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On Tue, 19 Apr 2011 20:34:37 -0400, wrote:

On Tue, 19 Apr 2011 10:23:08 -0700, wrote:

On Mon, 18 Apr 2011 23:57:48 -0400, wrote:

On Mon, 18 Apr 2011 22:05:47 -0500, Boating All Out
wrote:

In article ,
says...

You and the boater guy still confuse debt with an asset.

Nope. I understand exactly how SS and debt work.
And I believe debt should be repaid.
You're a welsher, but just won't admit it.
Dance, dance, dance.
Won't turn a con job into a ballet.

It isn't just me. Anyone who understands basic arithmetic knows you
can't pay out more than you make for very long.

Except this isn't your credit card. It's a very complex equation with
complex equation with lots of accounting variables. While it's
certainly true that one can't pay out more than one makes for very
long, "long" is a relative term. We've had deficits for decades and
the national debt has been around since the revolution.. something on
that order. There is absolutely no reason to start foaming at the
mouth and claiming it's near term crisis. Perhaps it's a mid-term
crisis. We can start by increasing taxes on the richest Americans,
reigning in corporate tax avoidance, reducing military spending,
dealing with fraud/abuse. We should not be starting with putting this
on the backs of a struggling middle class.

The last time we had this much of a deficit we had just won WWII. The
rest of the world was a smoking hole in the ground and we owed most of
the money to ourselves. If people wanted to buy things, they had to
buy them from us.
That is not the case now. Other countries own a good chunk of our
debt, bought with dollars we paid for their goods. We are buying more
than we sell only making the problem worse.

Yes, and thanks GWB for getting us in this spot. Thank GOD Obama isn't
beholden to corps anywhere close to how he was..

Other countries have always owned a "good chunk" of our debt. They're
buying it because it's valuable. Don't you get that? They're not going
to cut off their nose to spite their face.

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