Quote:
Originally posted by Mishi
I try to stay out of political threads, because my political beliefs are based largely on emotion, and that doesn't tend to make for a good basis for argument...
BUT...though I tend (strongly) toward the liberal, I can't help thinking of something my dear ol' (conservative) dad has frequently repeated - and maybe somebody here with a bit more knowlege of economics can expound on this...the notion of the US Government's "debt" is something of a straw man, as that debt is internal - it's credit extended by US companies, or else it's in the form of T-Bills, which of course are investments that make money for US citizens. So it's kind of like saying you're family's broke because your ma loaned your no-good brother a hundred bucks, and he'll never be able to pay it back 'cause you own the note on his Ford...or something. Maybe. Hell, I dunno. I've been up all night. I'm tired and stupid.
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The bulk of the National Debt is owed to Americans by Americans.