Musicmystery
Posts: 30259
Joined: 3/14/2005 Status: offline
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quote:
ORIGINAL: Sanity Thats twist-and-spin speak for "We haven't been this deeply in debt since WW II" And where we are headed by continuing to exponentially add to this monsterous burden of debt is certainly a crisis quote:
ORIGINAL: Musicmystery quote:
ORIGINAL: Sanity Considering the debt spiral we are in and the dire eventuality that we are being steered toward, Just like Greece Greece, with a $312 billion economy, has a 165% debt to GDP ratio. That's bad. The U.S., with a $15+ trillion economy, has a 1 to 1 debt to GDP ratio. Not great. Not a crisis. In the 1940s, it was 110% of GDP. We didn't implode. We DID, however, do sensible things, like raise taxes when we were spending lots of money on wars. Then I'd love to hear the Republican plan. So far, they just want to (1) spend money the military doesn't want and (2) cut taxes and further exacerbate the shortfall. Remember, we were covering this before Bush's and then Obama's tax cuts. When we spend more money, we have to fund it. Not magically self-funding wars. Insurance mandates, however unpopular, are funding.
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