Question by  ajamitrano (18)

How did the US become a debtor nation?


Answer by  npatin44 (258)

The US became a debtor nation by consuming more than it produced. We import roughly half our oil to meet domestic demand and our manufacturing costs are too high to compete with foreign produced basic goods. When anyone buys more than they sell money has to be borrowed to finance this consumption, and this comes largely from foreign savings.


Answer by  Lynore (191)

In 1913 a group of rich bankers stole our ability to print our own money by forming the Federal Reserve bank. Since then, when the treasury prints a dollar, that dollar is owed to these Feds with interest. So all of our money from the start is debt. EndTheFed


Answer by  Skullwing (746)

The US no longer manufactures as many items to sell to other nations as it has in the past. As such the US then must buy many of the products it once made from other countries but has little or nothing material to sell to these countries in return. Therefore it must pay for these items by accumulating debt.

You have 50 words left!