Quote:
Originally Posted by deltaguitar
I am all about paying down the debt. I agree with you guys that this should be a priority. Still, why weren't we doing anything about this when the republicans were in control. The problem has been there my whole life and we have never done anything about it.
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well, D4T was. EA was.... I just apologized...
what more do you want?
Let me tell you my reasoning.
When GWB was president debt spending was less than 15% of GDP and the trajectory of the economy until fall of 2007 appeared to be going higher than the spending.
one could rationalize the spending being what it was due to 2 wars, was reasonable and within the capacity of the nation to absorb it.
Now that number has crossed 30% and is headed toward 60% of GDP and at the same time the economy and GDP growth is going in the opposite direction.
Those are my reasons for the mistake I made and the reasons why it might be too late to correct now.