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View Diary: "We" Don't Owe $16 Trillion; and You Don't Owe $50,000 (31 comments)

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  •  A bit off topic, but my first reaction (3+ / 0-)
    Recommended by:
    grover, Sylv, Calamity Jean

    to the nonsensical idea that we the people owe our proportional amount of the national debt is this:

    If we each "owe" $50,000 because the national debt is $16T, what about those other "people?  You know, "corporations are people, my friends.". Why are they never figured into these calculations?  Don't they owe anything?

    In ten years Obamacare will be as popular as Social Security and Medicare, and Mitt Romney will be demanding all the credit.

    by Fiddler On A Hot Tin Roof on Wed Sep 05, 2012 at 11:04:37 PM PDT

    •  Actually, if we manage the economy (1+ / 0-)
      Recommended by:
      Sylv

      effectively, they will pay it all through economic growth.

      Even a small amount of inflation will take care of another slice (inflation makes debt smaller).

      As a proportion of GDP, the deficit is quite small and manageable. Even the GOP knows this which is why they have consistently voted to increase it, without demur until Obama became President.

      "Debt Crisis" is another Republican lie.

      I hope that the quality of debate will improve,
      but I fear we will remain Democrats.

      by twigg on Thu Sep 06, 2012 at 05:08:38 AM PDT

      [ Parent ]

    •  Maybe we cab weight them (1+ / 0-)
      Recommended by:
      psyched

      by the amount of their assets and they can owe more the richer they are!

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