On Fri, Oct 1, 2010 at 5:27 AM, Jerry Barnes <[email protected]> wrote: > > "There is at least one economic theory claiming that deficit spending is > necessary - that is better to 'saddle the next generation with debt' than > to allow the economy or political structure to collapse." > > One? How about dozens.
That's why I said "at least one". > > > "I do however feel that the government taking money from that fund and using > it to pay for Bush's wars is ripping you off." > > > Raiding SS was a government standard long before Bush took office. If it > wasn't "Bush's wars", it would have been something else. http://www.socsec.org/publications.asp?pubid=540 ...The ability of the government to service its obligations to the Social Security trust funds (that is, to future retirees) is inseparable from its ability to service the entire national debt. The question is not whether the Treasury will be able to repay the 22 percent of the national debt that is owed to the Social Security trust funds. The real question is whether the entire national debt, the sum of all the borrowing from all lenders, is getting out of control. ... ...every Democratic president (Kennedy-Johnson, Carter, and Clinton) left office with the ratio of national debt to income below where it was at the beginning of his administration, while the last three Republican administrations (Reagan, George H.W. Bush, and George W. Bush) have presided over explosive growth of the national debt relative to national income. Since 1960, Republican administrations have added 38 percentage points to the national debt/GDP ratio, while Democratic administrations have subtracted 23 percentage points from that ratio.. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:328414 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
