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Politics : Formerly About Advanced Micro Devices
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To: Elroy who wrote (316234)12/21/2006 3:34:20 PM
From: tejek  Read Replies (2) of 1573908
 
Yes, exactly. You have two choices to eliminate the deficit: either cut spending or raise taxes.

Or keep the deficit at a serviceable level, and not eliminate it. Debt is not bad. Debt on which you can't pay the interest is bad (it's too much).

I think you are working too hard to make your point. Debt is always a negative. Its just not as bad sometimes as it is other times. For an example, manageable debt is much better than debt that can't be managed but its never good.

Didn't you take out a mortgage to buy your first house?

He probably did.....but its a very costly way to own a house. Ever see an amortization schedule for owning a home. Most home mortgages are 30 years. The first 15 years of payments are just for the interest. That's a lot of interest. You don't start paying off the principal until the 16th year. Its not a cheap way to buy a house but its better than not having one, or saving all your life to buy one near the end of that life like they do in some parts of Europe.
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