Some people believe that the national debt is not necessarily a bad
thing to a nation -- the debt can be rolled over forever.
But the real damage is often not the debt itself, but the side
effect (the collateral demage). In 9/18/2006's Newsweek, Allan Sloan
wrote an article titled "D.C.'s Deficit Math Doesn't Add Up." He stated
that the official US deficit for 2006 is $260 billion, but the actual
debt is $558 billion. Where is the $298 billion coming from? Uncle Sam
"borrowed" $177 billion from Social Security, and $121 billion from
"other government accounts" such as federal-employee pension funds.
In other words, consistent budget deficit year in and year out
changes the government's behavior and forces them to do things in
ordinary sense will be called "stealing." Uncle Sam borrows money from
funds such as social security without any plan to pay it back. Then
they claim that the social security will go bankrupt in 30 years. How
convenient!
If the government did not get into such heavy debt, it wouldn't have
to do things this way. There is no money to repair the infrastructures,
no money for the retirement, in the mean time, they claim that the debt
can be rolled over forever. One thing I know for sure, without these
debts, they won't have to steal from the people's retirement funds.
National debt does no harm to a nation? Think again.
Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money.... The Iraq war will cost us half the IOUs that the government owes Social Security. ... (soc.retirement)
Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money.... The Iraq war will cost us half the IOUs that the government owes Social Security. ... (soc.retirement)
Re: Excellent News - Bush Approval Slumps ... claimed to be provided through money gained by taxes and other money-gathering ventures undertaken by the federal government. ... Increasing the amount of services provided for your tax dollars is the only reasonable way to pay off an internal national debt.... That's bad because every economy that has a huge spread between rich and poor with little or no middle class is either dysfunctional now, ... (comp.sys.mac.advocacy)
Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money.... The Iraq war will cost us half the IOUs that the government owes Social Security. ... (soc.retirement)
Re: Excellent News - Bush Approval Slumps ... >> down debt, both internal and external, through higher taxation. ... >money-gathering ventures undertaken by the federal government.... >only reasonable way to pay off an internal national debt....>"money owed to the people" by taking more money from the people. ... (comp.sys.mac.advocacy)
