Can The US Government Default on the National Debt?

Today, I’m going to take a different tact to address this question. Let’s assume that there is a rich guy who buys $1 million in US Treasury bonds. Hey, fantastic. I’m sure that you're thrilled that he can afford such a purchase while millions struggle. No biggie. That’s just life in America, right? Some people have loads of money to loan the federal government and others, well, they’re just lazy or something. I guess this guy is just more productive and responsible than most people. You see, he’s a “go-getter”; a real visionary that worked hard, played by the rules and went out and made something of himself while others slept in, played video games and now ask for hand outs. You too could have what he has if only you’d pull yourself up by your bootstraps and get some responsibility in your life. Stop being lazy. Hey, that’s life in America.

What Is a Credit Card and How Does It Work?

Most people believe that the concept of the credit card is straightforward: People deposit their US dollars in banks. Banks then offer credit cards. They give you a credit card and a limit as to how much you're allowed to spend. Then, when you swipe the credit card, the bank covers your purchase by handing out the US dollars that their customers deposit and later on, you pay the bank back plus interest. Simple.