Is it responsible of the democrats to demand that we borrow more than the nation can pay off?
Why are they so angry that the people of this nation have finally put their foot down and told them "NO"?
@Kitten ~ okay, I will lump the establishment neo-cons in with the democrat progressives since they are essentially the same animal under different stripes. The people of this nation HAVE still said "NO" to your masters' cronyism to the bankers that mires us in unsustainable debt.
- who WAS #1?Lv 77 years agoFavorite Answer
Why do people continue to maintain the false belief that money is "something"? Borrowing creates money: money is debt. How can it be paid off? Paying debt off destroys money. And how can it be paid? You can't pay a debt with a debt. The National debt was never designed to be paid off or paid down because since about 1971 notes are all we have for money.
Thanks to the magic of fractional reserve banking, every dollar you deposit creates 10 and every dollar of debt you pay off destroys 10. Do you think the Federal Reserve will allow deflation? The system was designed for inflation, for growth.
The concept of paying debts off is absurd and will never happen.
- dakotaviperLv 77 years ago
No. Mainly because Democrats think that they can do and say whatever they want without any fear of responsibility or any repercussions for anything. They cannot comprehend that Debt is not a successful endeavor. So, any Debt to them is akin to Success and Power.
- 7 years ago
It has been and still is irresponsible of both parties to keep doing this.
Spending increases and tax cuts both "stimulate" the economy by pouring in borrowed money to import goods to be consumed without ever bothering to increase domestic productivity.
- Anonymous7 years ago
more than we can pay off? how do you figure?
GDP is like total national earnings for a year...
most people are in more than 100 percent of their debt than their earnings, I mean houses usually cost 3 to 4 times your annual earnings... on average
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- Paul JacksonLv 77 years ago
If you think the Republicans aren't going to borrow anymore money you are a gullible fool.
- yLv 77 years ago
What is irresponsible is the media not reporting. That emails now link the more then just the white house legal dept to the IRS targeting.
- TheKittenLv 77 years ago
Of course that's not sustainable forever.
But trying to make it a partisan issue is hypocritical in the extreme.
- Anonymous7 years ago
We already owe more than could ever be paid off if that was the goal but Democrats do not care so long as their free phones work and their EBT cards are full.Source(s): OBAMA SO LOVED THE POOR HE CREATED MILLIONS MORE!!!!!!
- RickLv 67 years ago
Republicans have already set the budget amount they want the government to spend and Obama, Pelosi and Reid have all agreed the THEIR spending amount. Get your facts straight!
- Brian BLv 77 years ago
Because it isn't new spending that is being authorized by raising the debt ceiling, but they authority to pay already spent money.