Tue Nov 20, 2012, 06:56 PM
ashling (24,500 posts)
No, The United States Will Not Go Into A Debt Crisis, Not Now, Not Ever
After all itís already common knowledge among economists, Fed officials, and an increasing number of sophisticated investors.
Maybe so, but itís still not common knowledge among politicians and among the general public. A lot of people still think that the US is under some risk of one day becoming like Greece, and itís distorting our public debate.
Itís especially distorting it on the Right, where hysteria about deficits, and debt, and becoming like Greece has reached a fever pitch. Paul Ryan, especially, has framed his entire message on entitlement-cutting on the flawed premise that the US needs to cut its entitlement or it will suffer a debt crisis. This message, in turn, has infected broad swathes of the conservative movement (including very smart people in it), a movement that I consider myself a member of and want to see in strong intellectual health. But very few liberalsĖcertainly no Democratic elected officials that Iím aware of, certainly not the President and the Vice PresidentĖare disputing the premise that the US is in any danger of a debt crisis.
In future posts, I will try to look at what the conservative movement can do to move past the idea of the debt crisis, and what it means.
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Replies to this discussion thread
No, The United States Will Not Go Into A Debt Crisis, Not Now, Not Ever (Original post)
Response to ashling (Original post)
Tue Nov 20, 2012, 07:08 PM
johnd83 (593 posts)
2. Would you rather leave the future generations a habital planet with resources or "debt"
which is basically imaginary. We keep destroying the planet for "debt" which is just our own construct that doesn't even make much sense considering the wealth of the country and that it is caused by the "trade deficit" which is also completely artificial. Our children will just laugh and wipe out the imaginary number. They can't wipe out environmental damage and resource depletion.