In may, several corporations will be required to pay back over 700 billion dollars that they have incurred over the years. Several may or may not be able to pay the money back. Furthermore, the country needs to borrow several trillion dollars, but unfortunately there is not enough money to go around. For instance, a lot of banks usually are able to give such money to the country when they need to borrow it because of the amount of loans and bonds that people have. Unfortunately, due to the credit-crisis and faltering economy, banks have suffered because there aren't any people who have been able to take out loans and most of all pay them back. A lot of people who have had properties foreclosed is another example of banks not being able to pay back their debt to other companies. Even though some properties have been foreclosed, banks are unable to find people to sell them to. So this ripple-effect has affected everyone.
Specifically in for the amount of debt incurred, it is really hard to see if this problem can be fixed. I think that the senate can find a proper solution. Corporations, should also make sure that they keep track of their finances and accounts so that they are not spending more than what they can afford, and that they can most of all pay it back to the government.
http://www.nytimes.com/2010/03/16/business/16debt.html?src=me&ref=general
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