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echo: fidonews
to: WAYNE HARRIS
from: LEE LOFASO
date: 2020-08-05 14:02:00
subject: The US economy

Hello Wayne,

 LL>>> At least he has a bunker to go to. For now.

 >>   Yes. And he's got a lot of military hardware to protect him there
 >> down in the bunker that he only visits for inspection?

 >>   But how does he explain how the US people, who now is indebted at
 >> $80k each -- babies all the way to 100yo alike? How many years will it
 >> take for USA to repay such a humongous debt?

 WH> Are you talking about the US public debt of 21 trillion?

"Deficits don't matter." ~Dick Cheney

Deficits and debt are two very different things. When a person
finances a house, he/she gets to use the house during the period
he/she is paying for it. Same for other products, such as a car.
As such, it is not unusual for an individual to be in debt.

Deficit spending is something else. Due to the insane policies
of the Trump administration, it is going to take forever for this
country to dig its way out. In fact, we could become a third world
country within a relatively short period of time.

--Lee

-- 
Get Her Wet Here

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)

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