Posted by tecwrg on 3/4/2013 11:59:00 AM (view original):
Posted by bad_luck on 3/4/2013 11:55:00 AM (view original):Stupid is stupid, is it not?
Posted by tecwrg on 3/4/2013 11:47:00 AM (view original):Consumer debt and government debt are not the same thing.
bad_luck appears to have forgotten that stupid spending on the part of consumers is what caused the recession in the first place, when they couldn't pay their accumulated debt.
His "solution" is stupid spending on the part of the government, thus increasing the government debt.
There's word for this, but it escapes me at the moment.
No, not really.
Consumer spending drove the economy, but when people had to pull back to service debt, it left a massive hole in the economy (kind of like what would happen if the government cut the deficit now).
The government doesn't have to stop spending to deal with the debt, at least not anytime soon. We've had over a trillion dollars in debt for over 30 years. It can wait out the slow economy and cut back when the consequences won't be as severe.