Economy

Debt is good.

Posted by Monica Smith on 04/14/2011 Views 64
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I propose that debt is a good thing.  It means that you recognize that you owe someone something for benefits received.  And that feels good.

While a debt of over $146,000 per person may seem enormous, think of all it represents -- a share in

 

  • public highways
  • public schools
  • public libraries
  • public transit systems
  • public parks
  • public health clinics
  • public records
  • public information
  • public servants, etc.

 

And then there's all the national stuff.  The question we have to ask is how come some of the people we elect to be the stewards of these treasures are wanting to give them away to people whose record of careful management is already suspect (bankruptcy is the evidence).  

Perhaps we should take a lesson from the Bible and get rid of unjust stewards. 

Read all the Economy proposals.

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5 Comments
1
03:28 | 15/04/2011Bruno  Lopez
I agree with the first two comments. National debt is not good at all, ask the Greeks, Irish and Portuguese, see how they feel after being rescued. Every dollar you owe, you lose a little bit of autonomy.
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13:39 | 14/04/2011Rachel Norton
Very thought-provoking proposal, Monica - thanks for giving commenters something meaty to chew on!
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13:26 | 14/04/2011Nona Burgess
OK, having a stake in all of the public institutions you list is (in my opinion) a great and important thing. But . . . at some point debt must be repaid, mustn't it? And the service on that debt can become crippling if you are continually racking it up rather than whittling it down to manageable size. What is an appropriate level of debt for the U.S. economy/fiscal health?
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13:14 | 14/04/2011Boris Novokoff
I also disagree. Thats like saying you like paying the mortgage on your house because it reminds you that you are paying for a quality product. Wouldn't you rather just own it yourself? it makes me uneasy knowing that we owe so much and the first step to buying back our debt is to reduce our spending.
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10:45 | 14/04/2011william h lasley jr
Debt for the nation is not good because it increases inflation and decreases economic power and status of a country. The United States is now owned by more foriegn countries(that used to owe us), then ever befor. The politicians are going about trying to fix the deficite, the wrong way; ie., on the backs of the senior citizens and the working poor. They've already taken COLA increases from the disabled and the elderly; we need those raises just to live!!Who's looking out for us? Nobody!
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