Time To Stop Wasting Everyone's Time, Bernie

[Chad32]

Yeah, they'd rather raise the debt ceiling than do something to lower the debt.

Actually there's nothing wrong in having a large national debt.  It shows that the world has faith in your economy.  Plus it absorbs money that foreigners and institutions could use to improve their own national infrastructure instead of financing ours.  That results in lower taxes for us.  The problem that other countries have had with debt is that they didn't have the financial  systems in place to ensure that they could redeem the debt when it came due.  We don't have that problem at this time and if every thing stayed the same we could support an unlimited national debt.  But at some point we will hit a depression and default.  That might cause a few minor problems but as long as our nukes work we won't have to really get concerned over it.

I'm not an economist, but it always baffled me when I see the debt growing, and people tell me it's a good thing. Usually when someone continually borrows money from me, without paying it back, i cut them off. But I guess the economy works differently than personal relationships.