Quote:
Originally Posted by roachboy
what makes you think the debt is a problem? there's an entire school of economics that's got a far better actual track record that the monetarist nonsense that you subscribe to that doesn't see debt as a particular issue. so there's no pressing need to "address" it. so there's no rationale for cuts, particularly not in a situation of transition/crisis.
it's the same hoodoo that got us here in the first place. it didn't work, it won't work, it can't work.
so why should anyone listen to what conservatives have to say about this topic?
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I'm sure that in some fantasy land somewhere, debt really doesn't matter and those economists might have a point.
However, in reality, recent events in Greece, where out of control debt projected at 120% of GDP in 2010 resulted in fears of default by the Greek government another bailout by the EU.
Regardless what these economists think, one of the major issues in this election was deficit reduction, i.e. debt reduction. The US government isn't going to be able to accomplish much at all if interest on the federal debt reaches the level of tax revenue as has been projected a few times.
That issue resulted in a bunch of Democrats getting sent home. If the Democrats want to ignore the issue, then more will be going home in 2012 including Obama.
If you think the public is going to stand for reducing military spending only to increase entitlements, you're dreaming.