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<blockquote data-quote="vantexan" data-source="post: 2146724" data-attributes="member: 24302"><p>Where you are wrong is other governments are bitching about buying our bonds and being paid back in printed, inflated money. They're suggesting creating an alternative to the American Dollar as the world's reserve currency, which would really hurt us. So that avenue is quickly closing down. The problem is we are spending way beyond our means, like Greece. We aren't as bad off as they are yet, but we aren't the world's industrial power like we were in the 50's either. We have to control our spending, and the best way to pay down our debt is to make the State's as business friendly as possible. That would get investment from around the world and create jobs. We won't pay the debt off, but with a good economy we can reduce it's affect on our Federal budget. Otherwise servicing the debt becomes an ever increasing part of the budget, and the tax burden to pay it will become very high(i.e. unsustainable)</p></blockquote><p></p>
[QUOTE="vantexan, post: 2146724, member: 24302"] Where you are wrong is other governments are bitching about buying our bonds and being paid back in printed, inflated money. They're suggesting creating an alternative to the American Dollar as the world's reserve currency, which would really hurt us. So that avenue is quickly closing down. The problem is we are spending way beyond our means, like Greece. We aren't as bad off as they are yet, but we aren't the world's industrial power like we were in the 50's either. We have to control our spending, and the best way to pay down our debt is to make the State's as business friendly as possible. That would get investment from around the world and create jobs. We won't pay the debt off, but with a good economy we can reduce it's affect on our Federal budget. Otherwise servicing the debt becomes an ever increasing part of the budget, and the tax burden to pay it will become very high(i.e. unsustainable) [/QUOTE]
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