Quote:
Originally posted by tabs
You people almost had it....but again you miss the forest for the trees of partisan politics....go back to the charts posted and take a look at WHEN all the debt of the USA began to pile up....1975. The USA is borrowing more and more to stay afloat....the tax laws promote SPENDING instead of saving and have done so since Kennedys Administration...funny but it took only 10 years for the USA to go thorugh it's savings and for the debt to start piling up...
Another point that is missed how much of that debt is on RE specfically Home Mortgages?
I think America is trying to live a life style we can't afford due to increased competition in the world. That the engine of economic activity is now based on the US consumer SPENDING and going into debt...This is a vicious circle....We keep spending and borrowing and the people we owe can't cut us off because they would be outa work, becausse they make the stuff we buy...
One thing can be certain though the party will come to an end sooner or later...
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I have to agree with you there. I also feel that what really needs to be done is a revamping of spending in government. I think too much money is wasted. If our government was held responsible for it's spending, we would have all the services covered, taxes would be dropped, and the deficit would greatly decrease.
That's why I liked Perot.