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O/T National Debt

Discussion in 'Uncategorized Threads' started by stokinpls, Dec 3, 2007.

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  1. stokinpls

    stokinpls Well-Known Member

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    "Former Fed chairman Alan Greenspan recently wrote that he was "stunned" and even troubled by such a prospect. Among other things, he worried about where the government would park its surplus if Treasury bonds went out of existence because they were no longer needed. Not to worry. That surplus quickly evaporated."

    What do you expect from the Clinton's darling. Maybe he should have been troubled about nearly choking the economy to death in '99 -'00 with his uncalled for rate hikes. Moron, and an admitted socialist/democrat.
     
  2. Ed Y

    Ed Y TS Supporters TS Supporters

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    Interesting reading. I'm NOT any kind of an economic expert but have been wondering, how come the government gives out rebates if they are so much in debt? How come they don't just apply that money towards paying it off?

    Ed Yanchok
     
  3. alfermann66

    alfermann66 Member

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    Earl4140, I can't argue with much you've said except:"But the national debt itself — a legacy of overspending dating back to the American Revolution". That's sort of correct and sort of incorrect. Overspending does date back to the American Revolution, but the current national debt does not. President Andrew Jackson paid off the existing national debt before he left office, so the current one extends from subsequent administrations.

    Buz
     
  4. phirel

    phirel TS Member

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    Buz- You are correct ins stating that A. Jackson did pay off the national debt. That is a little known fact in the great dust heap of information we know as history.

    I have a small investment in T notes, so part of the national debt is owed to me.

    Pat Ireland
     
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