Amazingly, you continue to ignore the fact that the mortgages are the root cause of the problem. If the mortgages were not such a mess, the derivatives market would not be a mess either. Facts suck, don't they?
We're going to have to ride it out, period. Raising taxes is what FDR did and it resulted in worse economic conditions than before he raised taxes. Realistically, as you used to argue before you went off into the wilderness of liberal pseudo-economics, the country is already insolvent. We are never going to be able to pay what we will owe to SS and Medicare, much less all the additional debt that we are accumulating right now. Cutting spending is the only way out, but US voters don't want it. On Tue, Feb 3, 2009 at 4:50 PM, Gruss G wrote: > > $80B != $2T Huh. Guess you're wrong by at least 2 orders of > magnitude. Facts suck, huh? > > > * If the gov't manages us to pull us out of a depression (I'd say > 50-50 at this point), we'll have massive debt. There'll be only 3 > choices: > > 1.) US gov't defaults for the first time in, oh, say 300 years. Not > appealing. At all. > > 2.) Massive inflation to offset the value of the debt held. Not > appealing. At all. > > 3.) Cut government spending and raise taxes and pay it off like every > American family. > > -- --------------- Robert Munn www.emergentpath.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:287259 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
