Tracy
Quote:
|
I agree with your last sentence. Over the last 3 years, the democrats have stuck us with spending packages and royally expanded government which greatly accelerates our debts rise to $20 trillion. The debt level and current spending levels has already brought our credit rating down for the first time ever. This limits our ability to care for the segment of our society that worries you so much without putting us further in the hole. Dangerous times... __________________
|
We have gone over the "quantitative easing" and the enormous costs of that program in other posts and threads. I hate it that the banks have got off Scott free on the financial debacle.
The massive debt is indeed very scary, particularly in view of the fact that it has had marginal beneficial effect. Presumibably it prevented a worldwide depression, which is very good. If the economy was back on its feet and unemployment was down to 6% I suspect the huge debt would seem less important.
A lot of that will be paid back with recovery and the rest will be inflated away to the detriment of my and everybody elses savings. It will be good for the stock market however.
Indeed, we are in a serious bind and now Obama wants to spend another 450 billion to reduce unemployment,. Where is that money coming from, more debt? Now he wants to cut employment taxes, further weakening social security. Reinstating the Bush tax cut for the rich would only add 80 billion, where is the rest coming from. A serious slashing of our bloated imperialistic military budget would help alot.