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CharlesBHoff
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el paso texas
May 2002 time: 05:19
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quote: Originally posted by Last Conformist
National debt at 37% of GNP? Tsk. Newbs. |
The National Debt at over 37 % of GNP is bad new and is why the Euro has more value than the dollar right now. China is remove the peg with the dollar to than basket of Asian currently and the Euro. The interest we pay on borrow money will go up as our percent of debt to GNP go up.
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Pax
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quote: Originally posted by Ned
Once upon a time. But Chirac and his people were on the take from Saddam big time. There is also no question that France supports the fascist Arabs and opposes the democratic Arabs. | Can you identify the fascist arabs and democratic arabs. I don't think I've familiar with either group.
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Serb
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Siberia, Communist party of Apolyton
Nov 2001 time: 11:19
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edited
Last edited by Serb on 15-11-2004 at 16:28
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Serb
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Siberia, Communist party of Apolyton
Nov 2001 time: 11:19
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edited
Last edited by Serb on 15-11-2004 at 16:29
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Serb
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Siberia, Communist party of Apolyton
Nov 2001 time: 11:19
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I'm terribly sorry. I didn't know.
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Ned
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of Aptos, CA
Oct 1999 time: 21:19
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quote: Originally posted by Oerdin
Ned, I will agree that it is better if the debt is decreasing as a percent of GDP and I agree there are other countries who have acted fiscally more irresponsibly then the USA has, however, I truly believe in balanced budgets. I truly believe that it is better for the future of our country if the government is run like a business and lives with in its means. What type of business can post losses like Bush has and not fire its CEO? What business could run loss after loss and not take corrective action without being decimated by the market?
I may be a social progressive but I remain a finical conservative who thinks our country shouldn't dump huge debts upon our children. Ned, you are married and most likely have children. Do you believe they should be stuck paying our bills or do you think we should be disciplined enough to pay our own way? I don't care if we cut government spending or raise taxes but to run up debt is horrible. I work hard to avoid debt because it is good economic management for me personally and I expect my elected politicians to also excursive good economic management over the public finances. |
Oerdin, you are completely ignoring the economic effects of spending. Spending is like fuel to an engine. The more fuel, the faster the car goes.
The problem with borrowing the money to spend is that the borrowed money adds to to the money supply (debt = money). If too much money chases too few goods, we get inflation. So the trick is to balance economic growth and money supply expansion so as to minimize inflation.
As to me personally, let me tell you that debt is essential. For example, I borrowed money to buy the house I'm in. I still owe more than half that money to the bank. But, at the same time, my house has more than doubled in value. Now, if I die tomorrow, my kid gets a house in Kalifornia with a debt about 1/5th of its value.
Investing in the economy operates in the same way.
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All times are GMT. The time now is 05:19. Apolyton Time is 00:19. |
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