So Americans are 17 trillion dollars in debt, is that a bad thing? Well almost all economists agree on this, if your economy is moved forward by deficit finance spending (weve already AGREED this is what America does, good or bad) then the debt you rack up is bad ONLY if it is spent in two ways. One, if that debt is spent on wars. Why?? Wars are destructive, they take up a higher percentage of government spending, you have to replace the bombs youve dropped, and then you have to rebuild what you blew up. Which leads to the next bad thing. Rackign up this debt is bad, IF IT IS SPENT ON INFRASTRUCTURE IMPROVEMENTS IN FOREIGN COUNTRIES. Why would America want to build up someone elses infrastructure, on OUR DIME, only to compete on a global scale? Lets look at the last 10 years. We have two wars (bad for us, we borrowed for that) and we blew up and rebuilt two nations infrastructure, only to blow it up again, rebuild it, blow it up again, rebuild it, rince and repeat ten more times. Who did all that? The Bush adminstration, with some help from the Obama adminstration. But Obama wouldnt have to bomb those countries if Bush didnt go to war in the first place. OK heres where deficit finance spending is good. When it is used to build up the infrastructure in our country. Do you know what infrastructure inprovement that was made in the last 60 years that has assured America the greatest economy on the planet? THE INTERNET? WRONG! It was the American highway system of interstates. Do yonu know that for every 1 dollar spent on the highway system, another 7 dollars are returned to the economy. Good investment. Do you know what the other thing is almost all economists agree we should spend on our borrowed money? Tax breaks? WRONG! Education. For every dollar borrowed and put into education, 6 dollars come back into the economy. These two things have been researched and studied extensively AND, are both the best returns on borrowed money WE HAVE EVER DOCUMENTED. So its no suprise the the GOP will not borrow any more to get an infratstructure bill passed or more money for education, know why? THEN OBAMA WOULD BENEFIT FROM ECONOMIC GROWTH THAT HE COULD LAY CLAIM TO. The GOP is so determined to make Obama a two term president, that they will make the economy suffer, make the American people suffer, just so they can make Barack Hussein Obama look bad. But they had NO PROBLEM borrowing 5 trillion dollars and spending it on Iraq and Afghanistan. By the way, do you know who go the most govt money and contracts during the war (this was before Blackwater got to hire its 100,00m an army of thugs), thats right, HALIBURTON! Who was their former CEO? Dick Cheney!! I will leave you with this last tidbit, until I continue. Do you know what Dick Cheney said when his adminstration was racking up qa huge deficit? Deficits dont matter -Dick Cheney.........and you know what, HE WAS RIGHT depending on where that money gets spent....on Haliburton, or for the rest of America to benefit from?
Posted on: Tue, 15 Oct 2013 18:34:08 +0000
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