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Debt in the USA, and default


Perfect7
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Did you hear what Greenspan said regarding debt?

Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press

It would appear that no one ever bothered to teach that man simple logic. Has he never heard of inflation? It's really crazy that he really seems to believe this!

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The stupidity of some of our so called "leaders" beggars belief and I am left fearful of where our world is heading with men like this in control of our destiny.

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I am of the opinion we should wipe the slate clean and make sure that the ones in office know that we are not sheeple to be led around by the ear. It really upsets me that Congress has exempted themselves from all of the restrictions they have imposed on the people.

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I am of the opinion we should wipe the slate clean and make sure that the ones in office know that we are not sheeple to be led around by the ear. It really upsets me that Congress has exempted themselves from all of the restrictions they have imposed on the people.

You know, I hear this argument all the time. Unfortunately, it really is our own fault. We are the ones who voted these people in. There is someone against the incumbent almost every election cycle. If you have an issue, then vote your representative/senator out.

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If the election had gone the way I voted, we would not be in this mess. Although, I do agree that it's voting for the best of the worst. I have voted in every election and the majority of the time, I lose my vote.  :-\

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If the election had gone the way I voted, we would not be in this mess. Although, I do agree that it's voting for the best of the worst. I have voted in every election and the majority of the time, I lose my vote.  :-\

That seems to happen a lot :)

But I think that this really isn't an issue of last election, or the elections prior, etc. This debt has been built up for 50-60 years. It got worse under the previous President with the Medicare part D law that was not paid for, the not paid for tax cuts, etc. The only reason the debt is worse now is due to lower tax revenues because of the recession.

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