Will Americans EVER be able to get out of debt?

[crgarcia]

Or will heavily-indebted-Americans-generation die before getting out of debt?
(the debt "resets" when they die, as debts can't be inherited)

 

[S2007S]

Yes, all they have to do is go long stocks, all debt will be paid of by DOW 15k+

 

[jueco2005]

Unless they all default paying 29.99% in credit cards................they wont.

 

[dumb_mother]

how can we get out of debt when our plan for the foreseeable future is to continuously increase our level of debt combined with a demographic change that will likely leave fewer younger workers around to even attempt to dig our way out.

the markets may rally for now, but if you are under 30 and think our country won't collapse in your lifetime... wake up.

 

[antitrust]

if we didn't have any debt we wouldn't have any money

that is what our money system is debt

 

[Lethn]

Shows you how worthless our currencies are then doesn't it?

 

[GTS]

http://www.usdebtclock.org/

 

[rew]

Quote from crgarcia:

Or will heavily-indebted-Americans-generation die before getting out of debt?
(the debt "resets" when they die, as debts can't be inherited)

Nonsense. I don't care if all your mortgages, car loans, and credit cards are paid off -- Uncle Sam has $100,000 of debt just for you. And it won't reset when you die, your kids will inherit it.

 

[Scataphagos]

Quote from crgarcia:

Or will heavily-indebted-Americans-generation die before getting out of debt?
(the debt "resets" when they die, as debts can't be inherited)

Well, sort of. Creditors can claim against the estate. Once the estate is drained of all assets, THEN remaining debts need be written off by creditors.

 

[MohdSalleh]

china and japan will forgive all our debt if we give them Hawaii split between both of them