America has a population of 350 million people. Australia only 28 million people. America has way more debt per capita, but also has huge companies. Australia doesn't even manufacture a car anymore. Nearly $30 billion a year in interest alone. The states have three quarters of $1 trillion dollars of debt as well. The combined state and federal debt will be over $2 trillion by 2030. Where the money going to come from to not only service the debt, but to pay it down as well? More taxes, and a cut to services on the way.
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