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Originally Posted by Racist Boy Baldwin
ALL of that is bullsh!t. It's NOT the same because we'll NEVER pay it back? THAT is an explanation? We pay $600,000,000,000m $600 billion a year in interest, we PRINT that money because we don't have it. Your CD pays 1% when it SHOULD pay 6%...why? Because your government can't afford to pay OVER $1 trillion a year in interest payments.
We're getting to the point where we're not going to be able to make the minimum interest payment without borrowing a LOT more. Too much more. We already borrow about 25% of the federal budget...you think borrowing 50% is ok?
It's ALL moot anyway IF the minority majority keeps growing, we'll be 3rd world in 30 years and none of this will matter. There will be nobody left to care or run things...the white people will be gone. Blacks and Hispanics don't care about this stuff. You NEVER hear black or Hispanic people talking about, discussing finance and politics. Because they're NOT us.
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For just one moment, try to act on logic, instead of your emotional hatred of minorities...and read my links so you can educate yourself (if that's even possible).
What happens when a government sharply curtails its spending?
Maybe that's too tough of a question for you, so I'll simplify it...what does a government spend its money on?
I'll even give you the answer.
Goods, services, materials and wages.
So even you, with limited cognitive reasoning skills, should be able to figure out...what happens when those expenses are sharply reduced.
The 'deficit' is simply the yearly difference when what the government takes in...is less than what it spends.
What it 'takes in,' is mostly dependent on the economy (two-thirds of which is consumer spending)...and having people/companies working to add to the coffers.
By cutting too deeply, all of a sudden you no longer have the same amount coming in (less people working/less goods/less services/less materials)...so the 'cuts' are not linear.
As I said previously however, that doesn't mean you can do it in an uncontrolled manner...as that is unsustainable.
But the fact that we are STILL the economic engine of the world, is pretty clear evidence that our nation's economics/debts/deficits...ARE NOT the same as an individual's.
Those that keep trying to apply the same principles of a nations economics to the more simplistic metrics of personal debt...are totally missing the boat.