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| Re: Boehner walks away, gives up on debt negotiations with Obama (814623) | |||
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by SelkirkTMO on Sat Jul 23 01:14:29 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:40:29 2011. Many were willing to finance those notes to get our "global engine" going again on ten year payoffs. Yes the debt is an issue, but we've been rolling over and retiring previous debt that carried some pretty hefty interest rates for much lower rates. Of course, our "loyal opposition" didn't want to mention any of that. Economists such as Krugman and others have repeatedly tried to tell us that the actual cost of the spending now it much lower than it would have been in better times.Perhaps the BIGGEST problem to our future though is the unwillingness of Americans to SAVE, to BUY bonds and owe only ourselves. There was no better time in our history for us to do a proper stimulus, but the banks don't WANT us to. They're happy to starve us now and make us pay double digits later. And we WILL. Same game they played on mortgages is the next bubble - government debt. And guess who gets screwed? Again. |
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