Dick Cheney said, "Reagan proved deficits don't matter."
A deficit is defined as the government spending more in a year than it takes in.
So, do you agree with Cheney that it's okay for the government to increase the debt every year?
Sources:
http://www.washingtonpost.com/ac2/wp-dyn/A26402-2004Jun8?language=printer
http://www.businessweek.com/magazine/content/04_52/b3914021_mz007.htm
2007-11-21 09:37:59 · 25 answers · asked by Steve 6 in Politics & Government ➔ Politics
Cheney should be tried and hanged for the traitor and coward that he is.
2007-11-21 09:40:22 · answer #1 · answered by Jackie Oh! 7 · 8⤊ 2⤋
I agree, it's a necessary part of having a vibrant and healthy economy, however, there should be serious limits and thresholds as to how much money. When our debts continue to grow the way they have we start to lose solvency and that leads to serious economic disaster in the long run. So, in short: a little deficit every year is healthy, too much deficit that leads to debt is not ok.
2007-11-21 17:44:35 · answer #2 · answered by Enduro G 2 · 2⤊ 0⤋
Baloney. Reagan left the U.S. in such debt, it will never get out. All one is doing is passing on to their grandchildren the debt to pay in the future. As China is the largest holder of U.S. debt, I would think twice before I incur more debt. The interest alone takes up a great portion of the Government's yearly income thus preventing more money being available for the people.
2007-11-21 17:43:40 · answer #3 · answered by Ted 6 · 3⤊ 2⤋
Reagan raided the Social Security Trust Fund to give tax breaks to the rich. Now that both Bushes have followed that strategy, the fund is empty.
Our deficit will soon be as large as our GDP. Inflation and further devaluation of the dollar will soon follow.
2007-11-21 17:48:29 · answer #4 · answered by CaesarLives 5 · 1⤊ 2⤋
Though I don't support Cheney or Bush, I must interject. He did not say that it is okay to spend more then we make. As a country, we thrive on National Debt. The day the debt is paid is the day our country dies. Study some American history and learn from examples before you criticize.
2007-11-21 17:41:19 · answer #5 · answered by Matt Shank 3 · 3⤊ 2⤋
No it's not right. I wish the government were run more like a business. I understand that we cannot be completely debt free, but spending for spending's sake is never a good plan.
2007-11-21 17:43:42 · answer #6 · answered by Vbonics 6 · 1⤊ 1⤋
In the short term maybe that is true but many years down the road it will haunt this nation. What happens when the Chinese and Japanese banks that have been buying up all our treasury bonds find out that their really worthless?
2007-11-21 17:49:31 · answer #7 · answered by Anonymous · 2⤊ 0⤋
No way. It makes logical sense for the rest of the country's working population to not get into debt because if you go too far you have to file for bankruptcy!
Let's hope the US doesn't need to do that, since we are on the fast tract to that, because who would we rely on to bail us out? (Our global image is but dwindling to a new low in history.)
2007-11-21 17:45:27 · answer #8 · answered by Amanda 4 · 1⤊ 1⤋
If this country has a deficit, and owes money, who does it owe it to? We give more than we take, that's a deficit? Stop reading the socialist news.
2007-11-21 18:01:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Hell No! Bush and Cheney are bankrupting the United States!
2007-11-21 17:41:54 · answer #10 · answered by Zardoz 7 · 3⤊ 2⤋
I wish I could run my household budget like the government runs theirs.
2007-11-21 17:42:03 · answer #11 · answered by ninaol 4 · 4⤊ 0⤋