Quote:
Originally Posted by TracyCoxx
That's not what I said is it? The debt generated over the last 40 years, 8% of which you could say is Bush's (and the congress') would have to be paid if government continued like it has under Bush. With Obama, now 21% more debt will have to be paid. Hopefully his next 3 years won't be so traumatic, but I'm not holding my breath. Criticize what I'm saying, not the words you're sticking in my mouth.
No, I am including the Wall Street Bailout. I still don't think you are clear on how unprecedented this is.
Look at this chart on our monetary base over the last 100 years:
http://research.stlouisfed.org/fred2...ax_630_378.png
You can see how much money BO artificially put into the economy. That is all debt. We are in deep shit territory. |
Tracy,
Is it all really debt? It seems a lot of it is investment in company stock and the TARP money apparently is temporary loans to banks. If the economy recovers, I would like to think that this massive "debt" will diminish before we are eaten up by inflation.
Lots of ifs ands, buts, maybes and hopefuls
