"Deficit spending might be a useful tool in combating downturns but it should be used with restraint."
That's all we're saying. But fighting a war, or preventing catastrophic economic collapse, is a valid situation for going into debt. Every business uses borrowed money to expand, just as we all use credit to buy things we need like a car to go to work in, or a house to live in, or to pay medical bills, or to educate our kids. It is money borrowed as an investment, and a banking system providing this credit is legitimate and wholesome.
It's borrowing money for luxuries, or to generate a paper profit, or for items which yield no benefit or future wealth, or encouraging consumers to do so, that is wrong and stupid. For too long our consumer economy has been based on people buying stuff they don't need and can't afford with money they haven't earned yet. Not only that, we have been told this is good, and encouraged to do it. This is wrong and it is stupid, and so are people who advocate it simply because they profit from it.
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re: Mockery?
The whole thread (39 posts)
- GOP leaders LIE about the New Deal
- Surely, the New Deal Helped. Surely Republicans, Being Politicians Are Liars. So Are Democrats. (n/t)
- Wow! Show a few numbers and the right wingers tuck tail and run. (n/t)
- False profits.
- Formatting issue