Originally Posted by Eddie_T
We do need a third party, name calling is childish what we face is a debt that will never be paid though few of either stripe will admit it. When Obama says we have to pay our bills he cunningly avoids the whole truth which is, "Those ole mean republicans don't want me to borrow enough money to pay our bills." Someday we will have borrowed so much that our bonds and T bills will no longer be sought. I don't know at what point confidence will be lost, but that is what we are betting our future on. Meanwhile the debt keeps rising and only the interest is being paid (and 41 cents on the dollar of that is borrowed money).
The debt will never be paid down to a zero balance. If someone is willing to extend you a perpetual "loan" for what is effectively 0% interest, you would be a fool to ever completely pay it off. That's what the government has. They pay an interest rate that they control, an interest rate that is equal to the inflation rate, which is equivalent to you or I having a 0% interest rate on a loan.
Everyone understands this. We also understand that the people holding this debt are using it to maintain their own financial stability, and their financial contributes to the stability of the nation's economy, and through that, the nation as a whole.
Frankly, nobody cares about financial advice coming from someone who is incapable of comprehending this.