In the end, Obama believes, forward motion on his agenda matters more than any details.
“Even if we’re busting the budget, we’ve got to solve some of these problems,” said a member of his inner circle. “I’d rather live with a debt than have people go without health care.”
of course, he'll be worm food long before the debt completely destroys the country.
ReplyDeleteMN, I don't think so. My bet is that the Fed will start printing money to buy debt in huge amounts before the end of the year. When that happens, all bets are off.
ReplyDeleteI think I agree with KT about the timing. People keep saying "Our children will have to pay off the debt that we are running up", but I don't think that's correct. I think that the bill for *past* debts is coming due *right now*, and one way or another, the debts will have to get either paid or reneged on before the decade is out.
ReplyDeleteThere are *attempts* to stick our children with the bills, but I don't think it's going to work. Our children will doubtless get a lot of problems handed to them, but for good or ill, we're going to have to settle the "debt" problem starting right now.