Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That's just hype. A government can never go bankrupt as long as it as the ability to tax. I don't like debt either. The first political organization I ever joined was the Concord Coalition devoted to paying down the debt. What you basically saying is do nothing. That's not an option for those serious about getting out of this mess.
Other things equal, public investment is a much better way to provide economic stimulus than tax cuts, for two reasons. First, if the government spends money, that money is spent, helping support demand, whereas tax cuts may be largely saved.
Americans in distress — unemployment benefits, food stamps, etc..
He is outright saying it's not good for you to save your money it's better sent to unemployment and food stamps where (since times are rough and food and such is needed) it's guaranteed to be spent. Even the economist are focused in on spend spend spend. Is that not frightening or is that just a sign of the times where savings matter no more?
No Krugman would agree with you on a personal level. It IS better for YOU to have more savings and pay less taxes. He's speaking on a macro level. It IS better for Americans not to save NOW but rather spend more now. On a macro level it's better for the government to deficit spend on infrastucture and job creating enterprise. But on a personal level you should attempt to lessen your taxes and save more...This is not that complicated.
The government in Russia is still there, it never stopped being there, and it never once lost the ability to raise revenue.
Next????
I didn't say Russia. I asked about the USSR, aka the Soviet Union, which collapsed under the weight of it's communist government and lack of economy. The Soviet Union broke apart, several groups went back to being their own independent nation, and Russia was left all alone. Russia is now trying to repeat the mistakes it made in the past.
I didn't say Russia. I asked about the USSR, aka the Soviet Union, which collapsed under the weight of it's communist government and lack of economy. The Soviet Union broke apart, several groups went back to being their own independent nation, and Russia was left all alone. Russia is now trying to repeat the mistakes it made in the past.
Yes yes all the different areas that comprised the USSR never went a day without a goverment. The names and actors changed but they continued to have governments and government spending...They never went a day without a government.
That's not bankruptcy...which doesn't even apply to governments...LOL
Boy, you must have missed everything that happened with the fall of the Soviet Union. I went to some of those former Soviet Nations, including Ukraine back in 1995 and 1996. They were finally able to begin to rebuild their nation and economy without being starved to death by the Communist government. I met and got to know some of the locals. The last thing they ever want is to return to living under the boot of the Russian Communist dictators.
Saving and personal debt reduction might seem like good ideas from an individual standpoint, but that's the worst that could happen from a societal perspective.
I'd like to understand that. Anyone?
If I'm an individual drowning in debt, the best thing I could do for my children and grandchildren is to get out of debt and have savings. I cannot see why the macro picture would be any different.
If I have to stop buying and "consuming" and start producing and working to accomplish this, then why wouldn't it be the same for the nation as a whole?
The US government adding $1 trillion more to the deficit is the wrong direction.
The government in Russia is still there, it never stopped being there, and it never once lost the ability to raise revenue.
Next????
The USSR imploded and the currency collapsed. Sure North America will be here, but what happens when the dollar collapses or people lose confidence in it?
The US dollar is not backed by gold, but the "US Government"!!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
