What do the stripes on the US flag stand for?

Since so many people seem to be looking for the answer to this question, I thought I'd write this.

The 13 stripes represent the 13 colonies of the United States at the time the flag was designed.

There's different stories about the colors. One is that red was inspired by the British colors and the white cutting through them represents the succession from the home country. Another idea is that red signified bloodshed and white represented courage.

There is several popular ideas on what the colors stand for but I've never seen a definitive answer.
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