make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Marino on Money: April 21

READ MORE: Marino on Money: April 21
marino0420_300.jpg
This week, Marino on Money addresses the question of how our government manages its money. Q: Who do we borrow from? A: The majority of the money our government borrows is from foreign investors, or foreign central banks. We do this because our economy does not generate enough tax revenue to pay all of our bills. Our government needs to borrow money, just like we would borrow money. Our government runs a deficit. The Congressional budget office expects the deficit to be roughly $1 trillion dollars this year. Meaning, our government will spend $1 trillion more than we make in 2009. They also estimate we'll spend $9.3 trillion more than we make in the next 10 years. Scary. So, how do we borrow all of this money? Investors, like foreign central banks will loan money to us for a period of time. We pay them interest, and eventually we must pay back the principal. The national debt is now over $11 trillion. We are paying interest on it, and eventually, we need to pay it back. We borrowed the money for a specific period of time. We will need to repay it. How are we going to do that? There are a couple of possibilities. We will look at those tomorrow. Ross Marino will be answering questions on our 5 o'clock news every Tuesday, Wednesday and Thursday. If you have a question, visit our Marino on Money page.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.