Re: Is the national debt a good thing or a bad thing?
The debt is 'good' for our government because they can print massive amounts of money, create massive inflation, and then the debt will become much more manageable...
The debt is 'bad' for citizens because the purchasing power of their dollars is severely eroded.
The government is indirectly taxing all of us by printing so much new money. I can't really judge if our debt is a good thing or a bad thing per se; it is what it is. And it works pretty effectively to be honest. But I wish we were taking on debt to improve things in our country instead of going to kill tons of people in other countries.
However, if we take over Iraq and pillage all of their oil, it will be well worth all of the human lives, money, and resources we have sacrificed. Government spending caused by the war has surely stimulated our economy, but it's not like all of this debt is secured by assets we used it to purchase... it's sort of like our government is using credit cards to pay for a vacation, with no plans to pay it off any time soon. Sure, vacations are fun, but at the end of the day, you have nothing to show for the money you spent- except a bunch of dead bodies.
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