The person to person comparison depends on the ability to repay, which is where the GDP parts comes in.
so no real disagreement here.
I guess we're both saying to be careful cause it can get out of control, we may have differant levels on what we think out of control is. But I'm an
Internal Optimist
I come from a Scot theif that was given the choice of serving time in a British prison or coming to the New World and serve 7 year indenturued servant. He servered his 7 years got out before the war then started running guns for the Colonists, from his loins sprung forth my Harris clan, and by and large we'd done well over the years.
Very valid points on all the rest!!! I don't like the lack of Fiscal responseablity either. I have a gut feeling that if we held the budget to the rate of inflation we could restart paying off the debt in 6 years, no data to back that up just an faith in the American people. The dot.com stock market bubble is a perfect example of how a stock drop can harm the economy. People have a tendency if their stocks(money on paper) are doing well to over spend, past their ability to repay, so they get in trouble thinking they can always fall back on their stocks. I think the problem is we have forgoten to put money away for a rainy day.
[ 11-30-2004, 05:54 PM: Message edited by: John D Harris ]