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Politics : President Barack Obama
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To: ChinuSFO who wrote (115023)6/10/2012 9:32:02 AM
From: RetiredNow  Read Replies (1) of 149317
 
See my response to Ted. If we move debt from the left hand to the right hand and the left hand looks like it has less debt, but the right hand now has more debt, does the whole body have less debt? I think not.

Chinu,
we aren't deleveraging at all. We're just moving private debt over to the public. But how do you think public debt is paid off? Very simply with higher taxes or through inflation. Either way, we will pay that debt, unless the US wants to default, which I seriously doubt it will do.
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