On Sep 17, 2009, at 12:04 PM, mike wrote:
You need to read more. Geithner is monetizing our debt and Obama
and team
want to raise our debt ceiling again, this has been done several
times by
both parties. This isn't about some hated neocon vs liberal wackos,
this is
both parties ripping us off. The fed which can print money on
command it
seems, printed and bought 7 billion in debt from the US Government.
So we
have the debt ceiling over 12 trillion, which is more then
thousands...and
we are monetizing our debt into the billions..also more then
thousands.
Some want to keep arguing left vs right, this is a distraction and
keeps
those screwing us happy because it keeps the spotlight off what they
are
doing.
You are either ignoring or can't understand the graph of national debt
as percent of GNP that I posted earlier. The current debt, while high,
is nowhere as high as it has been before. It has already been
demonstrated that a debt of this size can be handled and paid off when
the economy is rolling again. Spending money on stimulating the
economy is a wise investment. The means of paying off the debt are a
logical result of the expenditure. Such expenditures are really
investments that pay off later. Contrast this to the cost of launching
a series of foreign wars. In the old days,when you could cart off all
of the losers belongings, one could argue that war was an investment
that would pay off. That is no longer the case. I guess the neocons
were not aware of this change.
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