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<blockquote data-quote="804brown" data-source="post: 939353" data-attributes="member: 29553">Re: ObamanomicsYou cant compare the two.&nbsp;&nbsp; First, our govt has lived with debt since 1776.&nbsp; Even most businesses cannot live without debt.&nbsp; Secondly, i dont know any household that is able to spend by creditting bank deposits and reserves as our govt does&nbsp; or by issuing more money (as it has done for a long time). Plus a household cannot raise taxes if it needs revenue.&nbsp; One can get another job but there is a limit to how many extra jobs you can keep.&nbsp; Finally, the govt is the spender/employer/hirer of last resort. When the private sector cannot or will not create jobs, it is the responsibility of the govt to prime the pump and get things going again (keynesian economics).&nbsp; It is the only thing that has kept us from falling into a real depression again. During the&nbsp; great depression, millions of jobs were created solely by the creation of the govt.&nbsp; That is common sense.</blockquote>

[QUOTE="804brown, post: 939353, member: 29553"] [b]Re: Obamanomics[/b] You cant compare the two. First, our govt has lived with debt since 1776. Even most businesses cannot live without debt. Secondly, i dont know any household that is able to spend by creditting bank deposits and reserves as our govt does or by issuing more money (as it has done for a long time). Plus a household cannot raise taxes if it needs revenue. One can get another job but there is a limit to how many extra jobs you can keep. Finally, the govt is the spender/employer/hirer of last resort. When the private sector cannot or will not create jobs, it is the responsibility of the govt to prime the pump and get things going again (keynesian economics). It is the only thing that has kept us from falling into a real depression again. During the great depression, millions of jobs were created solely by the creation of the govt. That is common sense. [/QUOTE]

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