Thanks 8 Trillion
Hat Tip: Free Republic
The Bureau of Public Debt reports that the U.S. public debt reached $8,000,000,000,000 3 days ago.
When a bank makes a loan to a person or corporation, a risk assessment is made to see if the borrower will pay the money back. When the government borrows from the people, to the tune of $4.6 billion directly, people need to make a risk assessment as to whether that money is coming back. Can we see in the future $8 trillion in today's dollars coming back to its creditors? If not, why buy more U.S. bonds? Even if bonds are being paid, what other public debts are being racked up in order to make that happen, since we're in a deficit situation?
It's true that we need to put people in office that commit to paying off the debt by reducing spending. Yet other choices can be made, more frequently. Some have U.S. bonds or Treasury bills bought every paycheck. Is that not a biweekly or monthly choice to facilitate bad fiscal management now?
The Bureau of Public Debt reports that the U.S. public debt reached $8,000,000,000,000 3 days ago.
When a bank makes a loan to a person or corporation, a risk assessment is made to see if the borrower will pay the money back. When the government borrows from the people, to the tune of $4.6 billion directly, people need to make a risk assessment as to whether that money is coming back. Can we see in the future $8 trillion in today's dollars coming back to its creditors? If not, why buy more U.S. bonds? Even if bonds are being paid, what other public debts are being racked up in order to make that happen, since we're in a deficit situation?
It's true that we need to put people in office that commit to paying off the debt by reducing spending. Yet other choices can be made, more frequently. Some have U.S. bonds or Treasury bills bought every paycheck. Is that not a biweekly or monthly choice to facilitate bad fiscal management now?