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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (183711)	3/17/2006 10:47:21 PM
From: geode00	Read Replies (1) \| Respond to of 281500

Apparently the party of 'fiscal responsibility' is still saying that deficits don't matter. They can never explain why they don't matter except to say that THEY won't be paying for them. Everyone else's kids will. Under these conditions, they're right. Deficits don't matter to them. With this kind of thinking, it's easy to see how a $12 trillion debt, record deficits and record trade deficits as far as the eye can see are in our very near future.

To: neolib who wrote (183711)	3/18/2006 12:04:13 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 281500

<Normalise by workers, not per capita. That gets you to more like $6K/year per full-time employed. And guess what, they don't have that much disposable income left.> You should normalize the GDP per capita to workers too in that case. Which will put you back where you started. If they don't have that much disposable income left, then they will not be able to pay their debts, so they will forfeit their assets. That's what happens to debtors who get in over their heads. But they can easily pay that much. They can sell their houses and use the money they get to pay the loans. I'll buy 100 of their houses and they can rent them from me. Hey presto, 100 people off the hook just like that. I'm sure others would also be happy to buy lots of really cheap houses. And other assets. Mqurice