is there really a way that we can pay the national debt off?
149872
Good answer ybhviper... very astute analysis\n\nI might add there are ways that COULD help.... some conventional, some unconventional...\n\nThere has been some weird talk of a national Lottery... with procedes going directly to debt relief... but then Gambling would have to be embraced by the Fed.... dunno how likely that will be\n\nTax on something other than income, where people readily spend and would not stop spending because of an additional 5% or so tax.... but that makes for a popularity nightmare\n\nCalling on those that do owe us money... or even asking those we have assisted in other ways to wipe out portions of debt we owe them (Japan, China, etc), in exchange for favorable decisions in their favor (Trade wise, treay wise etc)... \n\nBut in all reality, we will never be free of federal debt... the debt helps the economy roll to an extent.... I could see severe effort towards debt reduction.. but I don't know how the Dems and Reps can work together on that, when they are on each others heels about even the smallest things, like stink on a monkey... riders, pork barrel add ons, government as charity relief, government handouts, etc need to be seriously eliminated to bare minimums... I just doubt that with any politician, we will see it
89253
besides putting our wallets further into the red, I am not sure. It doesnt sound like its going to be something the "average joe" is going to be able to do... its going to be for the wealthy to find a way to take it off as a tax write off.
661938
Hi, i would like to introduce to you something incrediblely amazing new method of becoming more financially free. \nI am not joking, serious about it. Its a new system created not long ago and has tremondous potential to expend. Sky is the limit.
499866
It's possible, but the interest rates on those kind of loans are killer.  \n\nInvesting money you don't have in a home is a really good way to lose the home - and all the payments you've made on it.
39758
Yes it does.  Take out a loan to pay off all your other loans.  If all your debt is in credit cards this can be a good idea.  May I recommend the book Destroy Your Debt by Samuel Blankson.  This has become a very popular book on getting out of debt.
766117
well the national debt i believe is like 4 or 5 TRILLION... so that's what 4 or 5 thousand billion.  I know he say's 9/11 alot, but probably not more than 4 or 5 thousand.    so, i guess the debt wins...   hahaha
1049505
Maybe you can do it the old fasioned way:  go door to door, and ask people to give you money.\n\nIf that doesn't work, write letters to rich multi-millionaire Democrats like John Kerry, Ted Kennedy, Barbara Boxer, Chuck Schumer, Michael Moore, and Hillary Clinton.  They're always telling us the poor deserve more, well, here's their chance to step up and lead by example.
219711
Yes, it's possible, if it doesn't pay the old debts and have new debts
1029623
the U S government will do better than that. They will give you a 5% return annually even though they have not made any money in I do not know how long.  They are sort of a ponzi, I think. They keep borrowing more money to pay off those from whom they previously borrowed money.
124075
You would think so, and so would congress, and on paper it probaly does.  But the national budget for the last few years has meant nothing at all.  Absolutley nothing.  We spend even though we don't have, so what does it matter that we're off by a couple of trillion? Congress can always just allot more money for whatever as it goes along.
221291
Yes, I'm pretty sure that they can do that. I've known people who have had this happen to them, and there is really nothing you can do, except ask the company if you can pay it back gradually over time.
773792
If you mean "statute" of limitations, then yes, there is one.  However, the time doesn't begin to run until the debt was due. some 10 or 20 years after you borrowed the money.  Furthermore, if it was guaranteed by the government, as most were, then the debt to feds wont accrue until the feds pay it off and come after you.  So, while the answer is yes, it is unlikely you will get away with stealing the money by not paying your debts.
729576
No, but its not very sensible as you are continuing to mount up interest charges.  Contact them and see if you can come to some arrangement which will make it easier to pay.  \nDONT IGNORE IT ANY LONGER!!!!
266036
We have to have taxes, there is no easy way around that.  But, we would be better off if our government uses our taxes more effectiveley.
1146922
It's not impossible. Britian does it NOW! What has to happen though is that the free healthcare will come directly from taxes, so our tax rate would jump to about 15-20%. England does that now and it's working fine. I think it definitely CAN be done.
186284
Getting out of debt takes time and committment.  It can be done legitimately by paying off your debt.  It just takes time.  Ask yourself, do I need it or do I want it when spending and then if you want it, don't buy it.  Don't put too much pressure on yourself and just operate in cash only now.  There is a light at the end of the tunnel.
327732
the debt is at it's highest in NUMBERS, but not in RATIO TO THE GNP. the highest debt america incountered in money over gnp is the jfk/johnson era. talk about cut programs.