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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Sedohr Nod who wrote (71310)	8/30/2009 1:45:18 PM
From: tbancroft	2 Recommendations Respond to of 224748

... not a constituency for spending cuts. With the increased taxes that will be necessary to address the debt service going forward, many people will feel (somewhat justifiably) that they should be getting more/better government services for their additional money. Unfortunately it will be similar to the cases of individuals who are servicing their credit card debts. The money no longer is available for current needs, as it is already spoken for by debt repayment. There's going to be a great deal of difficulty tightening the collective national belt. Massive inflation is quite likely in order to let the government feel the least pain, as government always gets to spend pre-inflation-valued dollars (as we are currently seeing!) and pay back with devalued/inflated dollars.