I ask for information, not for argument... - Cat Forum : Cat Discussion Forums
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post #1 of 20 (permalink) Old 02-10-2009, 11:24 PM Thread Starter
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I ask for information, not for argument...

How does ignoring the growth of the national debt affect the US economy?

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post #2 of 20 (permalink) Old 02-11-2009, 12:18 AM
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Re: I ask for information, not for argument...

Negatively. I do not see any good from trying to ignore a problem and not taking steps to resolve it.



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post #3 of 20 (permalink) Old 02-11-2009, 05:39 AM
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Re: I ask for information, not for argument...

It's the Scarlet O'Hara theory- "I'll think about it tomorrow". Seriously, I don't know what the answer is to fix this mess, but something drastic has to be done.


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post #4 of 20 (permalink) Old 02-11-2009, 09:57 AM
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Re: I ask for information, not for argument...

When you find yourself in a hole...stop digging. We need [the gov't] to stop spending.



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post #5 of 20 (permalink) Old 02-11-2009, 11:12 AM
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Re: I ask for information, not for argument...

Well, debt is in general bad. But, it can sometimes be better than the alternative, and there seems to be wide agreement that this is the case here.

Sort of like chemotherapy: pumping toxic chemicals into someone is clearly bad, but in some situations NOT pumping toxic chemicals into them is even worse. Sometimes in a lose-lose situation you have to go for the smallest loss.

It would be much better if we weren't going into this situation with tremendous debt racked up over the previous 8 years, but unfortunately there's nothing to be done about that now.
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post #6 of 20 (permalink) Old 02-11-2009, 11:39 AM
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Re: I ask for information, not for argument...

We have a similar situation over here, John.

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post #7 of 20 (permalink) Old 02-11-2009, 10:07 PM Thread Starter
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Re: I ask for information, not for argument...

I didn't know Britain had a similar problem, Allie. *sigh*
I asked because it had occurred to me that a growing national debt could, indirectly, lead to more inflation. And God knows we don't need that, on either side of the Pond.

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post #8 of 20 (permalink) Old 02-12-2009, 02:25 AM
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Re: I ask for information, not for argument...

Yes, Britain is in a mess with it too
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post #9 of 20 (permalink) Old 02-12-2009, 06:52 PM
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Re: I ask for information, not for argument...

I laughed when I saw the title of this thread. I thought it was going to be about a thread gone bad.

I think that more emphasis should be put on debt service -- what percent of government revenue is required to service the debt? It's like when you buy a house you're concerned with the purchase price but the primary deciding factor is usually the monthly payment. If the monthly payment is too large a percentage of your monthly income, then the debt is too much for you to carry. And debt service is related to other factors beside just the amount of the debt: increasing interest rates are unfavorable (bigger payment) and lower tax revenues are unfavorable (lower income). How often do you hear the talking heads on TV news mention debt service? I'll bet never. Do you know what the total debt of the U.S. is? I'll bet a lot of people can give a ball-park number because it's been mentioned so often on TV. But do you know what percent of the government revenues go to debt service? And what percent of the GDP is government debt service? (tax revenues depend on GDP.) Lemme see.....I'll have to go ask my old buddy Mr. Google.
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post #10 of 20 (permalink) Old 02-12-2009, 07:06 PM Thread Starter
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Re: I ask for information, not for argument...

I thought the title would be a talisman to keep the thread from going bad.
Seems to have worked, so far.

But you bring up a good point, Tim. The network news talking heads never mention the national debt, or anything related to it. It seems to have become a "politically incorrect" subject.
My original thought was that it could have the effect of increasing the trade deficit. Am I wrong about that?

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