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View Diary: Why is it "Deficits don't matter" -- whenever THEY are in Charge? (24 comments)

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  •  Slightly off-topic (2+ / 0-)
    Recommended by:
    truong son traveler, jamess

    Why are there ever any deficits?

    We don't live in the future, we live in the present, with a boost from the past. How is it that the future funds the present, then?

    We live off current income and existing assets. No one eats food that won't be harvested until next year. No one sleeps in a house that won't be built for another 10 years. We use and consume things that actually exist right now.

    So how come we have to borrow to pay for current expenses? The money trail doesn't match up to how we really live. Seems like the "money model" of reality is seriously out of synch with actual reality.

    Might want to fix that.

    •  The way I look at Deficits (2+ / 0-)
      Recommended by:
      jimreyn, DBunn

      is it's like going in debt,

      to buy a home,

      to go to college, or

      to start a business --

      Ideally such debt,
      will pay for itself in the long run ...

      assuming the debt is invested wisely
      in things that will benefit us in the future.

      (of course that's all on the micro-economic scale,
      and govts run on the macro scale.)

      The press is impotent when it abandons itself to falsehood. --Thomas Jefferson to Thomas Seymour, 1807

      by jamess on Wed Sep 01, 2010 at 08:34:14 PM PDT

      [ Parent ]

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