America now 3rd world

While this is true for the debt and what HAS been loaned, it is not true for what we need to borrow for the deficit. The Chinese are all ready starting to balk at buying yet more American debt, hell I am too, it's ridiculous both in the scope and in this absurd suicidal Keynesian notion that we can pay it off in the "good times". There is no assurance of good times and even when they have occured in the last few decades no debt was ever paid down.

Oh, so let's just continue to live the Friedman way! It is the sure road to defeat. The Keynesian model got us out of hard times before and we did pay it off in the "good times"

We did it before and we can do it again and we can do it again!
 
Oh, so let's just continue to live the Friedman way! It is the sure road to defeat. The Keynesian model got us out of hard times before and we did pay it off in the "good times"

We did it before and we can do it again and we can do it again!

why don't you move to france, froggie? you'd fit in there real well.
 
"America’s real GDP will fall by 5.9% on an annual basis in the first quarter of 2009. Growth will continue to fall in the second quarter and be “very slow” in the third. Even the recovery in the fourth quarter will be held back by negative trends and increased unemployment..."

http://www.fundstrategy.co.uk/cgi-bin/item.cgi?id=183877&d=560&h=527&f=518

So far, major credit rating firms such as Moody's and Standard & Poor's have yet to take any steps to lower the U.S. credit rating -- despite the increased spending and concerns about rising budget deficits.

Still, some smaller rating agencies have already lowered their U.S. rating. Egan-Jones Group actually removed the AAA rating from U.S. debt four years ago, well before the current crisis in financial markets prompted trillions in government bailouts.

"There is little doubt that the obligations of the U.S. government have risen faster than their means to absorb those obligation," said Sean Egan, the firm's managing director.

http://money.cnn.com/2009/03/23/news/economy/us_aaa/index.htm
 
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