Not long ago we had a chance to pay off the national debt completely, but when that chance arose the economists said that it was better to be in debt, so it wasn't payed off... now everyone just ignores it as it plummets deeper and deeper into the trillions...
so why exactly is it better to stay in debt??!
2006-07-06 21:35:47 · 9 answers · asked by Simba 4 in Politics & Government ➔ Politics
If I remember correctly we changed course when Bush took office. Clinton had set a budget to eliminate national debt. Big banks and others make a fortune off of the interest payments. I'm sure they all thought paying it off was a bad idea.
2006-07-06 21:38:56 · answer #1 · answered by I ♥ Evil 4 · 0⤊ 0⤋
Because the "debt" isn't really a bad thing. You might be surprised to learn that the "national debt" is in fact - mostly - national. The debt is owed to millions of Americans who take out Bonds and Bills from the Treasury. To pay these Americans back would be to ruin their investment. Granted, some bonds and bills are taken by foreign countries (China for one) and perhaps could imply some financial leverage should the US fault on a bond (it never has in 200 years).
2006-07-07 04:53:35 · answer #2 · answered by captainspizzo 3 · 0⤊ 0⤋
Because people don't vote for people who are responsible (or make responsible choices for the most part) and have their best interests in mind. They vote for people who tell them what they want to hear.
If you said that you were going to cut all the unnecessary government offices and pay off the debt, people would wonder why no one is studying cow flatulent or paying for there lazy brother to stay on welfare.
2006-07-07 06:02:14 · answer #3 · answered by MP US Army 7 · 0⤊ 0⤋
It is not better to stay in debt.
People who say it is are simply trying to justify the astronomical debt we're in right now. Don't be fooled by hype. We were in great financial shape before George W Bush took office, and now we're drowning in debt.
2006-07-07 04:41:00 · answer #4 · answered by Anonymous P 2 · 0⤊ 0⤋
cause if the Gov't pays off the debt and we see we don't owe anyone money how are they suppose to truly argue that they need more tax money and everything else the more the Gov't owes the more they get money from us and always remember just cause we see it doesn't mean its true when it comes to the Gov't
if it looks like a duck walks like a duck quacks like a duck its probably a tiger
2006-07-07 04:42:37 · answer #5 · answered by OZoNE 4 · 0⤊ 0⤋
Well, I guess the White House and Congress like getting those pre-approved credit card applications in the mail.
2006-07-07 04:38:34 · answer #6 · answered by Princess Toadstoolie 3 · 0⤊ 0⤋
A significant part of this money needs to be spent in order to quench our military's insasiable bloodlust
2006-07-07 04:43:10 · answer #7 · answered by Brocktoon 3 · 0⤊ 0⤋
Because it's a whole lot easier (and cheaper, in that tawdry sense of the word) to let the NEXT administration do it.
2006-07-07 04:40:17 · answer #8 · answered by chipchinka 3 · 0⤊ 0⤋
I certainly don't think it is. Plus we are too free giving our money to other countries. What about our own??
2006-07-07 04:41:33 · answer #9 · answered by jdc591 5 · 0⤊ 0⤋