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Politics : PRESIDENT GEORGE W. BUSH
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To: JBTFD who wrote (342828)1/14/2003 11:43:37 AM
From: CYBERKEN  Read Replies (1) of 769667
 
In the entire history of the US there has been constant talk of the "danger of too much debt". But there has NEVER been an instance of economic harm caused by debt levels. Never.

There is an extreme, at least in theory, where it MIGHT happen. But that obviously was not at the end of WWII, when debt was 110% of GDP, and it CERTAINLY is not today, when it's about 30%.

The debt fantasy has always been nothing more than a propaganda tool-used at various times by both parties-to attempt gain power by scaring the hell out of an ignorant public. It has also consistently failed to achieve even that tawdry propaganda purpose-as seen today, when hardly a soul in the US cares a wit about it.

But the Chicken Littles of the debt fantasy cackle on...
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