"thunder" wrote in message
news
On Tue, 02 Dec 2003 20:13:15 +0000, NOYB wrote:

If I take out a balloon note from bank A that expires in 5 years, and
then
take out a note from bank B to pay off that note...and then get another
note from bank C five years later...and so on, and so on...the bill
never
comes due. The problem is, a bank is eventually going to tell me
they're
no longer going to lend to me, and the game ends. Well, that doesn't
happen to the gov't.

Of course it does. The government isn't exempt from the laws of
economics. If it were, we never would have heard the term inflation.
Deficit spending is an important tool to fight wars and combat recessions,
as we are doing now, but it is not without risk.

If it's cyclical deficit spending, then it's virtually without risk. Of
course, the risk is that the economy doesn't recover *despite* monetary
*and* fiscal stimulation...perhaps due to a catastophic terrorist attack.
However, the economy appears to be well into a recovery.