we're fucked, excessive borrowing and spending with no limits and no cares. the economy will not recover and 10% unemployment will be the norm, the next two generations including many of the younger providers will have tax rates of 75% to pay back China for our credit card party we've had. but hey the takers won over the producers and i will personally do everything i can to shelter my income rather than support Obama voters who chose govt freebies over capitalism and freedom
Originally Posted by Txfishkiller
You have no idea what you are talking about. First of all the stock market is up 75% since Obama took office (and it was headed way down right then).
Second, 66% of the debt is owed to us, yes us. Only about 33% is owned to foreigners and it is owed in dollars (which we can print at will).
Since we have a fiat money monetary system we don't have to borrow, sell bonds, pay interest or pay any attention to rating agencies. Those are all artifacts of the pre-1971 gold standard monetary system that Nixon, yes Nixon took us off of.
You are a FOX and Limbaugh educated know-nothing idiot who doesn't have the least clue how macro-economics works at all. "Takers and Makers" is FOX and right wing rhetoric that has no relation to reality just like Republican projections of a Romney landslide had no connection to reality. Get a grip (on reality).