- Feb 12, 2007
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The OP is a load of rubbish.
1. The U.S. can never be forced to default on debt denominated in dollars/
The government collects plenty of money to service the interest on the debt.
2.) Deficit spending alone cannot cause inflation, crowding out or capture of resources.
Deflection. The issue with deficit spending and increasing debt is that it is a tax on future generations. It is highly immoral to create such burdens.
As Thomas Jefferson said:
"We believe--or we act as if we believed--that although an individual father cannot alienate the labor of his son, the aggregate body of fathers may alienate the labor of all their sons, of their posterity, in the aggregate, and oblige them to pay for all the enterprises, just or unjust, profitable or ruinous, into which our vices, our passions or our personal interests may lead us. But I trust that this proposition needs only to be looked at by an American to be seen in its true point of view, and that we shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves; and consequently within what may be deemed the period of a generation, or the life of the majority." --Thomas Jefferson to John Wayles Eppes, 1813. ME 13:357
"Ought not then the right of each successive generation to be guaranteed against the dissipations and corruptions of those preceding, by a fundamental provision in our Constitution? And if that has not been made, does it exist the less, there being between generation and generation as between nation and nation no other law than that of nature? And is it the less dishonest to do what is wrong because not expressly prohibited by written law? Let us hope our moral principles are not yet in that stage of degeneracy, and that in instituting the system of finance to be hereafter pursued we shall adopt the only safe, the only lawful and honest one, of borrowing on such short terms of reimbursement of interest and principal as will fall within the accomplishment of our own lives." --Thomas Jefferson to John Wayles Eppes, 1813. ME 13:360
3.) The economic expansion of the 1990s caused the budget surplus and not the other way around
If you believe that, then you should wish to see the economy free to grow, which requires less of the GDP going to government programs and more to investment in private enterprises.
4.) Unbalanced budgets serve as economic stabilizers
Utterly craptastic. Unbalanced budgets are like unhinged minds (hence the appeal ot you).
Here's a lesson regarding what excessive debt does to any organization:
The End of a 1,400-Year-Old Business - Businessweek
5.) The government’s deficit is our surplus
War is Peace
Freedom is Slavery
Ignorance is Strength
1. The U.S. can never be forced to default on debt denominated in dollars/
The government collects plenty of money to service the interest on the debt.
2.) Deficit spending alone cannot cause inflation, crowding out or capture of resources.
Deflection. The issue with deficit spending and increasing debt is that it is a tax on future generations. It is highly immoral to create such burdens.
As Thomas Jefferson said:
"We believe--or we act as if we believed--that although an individual father cannot alienate the labor of his son, the aggregate body of fathers may alienate the labor of all their sons, of their posterity, in the aggregate, and oblige them to pay for all the enterprises, just or unjust, profitable or ruinous, into which our vices, our passions or our personal interests may lead us. But I trust that this proposition needs only to be looked at by an American to be seen in its true point of view, and that we shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves; and consequently within what may be deemed the period of a generation, or the life of the majority." --Thomas Jefferson to John Wayles Eppes, 1813. ME 13:357
"Ought not then the right of each successive generation to be guaranteed against the dissipations and corruptions of those preceding, by a fundamental provision in our Constitution? And if that has not been made, does it exist the less, there being between generation and generation as between nation and nation no other law than that of nature? And is it the less dishonest to do what is wrong because not expressly prohibited by written law? Let us hope our moral principles are not yet in that stage of degeneracy, and that in instituting the system of finance to be hereafter pursued we shall adopt the only safe, the only lawful and honest one, of borrowing on such short terms of reimbursement of interest and principal as will fall within the accomplishment of our own lives." --Thomas Jefferson to John Wayles Eppes, 1813. ME 13:360
3.) The economic expansion of the 1990s caused the budget surplus and not the other way around
If you believe that, then you should wish to see the economy free to grow, which requires less of the GDP going to government programs and more to investment in private enterprises.
4.) Unbalanced budgets serve as economic stabilizers
Utterly craptastic. Unbalanced budgets are like unhinged minds (hence the appeal ot you).
Here's a lesson regarding what excessive debt does to any organization:
The End of a 1,400-Year-Old Business - Businessweek
5.) The government’s deficit is our surplus
War is Peace
Freedom is Slavery
Ignorance is Strength