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Please begin with an informative title:

I need help but first a little about my self.I am a middle age  bald guy been to college got a associates degree in general studies so I can read ,write and count to hundred in three languages no less lol. So here is the problem I guess I don't understand economics! DEBT AND DEFICITS OH MY!!! I have had many macro economics debates with teabag friends about the deficit and debts and cant seem to get why they have their panties all in a bind over them.I try to understand but ive come to the point where im starting to believe im just stupid because the problems they  worry about in the big picture don't seem to express themselves in the small picture like family economics that they keep parroting as the bench mark that the government should live by. So back to myself.I own and run a small vending business and during the last decade I was the poster boy for people that took advantage of the banks irrational lending standards.I would buy distressed real estate fix it up than get a home equity line against it and than repeat the process .I rented the houses out sold a few and now

Intro

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own 7 .My total debt is around 200,00$ my total equity is around 500,000$ between the rentals ,the vending business ,and part time "real" job we bring in before taxes and deductions is 82,000$ so as you can see i owe almost 3 times as much as I earn a year. So when talking to teabag friends and the topic comes to the national debt and the inflation they worry about and  im like so what ,, don't care .That gets them so mad its funny but than I go on to explain why it doesn't matter  but it doesn't sink in .My debt was incurred with yesterdays dollars  and I pay that debt with tomorrow's dollars. If inflation goes up so will my pay simple as that and over a long period of time as pay and expenses go up nationally my personal debt will vanish because its in yesterday's dollars getting paid with tomorrow's dollars which i will have more of and will be worth less than today's dollars. Think of it like this; go back to 1970 buy a house but pay for it with 2013 dollars ! That would be a great deal! My parents house bought in 1970 cost them 25,ooo$.It was a 4 bedroom 3000 sqft house in Merrimack N.H. the suburbs of Boston mass.At the time my dad made about 15 grand a year and it was hard to pay off with those days dollars but today's dollars it would be a cinch..He was a aircraft controller and today those guys make  5o grand  a year.Taking out debt helps us invest in ourselves ,if it is done with a certain control it wont be a problem to us or our grand kids .The people that get hurt are the very rich and the banks. They hate inflation!! its like theft to them because its their dollars that are borrowed today and paid back with tomorrow's dollars that will be worth less than today's with out a doubt. The other folks that get hurt are people with large amounts of dollars saved in a bank or worse in a mattress because as those dollars sit there they shrink in value over time but again who does that? They very rich does! The days of our elderly saving thousands of dollars in a savings account are over they just don't do like they did 50 to a hundred years ago they put that money in IRA'S,401 K's or any number of inflation protected investments .You know this to be true because we are tomorrow's elderly and where is our savings? Its the rich who own this gov't and run this country who will lose with inflation you and me wont..If any ecomics proffessors are out help me out is this true or am i very misguided.

Extended (Optional)

Poll

are you worried about the defict?

25%4 votes
75%12 votes

| 16 votes | Vote | Results

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