We should lock all of our congresscritters in one room, and not allow them to leave until they read Faust.
Anyway. I agree with you. What is frustrating and odd to me is that in our little hamlet of 600 people, it is impossible to get a straight answer from the village board on how much debt the township has accumulated.
I think the solution is simpler then you think. Force the .gov at every level to run a balanced budget.
The thing that troubles me the most isn't just the government debt - it's the systemic debt at every level, public and private. GM is a good illustration of why this is a problem. After their partial bankruptcy, which did very little other than trim the corporate structure a bit and eliminate or re-structure their debt, they're profitable. I get the sense that most of our companies and most of our governmental organizations suffer from the same sort of debt paralysis. We could probably be ok with too much consumer debt, or too much government debt, or too much industry debt, but all three together are a huge drag on the economy.
You see now we have productivity. As i keep saying, the left/right liberal/conservative divide is meaningless. Having healthy transparent finances is in everyones best interest regardless of ideology.
World $56.9 trillion (31 December 2009 est.) $60.83 trillion (31 December 2008 est.) note: this figure is the sum total of all countries' external debt, both public and private
United States $13.45 trillion (30 June 2009) $13.75 trillion (31 December 2008) note: approximately 4/5ths of US external debt is denominated in US dollars; foreign lenders have been willing to hold US dollar denominated debt instruments because they view the dollar as the world's reserve currency
USA holds 23% of total global debt. This will not have a happy ending.
Comments 6
Anyway. I agree with you. What is frustrating and odd to me is that in our little hamlet of 600 people, it is impossible to get a straight answer from the village board on how much debt the township has accumulated.
I think the solution is simpler then you think. Force the .gov at every level to run a balanced budget.
Reply
Reply
Reply
Reply
Interesting numbers here as well.
World $56.9 trillion (31 December 2009 est.)
$60.83 trillion (31 December 2008 est.)
note: this figure is the sum total of all countries' external debt, both public and private
United States $13.45 trillion (30 June 2009)
$13.75 trillion (31 December 2008)
note: approximately 4/5ths of US external debt is denominated in US dollars; foreign lenders have been willing to hold US dollar denominated debt instruments because they view the dollar as the world's reserve currency
USA holds 23% of total global debt. This will not have a happy ending.
Reply
(The comment has been removed)
Reply
Leave a comment