lost in DC,Seventy percent of our debt has come in the passed four
Mark B and Alfred,nowadays it's not the Chinese, it's the
federal reserve. They "buy" the US debt, essentially printing money.Mark, you bring up the bush administration. Funny. BO increased the
debt more in 3-1/2 years than bush did in 8. Do you really think the current
level of deficit spending is wise? We need to be cut spending.
This "crisis" is man-made since the only REAL crisis would be a refusal
by the rest of the world to lend to the US. And the only thing that would make
them do THAT is to see us stiff the creditors we have now. The money was
appropriated and used as planned, exactly how the system is supposed to work and
DID work SEVEN times during the GWB administration without any big howl. So, do
you really want to take tha chance to show the world we may not be such a safe
bet after all? It seems unwise. Instead, raise the limit and see if you can
improve on $2 trillion of spending cuts already in place.
So, the government needs to borrow more money... where they gonna go to get it?
China? I think china has lent the US enough already. What other country has
money they will lend? Saudi Arabia? Do we want to be owing to them... a
country that would just as soon see our country fail? Who else is there?
Japan? India. I doubt it. What about the American people? We are, in many
cases, just making it now.I suggest to the Congress and the
president that they start reducing expenditures. A couple of percentage points
across the board would be a good start.They talk about a looming
'fiscal cliff'... it is not looming. We are in it as we speak.
How much will be left after the interest payments?