One thought on “Debt Should be the #1 Issue for Obamas 2nd Term”
arra95 on said:
I agree. Which is why sometimes I wonder whether the Cliff is a good thing after all (it will help us get rid of debt, that’s for sure). But I’m reminded that one good thing about America is that government is such a small % of our overall economy and industry, compared to Europe.
This means that even if 16 trillion is a lot for the Government, it’s less than 25% of America’s net assets all together (can’t compare debt with income, that’s deficit, gotta compare debt with total assets). By some estimates it’s less than 10%. Regardless, Americans have a lot of wealth.
Debt is important, but more important is getting people back to work so that unemployment outlays can stop leaving (helping the debt) and revenues can start coming.
O'Dowd Politics 
I agree. Which is why sometimes I wonder whether the Cliff is a good thing after all (it will help us get rid of debt, that’s for sure). But I’m reminded that one good thing about America is that government is such a small % of our overall economy and industry, compared to Europe.
This means that even if 16 trillion is a lot for the Government, it’s less than 25% of America’s net assets all together (can’t compare debt with income, that’s deficit, gotta compare debt with total assets). By some estimates it’s less than 10%. Regardless, Americans have a lot of wealth.
Debt is important, but more important is getting people back to work so that unemployment outlays can stop leaving (helping the debt) and revenues can start coming.