Quote:
Originally Posted by sperbonzo
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.
.
. |
That is why the EU is all over the govts in trouble to reduce the speed at which their debt is growing. If the country grows at 3% and the debt grows at 3% and it is less then 100% of GDP, you will eventually grow your way out and no one generation has to take the hit. The US has done it before and so has most of Europe.
It is math and everyone who is paying attention knows this. That is why they are doing what they are doing. If they can reduce unemployment then the drag on economy goes away and growth picks up etc.
Did we go to far? Maybe but the solution is a known issue. So that begs the question as to why the Republican party who knows this keeps bringing the economy to a halt every 18 months. Hurts our growth. They want to keep blowing up third world countries but they want the Democrats to look bad for it.