Post by
Bubba1 »
https://forums.nicoclub.com/bubba1-u2509.html
Wed Feb 12, 2003 6:59 pm
89SX, who's going to loan you money ever again if you DON"T pay your bills? What do you think a lender is going to do when a large customer stiffs them. They don't say "gosh, this is the USA who's stiffing us, of course we should allow that. No, they're going to recoup their money elsewhere, which means interest rates would SKYROCKET, which will essentially kill the economy. And if a lender were still crazy enough to loan money again to a complete stiff like you're suggesting the US government become, what interest rate do you think the lenders would charge? A whole lot more than they're chargin now. This is real money, not monopoly money. Have you ever wondered why that 6 trillion dollar debt has NOT been simply erased yet? Because it would be a financial disaster for this country if we walked away from it.
The national debt been growing at an accelerating rate since our revered Ronnie was took office. He saw the way to win every election was to give American voters exactly want they wanted to hear: lower taxes, a jump-started economy and at the same time, increased military spending. Admirable sounding and popular, but difficult to deliver as one piece of this agenda works against the other, Ronnie accomplished by simply proposing to max out the nation's credit card. That's all he did. Very simple, but too simple. As a country in a recession. we loved the sound bytes and bought it hook, line and sinker. But from individuals to corprations to giant governments, the laws of economics apply to all. But to a politician, that time to pay back debt can occur after he/she leaves office, thereby dumping it on the next generation to pay for it while he/she rests with a cushy government paid pension. It needs to change and we all have the ability to change it by voting out the morons who are making it worse, and electing people who will do the right thing. Dubya's following Reagans lead by proposing to increase the deficit even more. Is it any surprise he bankrupted every company he ran? You can't spend more than you take in. He obviously hasn't learned that yet. Ok, I'll stop the politic/economics 101 lecture and take my lumps. Flame away.