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Xinyuan Real Estate Co., Ltd. Message Board

  • walrathcrai walrathcrai Oct 23, 2012 2:52 AM Flag

    Government Debt

    There is more nonsense written about government debt than almost any other subject. That's because almost no one understands it. You hear politicians say we're leaving the debt for our kids to pay. Well the kids won't pay it either. When will it get paid?? NEVER!! And it doesn't matter. What does matter is whether your debt grows faster than your economy. If the debt continues to mount at a faster rate than the economy at some point the world won't buy our bonds and rates will skyrocket. This is what is going on in Greece and to a lesser extent Italy and Spain. We need our economy to grow faster than the debt. And we need to reduce the defict. This is ALREADY happening. The deficit has been reduced by a third. It will go down some more next year. We need to go back to Clinton era tax rates. We ended that era with a surplus and we can at least reduce the deficit to manageable levels in this era.

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