Quote:
Originally Posted by slapass
But the real answer is growth. As the economy grows the debt is a smaller percentage of the whole so becomes less important. Your house mortgage seems huge when you take it out but as your income grows it becomes easier to manage.
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That's all fine except for the pesky fact that growth in the GDP is actually being out-paced by the growth of the government debt..... By 2038 the debt will actually become larger than the GDP itself.
p.s. Don't think that I'm advocating lower government spending.... because I know that this is a pipe dream. NO government willingly gives up ANY of it's power over people, money, etc.... They only grow and grow. Reduction in government only occurs when the whole ball of wax comes tumbling down, often in a very messy fashion.
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