Posted: 3/14/2013 12:53:19 PM
QUOTE Originally Posted by thirdperson:
Unless a diaster destroys population, there will Americans alive to pay debt. Actually, more debt keeps countries financially alive such as European bailout of Greece. Solvency or ability to pay debt is more important than size of debt. Tax increases and spending cuts to reduce deficit might trigger a recession. So countries prefer to wait for stronger economy.
you keep leaving out the fact that large amounts of debt is like an anchor that stifles real economies, and the more excessive that debt is, the more difficult it will be for the real economy to improve...
taxing your wealth producers into oblivion coupled with unrestrained government spending will always strangle an economy...
sorry to crush another partisan fantasy