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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (775001)	3/16/2014 8:34:20 AM
From: RetiredNow	Read Replies (1) of 1579913

i-node, I don't care who's to blame. Whether they were Cheney's words or not, the fact is that the actions of the GOP and Dems both prove that they BELIEVE "deficits don't matter". Few Americans understand the real hard truth, or at least they don't want to believe it. The fantasy is easier to believe and it is more comforting. The fact is that every dollar of deficits represents a dollar of demand pulled into the present from the future. That demand borrowed from the future, reduces growth in the future. Well, we've been doing it for so long, that growth has been reduced today. We have put a giant burden on our descendants and it is not only immoral, it is plain economically stupid. Ultimately, there is no difference between what we have done and what the teenager who spend $10K on a credit card, which he has no hope to pay off. The misery of that situation is here now and we're having to deal with it. Low growth. Lingering, interminable malaise. Labor force participation sinking to new lows. Increasing taxes. Lower standards of living. Income stagnation. The consequences are here.

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