The Iraq War Costs in Layman's Term
For $1 trillion, the US could the double the 663,000 cops on the beat for 32 years.
1.9 million additional teachers for America's classrooms.
Forget fixing roads, for that amount the US could pave the entire interstate highway system with gold — 23.5-karat gold leaf.
Every person on the planet could have an iPod.
Every American's credit card could be paid off.
The IMF can't dictate monetary policy to the US. That's just ludicrous.
The country has been running a current-account deficit for decades. What that means is that the government has been spending more than it's earned in taxes. It can only do that because other nations hoard dollars. Effectively, US wealth and ability to make war is built on the premise that other nations won't spend their cash reserves.
The printing of the US Dollar is dictated by the US Federal Reserve/Treasury. Greenbacks are not backed by the gold standard any longer, worthless fiat money. We are printing worthless paper and that's why the value of the US Dollar is going down the drain. Other countries continue to buy to support the current value, so that they do not lose their investments. We don't have the money to support the countless wars or bailouts of banks, etc. We're borrowing money just to pay the interest on all the trillions of loans that we have taken from China, Japan, etc. from around the world. I hope the Qatari Riyal un-pegs from the US Dollar. Rambling could keep going on, but I'll spare you readers. Our gov't policy on spending makes me so mad!
the US can't just print bills..
the printing of money is regulated by the IMF..
and besides, the dollar will lost its value..
cheers,
paul
It just doesn't work like that. The US just prints more dollars. The rest of the world buys the dollars, and doesn't use them.
The joke is on us, unfortunately.
oh yeah, the loss of this so much money is an indicator of the engineering of falling empire.
Poverty is not for the sake of hardship. No, it is there because nothing exists but God. Poverty unlocks the door -- what a blessed key!
- Jalaluddin al-Rumi
oh wow!i guess mr.president owes an explanation
Keep smiling!
Saggi!