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That is the most absurd notion I have heard in a while.
Deficits do matter:
1. The government says that there is a global credit crunch; therefore, the taxpayers have to capitalize the banks so they can continue to do business. It stands to reason that IF the government didn't have to BORROW so much money, then there SHOULD be plenty of money for the private sector to borrow. AND, there would not be a need for taxpayers to bail out businesses.
2. Debts are debts. Operating in the red means you are incurring debt. Debts have to be paid; otherwise, you're going to end up having the same credit rating that Cuba has.
3. A lot of people on these boards talk about the wisdom of "living within your means". Yet, that is not to apply to government? Yeah, right. That's typical "do as I say and not as I do". The idea that deficits don't matter must be coming from those who are doing all the borrowing and spending. Please.
4. Ask Warren Buffett which companies are better: the ones that have a lot of debt or the ones that have a lot of cash?
ANYTHING that cannot go on forever WILL stop... if that is the way you run your economics you can expect a crash and takeover of residual value. It took five or six centuries to fully destroy Rome but it appears that Congress can bring down the US in less time.
You just need to make sure you're not the last one standing when the music stops. No big whoop.
[quote=cdelena;5790543]ANYTHING that cannot go on forever WILL stop... if that is the way you run your economics you can expect a crash and takeover of residual value....quote]
Location: Georgia, on the Florida line, right above Tallahassee
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Go to your local library and see how many books that are there that say "Deficit spending is FREAKING AWESOME!!! NEED MORE! MORE!MORE!
Then take a look at how many say it really, really sucks.
2 beats 1. I know. I've been to the library. I have seen much and spoken little. Otherwise, the little lady says, "SHHHhhhhh!" and gives me a mean look.
Yes you heard it right, the deficit does not matter. The problem is most people will not take the time or do the research to find out why. Deficits only matter in blue pill economics.
The middle of a recession is the worst time for the government to get religion about deficits. Back in 1929 the Feds attempted to raise revenue and balance the budget and we know how that turned out.
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unfortunately they don't matter.
