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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (508766)8/29/2009 1:20:12 AM
From: SilentZ  Read Replies (2) of 1577737
 
>- The federal debt along with the general debt waterlogging the system doesn't need to be reduced.

I said it doesn't need to be reduced quickly. If it's done over time, then it shouldn't produce runaway inflation.

>- Obama can simply use diplomacy to convince foreign nations to continuously buy up our debt.

No, not simply. But as long as we're paying the "minimum payments" and are getting along with our creditors, then yes, that's probably the case.

>The best of all worlds, of course, is if the GDP magically ?returns to 4% annual growth and stays that way for years to come. Then we can "grow" our way out of the debt situation and convince other nations that the U.S. economy is still strong enough to back up the trillions of dollars of bonds that they own.

Ir doesn't have to happen over a few years. A country isn't a person. As long as the debt is fairly under control, we might be able to sustain the debt for centuries. I'm not saying we should, but it might be manageable.

>Of course, that would require Obama to be a miracle worker, especially as the Baby Boomers retire and demands for entitlements drown out the needs of big business to become more productive domestically.

First of all, Obama doesn't have to be a miracle worker if the debt doesn't need to be reduced quickly. Second, what do "demands for entitlements" have anything to do with "the needs of big business to become more productive domestically?" Isn't that a non sequitur?

-Z
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