NYT: Wave of Debt Payments Facing U.S. Government

[coyotes_geek]

All money is created out of thin air.

Creating more of it doesn't solve our problems. If it did, we wouldn't be in this mess.

The danger now is that as the U.S. and world economy starts cranking again that there will be too many dollars chasing too few goods, but for the foreseeable future, that doesn't seem to be too big a concern...the alternative is unconsciousable though...

The alternative of starting to spend less than what we make is not unconsciousable, it's the only thing that's going to save us. We can not print out way out of this. Hard choices must be made. The longer we wait, the harder they get.

[Nbadan]

Creating more of it doesn't solve our problems. If it did, we wouldn't be in this mess.

Your right, we would be in a whole 'nother mess, actually creating more of it does solve our problems....for now...

[Nbadan]

The alternative of starting to spend less than what we make is not unconsciousable, it's the only thing that's going to save us. We can not print out way out of this. Hard choices must be made. The longer we wait, the harder they get.

I agree, but you pay back debt during economic expansions, not during recessions...

[EVAY]

I agree, but you pay back debt during economic expansions, not during recessions...

True, Dan, but we didn't pay back debt in the last expansion, which occurred during the years of the Repub control of congress and WH. Then we ADDED to the debt by increasing medicare without paying for it, ADDED to the debt by leaving two active wars outside of the budgeting process, thereby understating the amount of budget deficits that were being run, all because we wanted to 'keep money in the pockets of taxpayers by lowering tax rates!!

This is one of those times where both sides of the debate have some arguments that are reasonable on their side. It is absolutely true that helath care reform is needed desperately in this country, and that such reform should provide medical coverage for more Americans than is currently the case. It is JUST as true and reasonable that we can't exactly afford to do everything we need to do right now.

One other thing that is true (that will bring down the fires of the right-wing on my head)...wealthy individuals in this society need to be paying more taxes than they are currently paying. And, before you jump all over me, that statement is made by me with the knowledge that my own tax rate, currently the highest income rate in the U.S., will go up.

Do I enjoy paying taxes? NO. Would I rather not? NO! Because my country needs help right now and one way I can help is to provide a greater percentage of my disposable income in taxes. Because I am a fiscal realist who recognizes that we have very, very, very few alternatives right now, and this fiscal mess is at least as important to the nation as health care.