Re: You Can See Romney Grinning . . . From Outer Space

Not to long ago, I looked at a debt chart going back to WWII to the
present, and except for one or two years out of about 65 years, we had
never paid off any of the debt. Instead the debt simply became smaller
due to inflation and growth. The problem is that we don't have the
large growth rate that we used to have and we obviously never will.
What that means is that we will be paying off the Reagan/Bush debts
plus interest virtually forever and that translates into a lower
standard of life, virtually forever. Some economists, perhaps most
economists, recommend that we accelerate the process with inflation,
at about 8% per year, and that will shorten the time period.


On Jun 2, 2:02 pm, EARL DOYLE <lesjul...@gmail.com> wrote:
> HOW in the world do we pay off the debt
>
> On 6/2/12, OccupySpring <soprano.olivi...@gmail.com> wrote:
>
> > On Jun 1, 11:59 pm, mg <mgkel...@yahoo.com> wrote:
> >> On Jun 1, 6:29 pm, OccupySpring <soprano.olivi...@gmail.com> wrote:
>
> >> > On Jun 1, 8:10 pm, mg <mgkel...@yahoo.com> wrote:
>
> >> > > The Republicans created the big deficit and huge debt on purpose with
> >> > > their starve-the-beast strategy. The basic idea is to "bankrupt" the
> >> > > government and use the deficits as an excuse to cut programs like
> >> > > Social Security, Medicare, FEMA, OSHA, and the EPA, etc. I did a post
> >> > > on the subject in April 2009. Wikipedia also has an article on the
> >> > > Republican starve-the-beast
> >> > > strategy:http://tinyurl.com/NewTestamentRightieshttp://en.wikipedia.org/wiki/S...
>
> >> > all the programs that help people in need and the programs set up to
> >> > protect us from corporate greed. How scary,
>
> >> > > There are some interesting, background articles on the starve-the-
> >> > > beast strategy at the following
> >> > > websites:http://www.nytimes.com/1996/09/29/us/dole-in-choosing-kemp-buried-a-b...
>
> >> > > They didn't, however, cause the economic collapse on purpose. That
> >> > > all
> >> > > started with Bush's ownership society and was caused by greed and
> >> > > incompetence.
>
> >> > Is itb reversible?  Or are they just cut food stamps to 47 million
> >> > Americans and let then eat cake?
>
> >> My guess is that it might take 30 or 40 years to pay off the debt, and
> >> that wouldn't actually be paying it off. Instead, we will probably
> >> just pay it down using inflation, like we did with the WWII debt. Of
> >> course, after WWII we had a high growth rate because Europe and Japan
> >> was rebuilding and we didn't have much competition. The U.S. isn't
> >> really growing anymore. Also, the working class doesn't really have a
> >> voice in Washington anymore due to the demise of the unions. So it's
> >> difficult to imagine how the situation could be reversed.
>
> > Sounds like doomsday for ALL  Americans
>
> >> > > On Jun 1, 7:46 am, mg <mgkel...@yahoo.com> wrote:
>
> >> > > > Europe is slowing down and is in big trouble. India is slowing
> >> > > > down.
> >> > > > China is slowing down and there is nothing but ugly numbers out
> >> > > > this
> >> > > > morning on the U.S. economy. Stock futures before the open are way
> >> > > > down. Commodities have been getting slaughtered for a long time
> >> > > > now.
> >> > > > Crude oil is down to about $83/bbl (but gas prices aren't down much
> >> > > > of
> >> > > > course). The yield on the 10-yr bond now under 1.5%. Germany's DAX
> >> > > > is
> >> > > > down over 3% this morning and the Germans have the best economy in
> >> > > > Europe. The DOW is down about 175 right
> >> > > > now.http://www.cnbc.com/id/47643788
>
> >> > > > When you think about it, the terrorists didn't really do much
> >> > > > damage
> >> > > > to the U.S. economy on 9/11, but the mess that Bush left us in is
> >> > > > probably about the worst in U.S. history. Will we ever completely
> >> > > > recover from this? I doubt it.
>
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