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

To: tejek who wrote (398622)	7/14/2008 11:56:16 AM
From: RetiredNow	Read Replies (1) \| Respond to of 1575230

Even more important, the US national debt was at $900B when Reagan took over in 1981. So he had a lot of room to inflate our economy through deficit spending. By the time Reagan left office, the debt stood at $2.6 trillion, which as 54% of that year's GDP. Then Bush Jr had a similar situation. When he took office, the debt was at $4 trillion, but it will be at $10 trillion by the time he leaves. So the next President is not going to have much room to continue deficit spending to prop up our economy. So all though, I agree the price of oil is exacerbating the problem, the real root cause is the US insolvency and the dollar's collapse as a result. This is why I think the piper has come calling and it's time to pay up.

To: tejek who wrote (398622)	7/14/2008 9:00:46 PM
From: combjelly	Respond to of 1575230

"I also think people are little bit more sophisticated about the issue than they were in the 1980s and will recognize that it will take more than one alternative to get us off oil." I doubt it. They are still looking for scapegoats. OPEC blocking production, Democrats blocking drilling, speculators. That can drag on for years. If they can't even look at the problem and say "well, whatever the cause, we cause here because we are relying on an energy source we have no control over" and deal with that, there is little hope they can get being a complicated, multi-faceted approach. It just isn't going to happen any time soon.