Originally posted by: eskimospy
Originally posted by: Genx87
Originally posted by: miketheidiot
i wonder if this guy coudl have gotten more facts wrong, but then again he does look at the world through pat-Buchanan colored glasses
Originally posted by: Genx87
Govt bubble will have to burst someday.
thats a nice talking point
What happens when govt is unable to continue expanding and pushing our gdp numbers up? At some point the bills will have to be paid. That means a contraction of govt, contraction in the economy, and a terrible correction.
'Bubble' is just the new buzzword that everyone likes to throw around. The only debts that need to be paid are our external debt to other countries, which amounts to about 25% of our total debt. The rest is internally owned. Our external debt is easily manageable.
Uh huh, try not paying on debt owned internally and see what happens. It may be paid back to people\organizations within the states. But the govt still have to raise money through more borrowing or taxes to pay off any interest or debt that is due.
