Quote:
Originally Posted by Rajoo
Finally a point we can agree on. 
My own perception is that as long as we can run deficits indefinitely with once a decade "middle class" tax cuts to the rich as a nod to Reaganomics, our economy will do fine. Of course deficit reduction plans and debt ceiling fights are the annual drama we have to put up with, but not for the federal employees. If there is a shutdown, they will get a complementary paid vacation. |
I recall a college history professor who, when the subject of US debt came up in class, observed that any entity's financial solvency is a function of assets outweighing liabilities. He suggested that when this logic was applied to the US government, the value of assets would far exceed liabilities.
This was in the late 1970's, when liabilities were already exceeding assets.
At least he wasn't an Economics professor.