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>You have a strong political opinion, and an inflated sense of authority." But he's correct. It's one of the most ridiculous arguments perpetuated. Comparing

>You have a strong political opinion, and an inflated sense of authority." But he's correct. It's one of the most ridiculous arguments perpetuated. Comparing a city (or a household) with an entity with the capacity to print the currency in which its debts are denominated is nonsensical. Solvency and bankruptcy are a not an issue for the United States. The constraint is inflation. The whole country can't stop spending at once. The sooner people realize that public deficits create private financial assets, and hence are necessary during recessions, the better we'll all be. As far as your article, anyone who considers "unfunded obligations" to be debt is not worth listening to.

NoPiece 13y ago
You are arguing that the US has seatbelts and can survive a car crash, while Detroit gets ejected through the windshield. I'm saying, stop recklessly speeding down the highway like Detroit, because we're better off avoiding the car crash. The goal is to avoid a debt crisis entirely. Detroit and the US are both spending themselves into a debt crisis. That different solutions apply once the crisis is reached is true, but the analogy holds when you are looking at the cause and hopefully avoiding the crisis.
- onebaddude 13y ago
  >"Detroit and the US are both spending themselves into a debt crisis." Do you have any data that the US is on its way to a debt crisis? It sounds to me you're just repeatedly and wrongly assuming that we're somewhere near a point where paying our bills is an issue. Like Detroit. Except Detroit is bankrupt, and the US is growing. There is no similarity between "debt issues" of Detroit and the US. None.
  - NoPiece 13y ago
    Ya I have data, here is the current debt: $16,744,814,606,837.32 Or how about a quotations from our president: The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
    - enraged_camel 13y ago
      >>Ya I have data, here is the current debt: $16,744,814,606,837.32 That does not point to a crisis. >>Or how about a quotations from our president: When you grow older (snicker) you might learn how to distinguish rhetoric from fact.

NoPiece 13y ago

You are arguing that the US has seatbelts and can survive a car crash, while Detroit gets ejected through the windshield. I'm saying, stop recklessly speeding down the highway like Detroit, because we're better off avoiding the car crash. The goal is to avoid a debt crisis entirely. Detroit and the US are both spending themselves into a debt crisis. That different solutions apply once the crisis is reached is true, but the analogy holds when you are looking at the cause and hopefully avoiding the crisis.

onebaddude 13y ago
>"Detroit and the US are both spending themselves into a debt crisis." Do you have any data that the US is on its way to a debt crisis? It sounds to me you're just repeatedly and wrongly assuming that we're somewhere near a point where paying our bills is an issue. Like Detroit. Except Detroit is bankrupt, and the US is growing. There is no similarity between "debt issues" of Detroit and the US. None.
- NoPiece 13y ago
  Ya I have data, here is the current debt: $16,744,814,606,837.32 Or how about a quotations from our president: The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
  - enraged_camel 13y ago
    >>Ya I have data, here is the current debt: $16,744,814,606,837.32 That does not point to a crisis. >>Or how about a quotations from our president: When you grow older (snicker) you might learn how to distinguish rhetoric from fact.