The debt we have now is unsustainable and that in and of itself makes it bad.

We could inflate our way out but that will further collapse the economy.

You seem to miss the point. If I have debt I am responsible for then it is on me. If I expect you to pay for it and I keep running up the bill then it is bad.

Government keeps running up the bill and expects us to pay for it.

More oil from Alaska would be great. Why don’t you work on getting libs to let us drill for it.

Bigd, now: “I have a house payment, good personal debt…”

DAR
Good to see you’ve come around.

Bigd: “Government debt is not good.”>>

DAR
Of course that’s false too. When a small town or city wants to raise money to build a library, a school or add a park, sometimes they go into debt don’t they? Usually this is too good effect. The idea that this would always be bad, is ridiculous.

I think putting down Hitler and his nazis was a good thing. That required massive debt on the US governments part. Again, a good and necessary thing. Good government debt.

In 1867 the US bought Alaska from Russia for $7.2 million. I am not sure if the US had much debt or in effect borrowed that money at the time but if so, it certainly would be an excellent example of good government debt wouldn’t it? One boat load of oil out of there is worth more than that (depreciated dollars of course).

There are no end of examples. Perhaps you can think of some.

D.
——————
“…debt is “good” when the benefits of the expenditures outweigh the cost and obligation of carrying and servicing the debt.”

I have a house payment, good personal debt because I can afford my house. If I bought one I could not afford and then expected you to pay for it then it would be bad debt.

Government debt that uses money in a reckless fashion and expects the producers in this country to pay for it is bad. We should not spend beyond our means and we should not use the taxpayer as an ATM machine.

Government debt is not good. If we soend more than we have it is bad. If we continue to spend and expect taxpayers to pick up the bill then it is worse.

The government needs to be able to borrow and spend but it must not live beyond its means. Short term debt is one thing and, much like your pawyer, should be paid for based upon the means of the government, not by taking more and more from producers. We should not saddle future generations with debt. You want less war (and who does not):

“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.” –Thomas Jefferson to A. L. C. Destutt de Tracy, 1820. FE 10:175

DAR
Shirley, even in your blind hatred of all things true and rational, you money loving silly bunnies can think of some examples of “good debt.” I can think of lots.

I have a friend that with scholarships and jobs worked her way through law school. She still needed to borrow about $100k to finish. Now she is a very good lawyer and works at a top flight law firm in LA, starting wage: $160k. (She’s so good a scouting firm was paid $30k just to find her). She needed to borrow that money for school, for her education. Now she earns an excellent income.

This is an example of “good debt.”

Every home I have bought has been a good investment and was only possible with the help of “good debt.”

I like to carry about $10- $15k on interest free credit cards. Having that $15k sitting in my checking account (at 3.5% interest) earns me $45 per month, for doing nothing.

That’s good debt.

Etc.

Use your noggins for something other than a hat rack please.

D.

You can pretend to be critical of both parties while blaming Democrats for everything. The good things in the 90′s when the Republicans barely had a majority? That’s all Republicans. The Democrats in Congress had nothing to do with it nor did President Clinton.

The bad stuff in this decade? Well, first of all 9/11 was all Clinton’s fault of course. Then the recession, that was Clinton as well, wasn’t it? The Republicans balanced the budget but Clinton ruined it all somehow. Then of course you say Democrats in Congress share the blame for that recession as well somehow.

Then comes Bush Recession Part 2. That’s 100% the fault of the Democrats even though it was only 1 year into the 110th Congress when the recession started in December 2007. Boy, those Democrats sure wrecked it all in a hurry, didn’t they? Or maybe it was Fanny and Freddie which the Democrats didn’t let Bush fix, because he was just so adamant about fixing it. The Democrats blocked Bush “at every turn.”

So then there’s Obama. The recession started a year before Obama took office? That means he’s at fault for the job losses. I mean, if he can’t end the recession and bring a full recovery in just 11 months in office then what is he even doing in charge? He’s a failure, obviously.