Our National Debt Denial

[KenH]

"Yes, worriers like me have warned of such a crisis for a long time, and it hasn’t happened yet. Well, California rests on a fault and hasn’t suffered a devastating earthquake in 100 years. That does not prove earthquakes can no longer happen, or that those who warn of earthquakes are chicken littles." ...

It is perhaps beyond hope that politicians will ignore such low rates and foreswear borrowing and blowing an immense amount of money. But if the U.S. borrows long term, then it is completely insulated from a debt crisis, in which rising rates feed higher deficits which feed higher rates. Avoiding a debt crisis for a generation really is worth an extra percent of interest cost.

Cutting spending, reforming taxes and entitlements, and saying no to voters who want bailouts and to a progressive army that wants immense spending programs is the tough job of politicians, one which they will likely fail to do. But the incoming Treasury secretary pick, the talented and sensible Janet Yellen, can choose all on her own whether the country borrows short or long, and thereby avoid a debt crisis for a generation.

If I get to whisper two words in her ear, they will be these: Borrow long."

Our National Debt Denial | Cato Institute

 

[Guvnuh]

Borrow nothing.

cut, cut , cut

Ween the states and locals from udder of “phony” federal money.


Focus on the absolute essentials.

You forget any of the above ever happening under the professional pols taking office in January.

 

[Marooncat79]

What if the moon comes crashing into the earth?

Jesus tell us not to worry man

GnP

Jer 10:10

 

[Reynolds]

"Yes, worriers like me have warned of such a crisis for a long time, and it hasn’t happened yet. Well, California rests on a fault and hasn’t suffered a devastating earthquake in 100 years. That does not prove earthquakes can no longer happen, or that those who warn of earthquakes are chicken littles." ...

It is perhaps beyond hope that politicians will ignore such low rates and foreswear borrowing and blowing an immense amount of money. But if the U.S. borrows long term, then it is completely insulated from a debt crisis, in which rising rates feed higher deficits which feed higher rates. Avoiding a debt crisis for a generation really is worth an extra percent of interest cost.

Cutting spending, reforming taxes and entitlements, and saying no to voters who want bailouts and to a progressive army that wants immense spending programs is the tough job of politicians, one which they will likely fail to do. But the incoming Treasury secretary pick, the talented and sensible Janet Yellen, can choose all on her own whether the country borrows short or long, and thereby avoid a debt crisis for a generation.

If I get to whisper two words in her ear, they will be these: Borrow long."

Our National Debt Denial | Cato Institute

Politicians are politicians. Their main goal is getting re-elected. They don't care what kind of mess they leave after they leave office.

 

[Guvnuh]

Yep, politicians are indeed more concerned with power than prudent, purposeful stewardship of the people’s money and well being.

I’m not worried or afraid. When our country murders 60 million babies, allows homosexual marriage, sex changes for children, the blatant overspending by governments, attempts to silence the gospel, attempts to remove signs or symbols of Christianity.
I’m not afraid judgment will fall on America , I expect it and like Jeremiah we will witness it.