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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (218231)	2/8/2005 9:55:38 PM
From: TimF	Read Replies (1) \| Respond to of 1572325

What you don't seem to get (or choose to ignore, scary) is that creditors, the Europeans, Japanese, Chinese, Koreans are real people. They asses risk by measuring revenue and debt, and time risk. Our absolute budget deficit is already at record levels; our current account deficit is at record absolute and relative levels. Our private debt is at record levels. What you don't seem to realize is that these "real people" also are well aware of the fiscal implications of social security and Medicare. They are IMO sophisticated enough to take it in to account. If it already is taken in to account than changing the existing obligations to debt won't change their opinion much. However I do have to admit the small possibility that the US is currently putting one over one them, and that they don't realize the implications of US entitlement programs (even with all the talk about them lately) and that converting these obligations to debt would cause them to recognize them and so demand a higher price for their money. Tim