Quote:
Originally posted by Webby
OK.. excuse that typo.. what's the difference in some $?
The figure should read... $44,200 billion 
|
I peronally do no like having our current multi trillion dollar National Debt and I personally do not like the Congress running deficit budgets again...but the majority of econcomists say that carrying debt is not a problem as long as the percentage of GNP gorwth continues to be larger than the percentage of debt growth...and this makes sense.
An individual that carries debt can continue to carry current debt and increase his current debt as long as his personal income increases enough to carry increased debt.
The American GNP is still growing even though there is a slow down in growth...and this of course is not the first time there has been a slow down and will of course not be the last time.
Most of my life I have heard the doom sayers predicting ecomonic collapse...and the GNP is larger than ever and growing.
I repeat neither will happen in your lifetime.