"... On Jul 7, 2:45 am, rigsy03 <[email protected]> wrote: ..."
> Are you proposing bankruptcy? Or long term debt? Maybe Michelle should > start a campaign for tightening one's belt when she finishes with > obesity's waistline. Long term debt, of course. Bankruptcy only leads down the same spiral tunnel as austerity. Debt can be dealt with in numerous ways (and likely will be) that will never result in an increase of the taxpayers' burden. The economy can be easily compared to an engine. On cold days when the engine does not want to turn over and start up, you don't lean out the fuel mixture, you richen it. You give it more fuel. An economy's fuel is money. When the economy won't turn over and start running on it's own, you feed it money. The problem with the first two stimului were that they were not big enough for the size of the crisis. But back to WWII, the enormous (for it's day) debt run up during that war which included the foreign aid largess we showered on friend and former foe alike, never ever resulted in a higher tax rate for the people. WWII hardly cost the American taxpayer a dime. The fifites and sixties were times of very low taxes, tremendous job growth and a vast increase in the wealth of the middle class. However eventually other things did drive up the tax rate, but we've still got one of the lowest tax rates in the developed world which is one of the major factors in the American dollar being continually turned to as a safe haven for investment in times of adverse risk.
