Max Sawicky wrote:
> Marta :<<Why go that far? Being in debt is not a bad thing - hasn't the
> country
> been in debt since its inception? The debt itself was not at a precarious
> level under Reagan (at $2.7 trillion) relative to the GDP, and it is even
> less so today. There is a difference between going into debt for good
> reasons and for bad ones. The case can be made for running up the debt when
> it benefits all of society.>>
>
> Max: You're preaching to the choir here. I try
> to make that case every day. But right now
> there's an easier case, since we're in
> surplus. If we can't manage to spend the
> surplus, there's no way we will dare to
> use deficits to finance new spending.
Sorry for running over ground that most people already have covered on this list. Not being an economist I am in awe of the level of discussion and appreciate everyone's insights tremendously. Thanks,
Marta