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Why is the national (US) debt so important? And pray tell, why keep bringing the children into it? I keep hearing about how The Children will have to pay for it.
Yes. Yes they will. Maybe.
In the mid-80's Reagan was all but crucified for the budget deficits. There were reports left and right that America was done for. The budget shortfall was simply too much. The great-great-great grandchildren would have to pay for the tax cuts. We couldn't afford to pay for the military upgrades to stave off the Soviets. We must, must, must capitulate to the Soviets to keep the peace and balance the budget.
What did Reagan do? He bullied Congress into a tax cut, increased Defense spending and placed faith in the free market.
In case anyone hasn't heard, it worked out pretty well. Oh, not initially. There were a a number of years that we ran in the red, but we ran over the Reds. It was a pretty big victory when the Wall fell. And all you that grew up knowing that wall know that what the US did was a big part of that. We outspent them.
Fast forward about 15 years from the "crisis", and we were looking at a surplus. Record surplus!
We're facing the same thing now. Tax cut to spur the economy (still waiting for cites we're declining), a war to defeat, in essence, the essence that wishes to destroy us, people saying that our grandchildren will have to pay for this war long after we're dead. It's been said before. Often. It doesn't count anymore than in years past.
We (The US) have an insane amount of money that you know about. Add to that the billions you don't hear about.
How much money was donated just for Katrina relief? Not the billions from Washington. The money donated from private individuals so far? That's all private, non-taxed cash, and it's a a mere slice of cash donated in times that there aren't telethons.
We have money. We will have money. We can afford to float some loans. We went from life-ending deficits (I saw the Mondale commercials, too) to a surplus in less than 2 decades.
A "shortfall" isn't something to worry about.
Debate the fallacies in this. I'm willing to listen.
Yes. Yes they will. Maybe.
In the mid-80's Reagan was all but crucified for the budget deficits. There were reports left and right that America was done for. The budget shortfall was simply too much. The great-great-great grandchildren would have to pay for the tax cuts. We couldn't afford to pay for the military upgrades to stave off the Soviets. We must, must, must capitulate to the Soviets to keep the peace and balance the budget.
What did Reagan do? He bullied Congress into a tax cut, increased Defense spending and placed faith in the free market.
In case anyone hasn't heard, it worked out pretty well. Oh, not initially. There were a a number of years that we ran in the red, but we ran over the Reds. It was a pretty big victory when the Wall fell. And all you that grew up knowing that wall know that what the US did was a big part of that. We outspent them.
Fast forward about 15 years from the "crisis", and we were looking at a surplus. Record surplus!
We're facing the same thing now. Tax cut to spur the economy (still waiting for cites we're declining), a war to defeat, in essence, the essence that wishes to destroy us, people saying that our grandchildren will have to pay for this war long after we're dead. It's been said before. Often. It doesn't count anymore than in years past.
We (The US) have an insane amount of money that you know about. Add to that the billions you don't hear about.
How much money was donated just for Katrina relief? Not the billions from Washington. The money donated from private individuals so far? That's all private, non-taxed cash, and it's a a mere slice of cash donated in times that there aren't telethons.
We have money. We will have money. We can afford to float some loans. We went from life-ending deficits (I saw the Mondale commercials, too) to a surplus in less than 2 decades.
A "shortfall" isn't something to worry about.
Debate the fallacies in this. I'm willing to listen.
