08-20-2018, 06:55 PM
(08-20-2018, 03:46 PM)Nebuchadnezzar Wrote: I remember my Sociology teacher at West Hi complaing about how the US debt could reach $1 Trillion and how we would never be able to pay that much money back.
Now we are staring at $22 Trillion in debt? And no doubt, we can't pay it back.
We do need some debt, maybe a quarter or half of what it is now. I read a long time ago that our debt actually helps those that buy it and it's paid back or something like that.
But $22 Trillion is just outrageous and it's not ever going to get better the way our government spends.
Most of the debt is held by US citizens in the form of bonds. A good chunk is held by the SSA on behalf of the citizens. Also, deficits mean that the government is putting money into the economy rather than taking it out. All of that being said, we our politicians tend to think fo deficit spending like a hammer and they see everything as a nail, even if it isn't. That's the biggest problem we are facing.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
