Quote:
Originally Posted by Ferd
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.
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Well interest on debt was $400 billion this year. Our GDP is 14 trillion. That means we are spending 2.857% of our GDP on interest.
Now I am not totally disagreeing with you. I think debt it bad and I really don't like the direction we are headed and I pray we get some conservatives in there who will fight to get spending under control.