The Debates

JustJo · 10-20-2012, 07:56 AM

Thanks Kobi....I appreciate you pointing out that neither China or Japan want our economy to fail when they depend on it. Very true.

Also, people forget that the "national debt" is the sum of the Treasury bills that are issued. Essentially, we've written an IOU and promise to pay with interest. The vast majority of Treasury bills are owned by U.S. citizens and our own Social Security Trust Fund. So, essentially, the bulk of our debt is in our own hands.

Having said that, I'm not comfortable with us having this much debt. It's simply bad policy...much like an individual living off their credit card. At some point, there's a reckoning, and the amount spent on interest could have been better used on other things.

However, the Republican/Tea Party spin on the national debt is all about fear mongering.....big surprise, right?

Look here if you want to see the breakdown.

10-20-2012, 07:56 AM	#11
JustJo Infamous Member How Do You Identify?: pushy broad Preferred Pronoun?: she Relationship Status: Follow your heart; it knows things your mind cannot explain. Join Date: Jan 2010 Location: Southeast corner Posts: 5,633 My Photo Gallery Thanks: 24,417 Thanked 25,404 Times in 4,660 Posts Rep Power: 21474857	Thanks Kobi....I appreciate you pointing out that neither China or Japan want our economy to fail when they depend on it. Very true. Also, people forget that the "national debt" is the sum of the Treasury bills that are issued. Essentially, we've written an IOU and promise to pay with interest. The vast majority of Treasury bills are owned by U.S. citizens and our own Social Security Trust Fund. So, essentially, the bulk of our debt is in our own hands. Having said that, I'm not comfortable with us having this much debt. It's simply bad policy...much like an individual living off their credit card. At some point, there's a reckoning, and the amount spent on interest could have been better used on other things. However, the Republican/Tea Party spin on the national debt is all about fear mongering.....big surprise, right? Look here if you want to see the breakdown. __________________ I'm not tall enough to ride emotional roller coasters