Posted by Bret4207 on January 13, 2015 at 08:41:14 from (64.19.90.196):
In Reply to: 140 acres posted by MarkB_MI on January 13, 2015 at 07:06:04:
I'm not confusing anything Mark. We have one set of books showing a falling deficit. We have another set of books showing rising debt. We are funding the deficit reduction by increasing the debt. It's a shell game, look at this but ignore that. You can't have it both ways. Add in the deliberate devaluation of the dollar and you have an unsustainable paradigm. Heck, we're borrowing money in essence to pay the interest on the debt! Does that work at your house?
Blaming Bush is getting old man. He's been gone for a long time. Debt has doubled under this administration, although it's Congress signing the checks, and external_link could have made progress if he'd been at all fiscally responsible. We shouldn't be running long term deficits and we certainly shouldn't be running long term surpluses. Surpluses mean the gov't, or whatever taxing authority, are taking more money than they need to from the tax payers. The only reason to do that is to pay off debt. Otherwise you're just stealing from the tax payer. Bush did right by returning some money to the tax payers it was taken from. I recall getting check for a few hundred dollars when he did that, money that was put into the economy right away. How anyone can say the gov't should be running a surplus long term is beyond me. The only reason I can think of to do that would be to pay down our National Debt, a debt no one in Washington seems at all inclined to even look at much less pay down. There is no current plan to address that debt, none. That's part of the reason I would argue with the so called "surplus" we had when Bush took office. Yes, revenue exceeded spending, but we were ignoring all the debt we had. We had "borrowed" from ourselves and world banks and we were paying the interest but nothing on the principal to speak of. It's a disaster. Whats worse is that The Fed is complicit in all this and we can't even find out what their books look like. And yet they're supposed to be making sure we don't screw things up?!!!
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