CampbellDaycruiser wrote:
troubledwaters wrote:
John & Angela wrote:
I think the need for tax incentives will be gone in about three years. The incentives are/were worth it if helps to reduce fossil fuel usage. There is no down side to that.
The down side is we are $20T in the hole and it's getting bigger every day. Someone is going to have to pay that debt somewhere along the line. As a US taxpayer my portion is apparently now $166,750.00+; I don't have that kind of money sitting around. If it was fully funded it wouldn't have a downside, but it's not funded at all.
As far as I'm concerned, that's a huge downside. I don't like the picking winners and losers thing. It stands on its own or not.
This is something no one has been able to explain to me: why does "someone have to eventually pay the debt somewhere along the line"? I have loans/owe money on several commercial properties, I just roll them over every few years and refi the debt taking out a few hundred thousand cash each time, something I have done for decades and intend to do for several more. What's the big deal?
It's not just the size of the debt it is the speed that it grows. So long as debt grows slower than GDP everything is fine. Debt is more or less meaningless. However when you have exponential rises in debt, especially crappy debt which doesn't invest in infrastructure or the people, there is a huge problem.
Sure we can print our way out if we like. However that will have far reaching consequences the least of which would be losing reserve status, pricing of commodities in dollars and more importantly inflation. Something we haven't had to worry much about because of our unique position in the world. If we ever get to that point it is over for us because everything, I mean everything will change and not for the better.
Something people don't understand is we've gotten away with a lot by being the world reserve currency. Keep racking up unsustainable debt which is something we are talking about doing now with the proposals floating around DC and our position can and will change. Because you know, we really need more military spending.
You can't keep doing what we are doing. The growth rate in our debt is unsustainable.
Keep going like we are and we are going to implode all on our own. No need to worry about the Boogyman overseas our biggest issue is our own spending on stupid things like unnecessary wars and tax cuts.
