Just Curious

[Iron Man]

I know that the majority of our debt is from borrowing from China, but WHEN did we do this? I have never heard of this before and I wish to be enlightened.

[Giles]

By 'our' debt I assume you mean the USA?

[Iron Man]

Well, yes. Sorry.

[Aves]

I don't even know if it really is from China. It's more than likely from the Great Depression, we never really recovered from it.

[PuppetPrince]

I think it is the Great depression, Yet wasn't there a time where the Chinese came over in like around the area of Cali for like Mining ? for all the gold and such :o

[dontknow2010]

The beginning of the national debt began around the revolutanary period when the U.S borrowed money from France to beat the British.

About China and when did it happen... it was during the Bush years (W. Bush) and deficit spending that the debt became what it is now (you could see how big it is by going to usdebtclock.org... I'm kind of sounding like an advertisement...lol)

The stimulus bills that were passed was borrowed money... oh and the money they gave out during Cash for Clunkers also came from China.

[Peace God]

My question is... when do we have to bend over?

[Iron Man]

So, we have been in the shitter for over 200 years? WTF?!

[Nickk XD]

No, there was one point at which the U.S.A. was the richest country in the world...immediately BEFORE the Great Depression.

Note that the Great Depression was not what caused us to owe everyone. The great depression was just that...GREAT. Great meaning WORLDWIDE. So everyone else was just as poor as us. The U.S. was actually still one of the richest countries during the depression.

Outsourcing (as what you're referring to is called) actually began when Ronald Reagan was president. Prior to the Reagan Administration, outsourcing was frowned upon and in some cases illegal. It was "American Pride"...everything you should buy needs to come from the country you live in. Companies began to petition Reagan's administration to be able to release their employees with less than 6 weeks notice. Once that was completed, companies began sending jobs to China and various other countries. China was so important to the U.S. because they are communist. Since they were communist, they worked for what their government said they would work for. Sometimes for just pennies a day...much, much cheaper for the United States.
So, we have been in the shitter for over 200 years? WTF?!

[dontknow2010]

So, we have been in the shitter for over 200 years? WTF?!

Not really... it's just that before the national debt wasn't as big as it is right now. During the Clinton administration the U.S actually had a surplus and Eisenhower balanced the budget 3 of the 8 years he was president.