My teenage daughter dosen't think running a deficit is a problem.

Nor do all the folks taking out 30 year mortgages to buy a house.

Deficit spending is not inherently evil IMO, but our "have our cake and eat it too" political universe is.

Nothing wrong with debt as long as your income matches your spending habits.


http://www.azcentral.com/business/articl...ut-from-eu.html

I have said it before, the real problem is the economy. We are in terrible financial shape on the federal, state, and local level because of the economy, not the debt; the debt is in good part the result of the bad economy. Fix the economy, then you go a long ways to fixing the debt.

I believe (along with most main line economist) that the stimulus, bail out package, whatever you want to call it, kept us from another great depression.

Now is not the time to cease pumping tax money into the economy, where it is warranted. For example, terrible time not to extend unemployment benefits, while simutaneously granting the wealthy a continuing tax break.

It bothers me that the Tea Party has made such a big deal about the debt and now uses that to convince the electorate to cease goverment spending and lower taxes. Absolutely ridiculous IMHO.

There is hope for this thread!...thank you for saving it.

Flashback 1980 my freshman year at WSU Econ201 Professor Schaefer made the argument that you have to look at debt as a percentage of GNP. During Carter we had a national debt of $200B. After Reagan it was over $1 Trillion. Keynesian economics.

If you think the deficit is not a problem, you must also believe that teaching your kids it is OK to lie, cheat and steal. Walking out on a deal speaks very loudly about one's character....or in this case....one's country's character.
But then that seems to be the times that we live in.....like that is an acceptable excuse.
Respect is earned...all the way from the top to the bottom. Simple.

Looks like the deficit just grew some more......

http://www.bloomberg.com/news/2010-11-19...an-indians.html


"The House included the funding in war supplemental legislation it passed this summer, but it must vote on the settlements again. The Senate version of the war supplemental did not contain the funding to settle the lawsuits because Republicans objected to the proposed financing method, saying it added to the deficit."