-Dick Cheney http://www.businessweek.com/magazine/content/04_52/b3914021_mz007.htm "A decade later, Republican deficit hawks have all but vanished. "It's pretty astonishing," I was told by Robert L. Bixby, executive director of the Concord Coalition. "We used to get a lot of Democrats saying: 'You're just a Republican front group.' Now it's almost the reverse. The change in the Republican Party has been astounding." Are we on the record? I asked. "Absolutely," he replied. "The Republicans are now the ones making excuses for big deficits."" How quickly we forget.
The reason we have deficits is because the Gummint WANTS to spend willy-nilly... does not want to be constrained to spending "only what they have". Reagan cranked up deficit spending... some dumbass Legislator (Republican, no doubt) is even known to say, "Reagan proved deficits don't matter".... That's a total crock of horseshit! Deficts eventually bring the economy, the country, and its citizens to TOTAL FINANCIAL DESTRUCTION.... a few of the richest survive in a depleted state, but not many...
They really don't if you are the reserve currency, and depends on what your time frame is Deficits are symptom not a cause. Continued Deficits are a symptom of a declining society trying to maintain a certain standard of living. Like an over the hill pop start who will not let go of the glory days. If the pop star dies in cocaine overdose before the creditors get to him, then hey deficits don't matter. But if the popstar outlives his spending then they end up living in a government housing project and selling all their crap on ebay. The deficits of the US. are a symptom of not dealing with reality. But we have been at this pace now for almost 70 years since the end of WWII. And yet life for the average american has never been better. So, if we go another 70 years before it all collapses, then we had a good run. So, maybe in the end deficits don't really matter. Since they point to a larger problem, and if we can't correct those problems then enjoy what we have and another generation will need to start from scratch. They idea of having no deficits would require a life changing psyche change and severe structural changes in the U.S government and citizens and despite the tea parties, its just not happening, deficits are here, and they will be here until the country collapse in maybe another 100 years.
1. Deficits are a major "inflation mechanism"... which we all know is a covert method of confiscating the assets of the citizenry without their understanding, and "right under their noses".. 2. There would be no concern about "good run"... without deficit spending and other plans of this ilk, we would have "financial vigor in perpetuity"... for the current generations, their children, and grandchildren. 3. Economic collapse in the USA likely within 30 years (perhaps only 5-10 years under NOBama).. maybe 50, if we're lucky. No way we "last another 100 years" at the rate we're going. Face it... you children and your grandchildren are FUCKED!! And YOU have to accept the fact that you voted the assholes into office who did it... Maybe the "NOBama hand outs" don't seem so sweet after all..
Totally agree with points 1&2. I didn't vote BOH into office. I think we outlast longer than you think. GB has been in worse shape, and they struggle on. The economic collapse needs to happen with a political collapse. Democracies don't die in a ball of fire, they sort of just metastasize over time. US has been playing this shell game for 70 years, and it looks we may get a reprieve soon. The sheeple have a short memory, and its getting shorter. The roman empire declined over hundreds of years, so has France, UK, etc.
Nobody "knows" how long before the collapse... The inflation and currency debasement seems "acceptable" at first, is later tolerated, and later still collapses... problem is that the "time line" is parabolic... near the end, the collapse "gets out of hand".... that's why I suspect only 30 years. I hope I'm wrong, of course. (I'm not thinking, "total collapse to zero everywhere"... but more of a functional collapse within 30 years... maybe the $USD loses 75-90% of its buying power and inflation is running 15-20%... that's not "wipe-out to oblivion", but close enough to leave nearly all citizens effectively bankrupt.) I don't see your "reprieve"... what is that based upon?