Quote:
Originally Posted by smc
I would be interested to know why everyone seems to buy the line that the "massive deficit" is somehow a problem of earth-shattering importance. I do not deny that the United States carries a massive deficit; governments are expected to do so. But making it an issue with catastrophic overtones is, I believe, a red herring, used as an excuse by those whose true agenda is to slash social spending.
|
Personally, I am very adverse to debt, I have seen how destructive it can be. I see no justification for social spending based on debt. Social spending should be based on productivity of the economy.
As governor of California, Earl Warren used to say, we pay as we go. that's the only way an economy can be sustainable. California was thriving in those days.