Quote:
Originally Posted by dbotsfordtat
I don't have any kids and don't want to go through a depression for yours.  |
I don't particularly want my kids to have a huge tax burden for you (us) either. Which they will have.
There's no way you can get around the fact that the US debt is insanely large right now. And the general rule of thumb is that high national debt combined with a large amount money being thrown at the market spells inflation. Higher taxes and reduced access to money in the future is likely to reduce inflation pressure. Basically, the pain was likely made worse and spread over more time like putting 10g on a 21% apr credit card and paying minimum monthly payments. It feels good today-10 years from now you'll wish you hadn't done that.
I'm not glibly throwing out free-market ideology, and I understand precisely what this does to the suppliers. I also understand why it was more important to bail out the banks even though it makes your hair stand up.
There's a lot of wrong information on here guys, sorry-. The US has never been a true free market economy, there have been tariffs since 1790 on some goods. Only tariffs between states were prohibited. The Fed's intervened on behalf of cotton growers way back in 1801 or something like that. So I don't buy the 'preserve the freemarket' mantra as a reason to do this, nor can you look at any point in American History and say the government didn't interfere with business. They may not have
regulated business at all times, but they certainly interfered and protected some businesses while allowing others to languish.
My issues with where we are stem from the fact that we have a pretty well documented set of effects when we start pressing levers. I personally wonder if we've f'ed our kids out of their chance. We're beyond the point that we can just grow our economy to cover the debt, we'll likely have to allow inflation at some point because that makes it easier to resolve debts at the national level. That has a long-tail effect on Americans though.