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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (297581)	3/22/2009 7:09:44 AM
From: carranza2	1 Recommendation Read Replies (2) of 793950

And we never have to pay the piper. The piper always gets paid in some form or other. There are no free lunches in macroeconomics. Devaluing the dollar via inflation caused by assuming huge amounts of debt will put the dollar's status as the reserve currency in jeopardy. It will also put our future in jeopardy because the debt has to be paid. The figures I have seen suggest that as much as 60-70% of government income in a few short years will be used to pay debt and interest. How much will that leave to repair our crummy infrastructure, pay for defense, etc? Individually and nationally, we have gorged on debt. The bailouts have increased the public side of the debt by an enormous amount. Inflating to reduce debt is absolutely not the answer for many, many reasons. Our government has been hijacked by financiers who should have been allowed to fail. Rather, we are bailing out entities like AIG so that others can receive 100% on the dollar on AIG's debt [there are lots of examples but this is the most current] paid by you and me. No negotiation of the debt, no legal challenge to its validity, simply a transfer from your pocket to someone else's, then to the ultimate recipient. It started with W and continues with O. Why? Because finance controls Washington and finance does not give a rat's ass about the public good. We are on the way to becoming a banana republic, sad but true.

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