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reply to post by The only 1 who knows the
I love the post, but how in the Sam Hill did you manage to get that all typed up so quickly? It would have taken me two hours and a full pot of coffee. It's almost like you had it ready to go just in case the topic came up.
The only 1 who knows the
Don't ever forget that we the people are the goverment
edit on 4-10-2013 by The only 1 who knows the because: (no reason given)edit on 4-10-2013 by The only 1 who knows the because: (no reason given)
A way to look at the national debt is to think about personal debt. Generally speaking, the greater your income, the greater your ability to handle debt. So, even if your level of debt increases as your income rises, your debt to income ratio can remain the same. This is what we've seen with the US national debt. Currently that ratio is lower than it was in 1995 and much lower that it was in 1948.
Does that mean that it's no big deal? No, of course not. Because as the actual debt level increases, so does the cost of servicing it. But does it mean that the country is heading to ruin? Not necessarily, not as long as the GDP can keep pace. What it does mean is that those who produce that GDP (not the government) are those who are on the hook to pay that debt...obviously.
Look at it positively. Each of us has a really good credit rating thanks to the government spending our money which they don't have.
reply to post by Wrabbit2000
Ok, so explain to me how the debt ceiling prevents accumulating debt in a responsible way.