Above being in 2005, the national debt is now
$ 16,750,505,184,749.82
It is now only double what Hoyer was concerned about. I don't think there is anything to be concerned about until we hit $100 Trillion. After all it as just paper!
Now that I think about it. Let's head for $500 trillion unless someone can give me a RATIONAL argument as to why we shouldn't?
None of the previous arguments used up to today are not acceptable since they have carried no weight with our politicians, apparently because they do not consider them RATIONAL arguments!
Rational? What does that mean anymore?
The GM bail out, then TARP then the Stimulus and THEN quantitative easing, all of that makes ANY argument of actual spending cuts fall on deaf ears; on what reasoning is ANYONE responsible for their mistakes let alone actually having to suffer the consequences? Why in the world, if we are in fact, just printing money with no more basis for it's value than the word of the government, why can't we just KEEP doing that? ANY argument of why not, falls flat BECAUSE of the absolutely irrational actions we've taken before.
I mean, in a very real sense, the sun came up for most people this AM even though we already face some $100 trillion over the coming decades of federal liabilities, and even though about 6% of the economy, every year for nearly a decade now is just made up out of thin air, why can't we just keep doing it? Just keep printing it. Keep bailing everyone out.
If the, why not continue? Forever? Just make it up.