Quote:
Originally posted by cmccuist
I've always wondered how bad it has to get - how high the national debt has to get - before any politician/president starts to do something about it.
Doesn't there come a point when you have to start paying back the debt? Like when the huge glut of baby boomers starts hitting social security.
|
Ah - but you assume it can be paid back - it can't. Every single dollar printed is "borrowed" - every dollar you have interest is owed on it. Its only payable with gold - and all that Gold suddenly just going to sit there would freak out the world market I think.
Its a silly system to start with - with all the nations currency being debt.