Does the national debt effects our career and business in the future? especially when the us owe so much money

the us owe so much money to foreign countries?

One way it is affecting all of us right now is gasoline prices ... in other answers on Yahoo Answers about the price of gasoline, I have talked much about supply & demand on the world market.

Another factor is the value of the dollar, which is dropping rapidly in the world market. This means more dollars are needed to buy things that in the past needed less dollars.

Do you know what happens to an ordinary person who owes a lot of money compared to income coming in? Stuff gets repossessed, have to declare bankrupsy.

Can that happen to a nation? Sure can. Most of our treasury bonds are held by foreign investors. If they lose confidence in America and move their assets to Europe or some other market, those bonds have to be paid, with interest.

US finances are like a pyramid scheme or a house of cards, but don't rely on me, a nobody sharing my opinion, check out some speeches by one of the people in the USA who should know the facts:

"Saving Our Future Requires Tough Choices Today," by David M. Walker, comptroller general of the United States, at the Heritage Foundation Conservative Members Retreat, in Baltimore, Maryland. GAO-08-500CG, January 30.
http://www.gao.gov/cghome/d08500cg.pdf


"Addressing Fiscal Sustainability and Fixing the Social Security System: Two Challenges Facing the Nation," by David M. Walker, comptroller general of the United States, before the AARP Board of Directors Annual Public Policy Meeting, in Washington, D.C. GAO-08-524CG, February 14, 2008 [slides]
http://www.gao.gov/cghome/d08524cg.pdf