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

To: Sam who wrote (206254)	10/30/2012 10:15:35 AM
From: Steve Lokness	Read Replies (2) \| Respond to of 541851

Sam; Very interesting list of recessions! Wikepedia also has a great list that includes the period up to the present. What can a person take away from the list? The first significant point that caught my attention is that recessions are almost as regular as clock work! Going back to the 1830's, the longest interval between recessions was during the Clinton boom. That interval was 10 years. Which pretty much makes my point about Krugmans thinking; that is that we have no intention any longer of paying down the money we borrow. Keynesians claim that money should be and will be paid back during good times and yet during the very best times in our countries history we didn't pay down one cent of our debt!!!!! If we had the discipline to pay it down would be one thing - we do NOT have that discipline! Now as the baby boomers enter retirement, this large block of previous tax payers is going to stop paying taxes and start collecting on SS and Medicare. How in gawds name is that going to work to pay down debt during the best of times?