mighty US has not enough oil, that is why it has to send money to countries like Angola to buy the oil. I think when US starts to focus on economy building, and less on starting wars in other parts of the world, it would keep more money in the pocket without increasing tax.
1 person likes this
@Taskr36 (13928)
• United States
14 Jan 11
Buying is different than giving money scheng1. The US GIVES money to Angola as well as many other African nations. If they have a surplus then we need to cut them off.
1 person likes this
@spalladino (17927)
• United States
15 Jan 11
Thanks for responding to that taskr. This member clearly does not understand the difference between receiving payment for selling something of value and receiving welfare money from a foreign country.
@lampar (7597)
• United States
15 Jan 11
It is doubtful U.S government will want to have a balance budget, let alone a surplus one. There are way too many entitlement programs in U.S that elected officials believe can not be cancelled without hurting the country and its economy, until all those assumptions are rejected by the voters, it is just another way for the present big government idealogy to direct future direction of this country. For majority of Democrats, an idealistic U.S is a country that big government can spend its way to prosperity and development, it is unlikely as long as democrats are in control of the congress and white house will want a reversal to occur, other than continue spend its way to higher debt for the next generation of American. It is also unlikely U.S is able to pay off its debts within the next decade, as it is actually not a worry for the present adminstration and those in power since the next ruling political party will have to deal with it as it is U.S politic as usual. It is quite unfortunate no U.S government officials will ever like to learn about balacing budget no matter which politcal party (republican or democratic Party) is in power, as many politicians believe they are entitled to every luxury in life without working for them. I am afraid you wishes will not materialize anytime soon.
@scheng1 (24948)
• Singapore
15 Jan 11
Hi Lampar, I think the system of re-electing a new administration every four years, and spending big money on election campaign is one of the causes of the problem. Each administration just wants to make sure that the problem is rolled over to the next generation. As long as they do not need to solve the problem, they are free to add more debts for the future generations to tackle. I think the approach is very short sighted.
@lampar (7597)
• United States
16 Jan 11
It is alot difficult for elected representatives to look over the fine line in any budgetary planning to make sure their expenditure is spend in line with the revenue it collect, by having a deficit budget, congress can give the government officials a free hand to spend indefinitely, in turn will raise the possibility of representative getting re-elected in the next election by his constituents. Unless voters can reject such irresposible politician from holding office, the freedom to add more debts to the next ruling party is always a very tempting undertaking by any new administration. Bush add plenty of debt during his two term in office, and now Obama is adding more debt and dig the debt hole deeper in his term. It is crazy!!
@louievill (16346)
• Philippines
14 Jan 11
You see the U.S. economy has been up up up since after the second world war so as with most other western economies,you see friend everything moves in cycles and that includes economics and how fortunes are made. Nobody stays up forever in the same way nobody stays down forever as seen throughout the history of man, and sad to say manifested itself in the last down turn which some experts would also term as the great equalizer. Don't worry about America, they are a very resilient peoples as they have shown in the short course of time they have been a nation, so long as they stand on the principles of freedom,God and democracy like their forefathers, it won't take long before they will be back on track again