You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #32: Your post reminds me of Jeff Foxworthy's reply to the repo man - "Oh, you'll take a check!?" [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
OmahaBlueDog Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-23-11 09:16 PM
Response to Reply #29
32. Your post reminds me of Jeff Foxworthy's reply to the repo man - "Oh, you'll take a check!?"
If the Federal government does not need to borrow, then why do we do it? Hell, why don't we simply authorize the Treasury print up 14,000 One-Billion dollar bills and pay everyone off? Problem solved.

The true constraint to Federal spending is gross domestic product. We do not have an infinite capacity to either spend or produce money. Imagine a homeowner with a valuable property and a home equity line of credit. They can keep borrowing, but at some point, no matter how vaulable their property is, they will outstrip the ability of their income to support the payments. Have we reached that point? Maybe or maybe not. The bottom line is that if we don't need to borrow, we shouldn't do it, and we should especially not borrow from foreign powers. If the fact is we do need to borrow, it should be a temporary state of affairs, and we should attempt to pay back the debt in the agreed-upon timeframe.
Printer Friendly | Permalink |  | Top
 

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC