[quote]rainjack wrote:
And higher taxes will fix all this?[/quote]
And there you go again. Where did I ask for “higher taxes”?
[quote]rainjack wrote:
You have been preaching the same sermon since you arrived. [/quote]
I’m pretty sure you can understand why, considering what I do for a living and all…
[quote]rainjack wrote:
We have had a public debt since we went to France for a loan to by bullets during the revolutionary war.
Some would say that a national debt is more secure for the country than being debt free.[/quote]
I’m not disagreeing with any of the above. But, as any loan officer will tell you, it’s all about debt RATIOS. To be more precise, the ratio between debt and income. I have no problem with it being above 0 – I do, however, a problem with it being at the level it is now - US$8.4 trillion dollars of debt, which is about $28,150 dollars per US resident.
Considering that the US Government income is only about US$2.1 trillion per year that means that our debt to yearly income ratio is actually 400%, which is much higher than any other developed country (except Japan).
Furthermore, the National Debt has continued to increase an average of $1.71 billion per day since September 30, 2005.
[quote]rainjack wrote:
I agree we need to address the debt, but a lower deficit is a pretty good starting point. And it has been achieved through lower taxes - which flies in the face of your theories.[/quote]
Even if I believe, for one moment, that the reduction in deficit was “achieved through lower taxes” – which I don’t – again, the reduction was fairly minimal compared to what we need to achieve, and it will not last – considering the latest economic data, it’s pretty obvious that it will barely make a dent long term, since, again the debt is still increasing at a rate of $1.71 billion per day. The ship is still sinking…
It’s like saying that smoking a joint before an exam is a great idea. Yeah, you feel great, and the exam might feel like it went much better than previous exams, but when you later get the grade you realize that you were, well, smoking pot, and not only your grade still sucks, your killed a few precious brain cells in the process.