It doesn't have to happen in the long or short term. If the debt ceiling is raised in the short term and the debt is brought down to reasonable levels over the next 10 to 20 years then there is no problem.
Optimism's is a fickle finch Taq.
The debt ceiling’s been raised over 72 times and strangely the effect’s been increased interest levels and thus debts and deficits, rather than decreasing debt to any semblance of reason. The debt hasn’t decreased in over 50 years; however, when it comes to debt, the number itself doesn't actually matter anyway and it should be easily demonstrable.
Of course the above view doesn’t address the daunting challenge imposed by unemployment and jobs numbers, etc., etc..
Additionally, people should bypass the smoke and mirrors and give credit where it is do rather than to every college kid with a red cup. For example, when noting a declination in the jobless rate, also inform us of the shrinking workforce correlating so well. But I digress ..
Providing Tom’s total debts were equal to $1 million, he may be considered by many as financially ruined.
However, providing the United States' total debts were equal to $1 million, it would be in the prime of its existence.
The size of the debt - $1 million, is the same in both cases, but what it means is completely different because that number itself means very little. What matters is how the number relates to the economy in question.
For the national debt, what matters is how the debt compares as a percentage of the gross domestic product. The reason the debt is a problem is not simply because it’s encroaching $14.3 trillion dollars, but because that happens to be about 100 percent of the nation’s GDP. And granted - while it’s not unheard of, its perdy bad and especially so ..
Combined with a bygone era of industry, a collapsing consumer economy and all sorts of other delicate bubbles to burst.
In the end, a nation can only diminish tax revenues (due to structural unemployment or otherwise) for so long while seemingly fostering a kleptocracy by increasing the debt on a steadily rising tide of interest, before the flame of optimism eventually becomes extinguished.
If I win the lotto I'll pay the debt, but if's only get us so far and grampa always said ya can't spends 'dem thank you's.
One Love
Edited by Bailey, : sp.
I'm not here to mock or condemn what you believe, tho my intentions are no less than to tickle your thinker.
If those in first century CE had known what these words mean ...
'I want and desire mercy, not sacrifice'They surely would not have murdered the innocent; why trust what I say, when you can learn for yourself?
Think for yourself.
Mercy Trumps Judgement,
Love Weary