Originally Posted by Eddie_T
Poor analog, 30 year mortgages are paid down per a schedule or were before the housing bubble burst.
False. Each and every loan the government takes on is paid down per a schedule.
You're forgetting that mortgages can be - and regularly are - refinanced. You can pay on a mortgage for 5 years, then refinance the remaining 25 years worth of principal into a new 30-year mortgage. Or, you can re-mortgage the entire, appreciated value of the property, often called an "equity loan", You can do this every year, every other year, ever 5 years, or however often you want. (although origination fees tend to discourage frequent churn like this)
The analogy isn't perfect, but it's quite apt.
I say there is no serious intent to eliminate the deficit and the debt can never be paid (just do the math).
I'm trying not to rise to your debt-bait anymore, but I will ask a rhetorical question: If you can get a 5% return on your investment, and the cost to borrow is 1%, how much money should you borrow?
I would argue that your inability to conceive of any way in which the deficit can be eliminated and/or the debt be repaid says more about your math skills and shortsightedness than it does about the deficit or the debt.
Will you tell us what welfare, unemployment, and other poverty benefits will do to the deficit if the republicans were actually serious about the "let it burn" approach?
The economy is the real issue. The deficit and debt are a symptom of that issue. The cure to the economy is consumer confidence. Fix that, and everything else falls into place. A large majority of the people have indicated they want higher taxes on the rich. A large majority of the rich have said "Tax us; we'll benefit more from consumers being happy and buying more of our products and services than we will lose in the additional taxes assessed against us."
Why is this so difficult a concept to understand?