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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (59990)	4/18/2008 11:47:24 PM
From: Katelew	Read Replies (1) \| Respond to of 542249

We can let it sit there, continue servicing it, and wait for inflation to make the amount negligible. That only works if you have rising wages to bring more tax revenues in. Wages have been flat for years and are now actually falling a little. Plus the debt is growing each year. You can't inflate out of something that's growing each year. It would be like having a home mortgage that grew every year instead of remaining constant. 20% of the budget now goes just to service the debt. In 2002 it was 18%. This is why I said 'we should be so lucky in this country to have rising wages'. There's no impetus to make wages rise...quite the opposite...jobs go offshore. Of course there is no president or congress that will act to raise taxes for that purpose. Never, ever. That's simply untrue. Democrats have a long history of responsible budgeting. You need to closely read the article Syb posted. It might be slanted somewhat but the facts are pretty straightforward. You seem to think our Great Society programs, SS and Medicare were wrongheaded. The EU countries have these plus universal health care and are in better shape than us fiscally. Would you dispense with entitlements? Or maybe copy Europe?