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View Diary: Fiscal Sustainability Teach-In & The Deficit: Nine Myths We Can’t Afford (33 comments)

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  •  asfd (1+ / 0-)
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    Sounds like a bunch of bunk to me.

    Deficits do matter.  Just "turning on the printing presses at Treasury" does not make problems with owing other countries go away.  You print more money, the less a dollar is worth, thus your debt increases proportionally.  Well, until you reach the point that other countries will not loan to you, or at outrageous rates like Germany towards Greece.

    You're also completely ignoring (except to say that it would happen) inflation and its effects towards our citizens.  Sorry, I do not want to see $10.00 a loaf for bread because you cannot make yourself raise taxes or cut spending.

    While I'm not necessarily in the Progressive camp on how to raise government money (ie taxes and how they are raised), completely ignoring the issues do not make them go away.

    The problem, as I see it, with Social Security is not that it will be insovent in the near term future or even with a huge number of the baby boomers set to retire and collect soon.  The problem is that the government has raided that "lock box" so many times that there is little actual money there, just a whole bunch of IOUs from just about every organization in the government.  If the money isn't there, it just isn't there, thus payments DO become a problem.  The solution is simple.  Stop spending that "lock box" money and pay back the IOUs and loans made from it.  Let it start collecting interest again.  That should solve any crisis the program would be facing in the near term future.  I could be wrong, but I'm pretty sure of the problem here.

    "It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first." - Ronald Reagan

    by erush1345 on Fri Apr 30, 2010 at 04:39:00 PM PDT

    •  investing in the future of our country. (0+ / 0-)

      Deficits do matter. the question is how -- and it's not like the matter for a household budget. the two are not analogous.

      no one is ignoring inflation either.

      ..... but money is not a store of national wealth. so the idea the fed gov of storing dollars to pay for the next generation's retirement makes no sense what so ever. if we want to take better care of our seniors, we need a vibrant economy.

      how many things can a country invest in for the long term -- say 50 years?

      it's not by hiding away some $. it's by investing in things with long term benefit: the education of our citizens. how we care for the environment.

      those are real investments for the future.

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