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Debt

Posted: Sep 24, 2012

National debt: $16,054,053,797,341 and climbing. Obama says this debt is not anything to worry about "in the short term."

If the economy gets better, the interest rates will rise.

Can your children afford the re-payment?

;

God. Short term - that's all he cares about - - mostly till November.

[ In Reply To ..]
nm

Wow! - vf

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Those 2 unpaid for wars really set us back! Thank you President Obama for continuing to get us out of that ditch Bush drove us in! You definitely have my vote.

Better thank Congress, too...they are the ones who voted for it - backwards typist

[ In Reply To ..]
We cannot go to war unless Congress votes for it, or didn't you know that?

Continuing to get us out? Are you a real poster? - Texan (sm)

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Maybe we're on Candid Camera? OMG

Tunnel Vision.... - SK1

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To blame the debt solely on war is narrow-sighted and blatant mischaracterization. But surely you knew that?

As long as the Fed keeps printing money, inflation will set in. - backwards typist

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It happened during the '70s. Our dollars won't be worth crap.

For those of you who think everything is hunky dory, wake up.

If you think prices are high now, just wait. Before inflation in the '70s, hamburger was 3 pounds for $1.

You won't see it coming, either. Prices will rise ever so slowly, and one day you'll wake up and wonder why. I see it happening now.

I was reading an article from 2001 by a staff writer of our local paper whose headline was:

GASOLINE COST KEEPS ON RISING
Prices $.15 higher than year ago, with $20 fill-up now common
It showed a local Exxon sign where gas was $1.63 a gallon. Now that was high compared to $1.38 and a couple years before that, it was $.99!

Can happen, but we've actually also been in grave danger - of deflation and still may be. SM

[ In Reply To ..]
Many economists are very worried that the global economy may still crash.

I lived through the stagflation of the 1970s, and deflation might just make it look good by comparison. Especially if the entire planet's in the biggest depression ever, with all the economies drowning. Read up on deflation.

BTW, stagflation is a combo of inflation and stagnation, where prices went up, up, up and unemployment did too, while the economy stagnated. Many economists didn't think this could happen until it did. It was bad.

I did too. All at the hand of LBJ who - backwards typist

[ In Reply To ..]
couldn't sustain "The Great Society" and the Viet Nam War without the huge budget deficits.

Then Nixon tried the price controls. That really helped...yeah, right. Just made things worse.

Wish Congress and the President would keep their fingers off those "great programs" that are going to "better our lives." They never seem to work the way they're supposed to work without funneling money into the deep hole.

No one president can do that. It takes years of mass - behaviors to crash a society. BTW,

[ In Reply To ..]
do you realize that, just for instance, 7 years after the end of each war we have a recession? Whichever administration is in office gets the blame. And those are small potatoes compared to what we went through in the 70s.

Also BTW, if we haven't been having that pattern lately, it's because for the past 20 years we've almost always been at war, with no gaps in between. Gotta feed our war industry, after all. It's very big and very, very greedy.

Agreed..... - SK1

[ In Reply To ..]
No one president can do it, but one must look at the trend of the (any) current administration to see whether they're improving or contributing to the current trend,since they're the only one in power at the moment.

Hey, we agree on that. :) - NM

[ In Reply To ..]
(But I do think conservatives, generally speaking, are inherently backewards in a time of great change--when the challenge is to meet and harness that change.)

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