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Originally Posted by GspotProductions
China & Japan are the USīs biggest creditors, doubt if Trump will cut these ties, where else will they borrow the money to do all the things he wants to do, to make America great again pml!
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The biggest reason for debt as high as they are now is the loss of exports of manufactured goods.
Not only did it remove jobs, it removed the taxes earned by those companies and put people into relying on the State rather than contributing to the State. So long as the present trend continues, debt will rise.
Spain, Portugal, Greece, etc. Problems are they little in the way of a private sector contributing to the taxes to service their debts. Look at how much they borrowed against other countries. Small amounts until they're put up against real GDP. Real GDP is dropping in the West. We are now too reliant on the casinos that go from boom to bust too easily.