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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (85601)	8/28/2007 1:13:49 AM
From: benwood	Respond to of 110194

That would be OK if "we" didn't need to pay it back, we being the US Taxpayer. There's no difference (to me) in paying an increase in income tax in order to pay off a foreign debt versus paying an increase in income tax to repay the SS misTRUST fund. The more likely reality is closer to what you say, that the debt shouldn't count because, in effect, we'll be paying ourselves back. Not ourselves, of course, but retirees. Since income taxes probably will never be raised to pay off the debt, that does, in effect, make us like New Zealand, perhaps, at least on balance. Underneath it all, of course, we had to screw retirees to get there as we default on that debt.