Comments on: Updated: What? Government Debt Strangles The Economy? (& The Big Freeze Fallacy)

By: Gringo Malo

Gringo Malo — Thu, 28 Jan 2010 15:42:30 +0000

Doesn’t 1946+65=2011? Aren’t we about to see a rather large increase in Social Security and Medicare spending as the Baby Boomers claim what most of them regard as their entitlements? I suspect that we could eliminate all discretionary spending, withdraw from all our foreign military commitments, and still be swimming in red ink.

By: james huggins

james huggins — Wed, 27 Jan 2010 17:50:28 +0000

Figures lie and liars figure.

By: Myron Pauli

Myron Pauli — Wed, 27 Jan 2010 03:40:38 +0000

Should interest rates ever go to 10% – not inconceivable if confidence in the paper dollar drops from all this counterfeiting – just SERVICING the debt will cost $ 6000 per taxpayer. And by taxpayer, I mean supermarket grocery bagger, nurses’ assistants, etc. The federal budget will be $ 25,000 per janitor, bus driver, and hairdresser. Add the state/local budgets (California is nearly in Chapter 11) and it is a complete catastrophe. And there are not enough rich people to save this wreckage.

The only part Obama might have right is blaming Bush and the Republicans. However, Obama and the Democrats were williing and eager accessories to the the criminality of these defecits.

And what do we have to show for all the spending? The eternal gratitude of the Iraqi people for liberating them, a generation of ghetto illiterates, and GM Clunkers!!!!

By: Steve Bernier

Steve Bernier — Wed, 27 Jan 2010 03:12:37 +0000

Is this where the word “DUH” would be appropriate? $1.35 trillion is a lot of wealth to be “spread around”.