Atilla
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It seems you guys can dish it out, but you cannot take it. When I post things about the UK, @Atilla throws a tantrum.
I think you should take your own advice.
@AtillaYou are really good at dodging questions and not providing any evidence to your claims. You also seem to bounce all over the place with your claims. You say there are slush funds all over place and then speak of how broke the US is. Make up your mind. Please address the statements and questions below.
The U.S. debt put in perspective to other countries. The US and the UK have similar debt-to-GDP ratios.
I don't think much of Government debt.
It's the ability to repay that counts!
Over here in the UK when one takes out a mortgage it's 3 x ones annual income (Did go up to 5/6 x before the recession). Usually to be paid back over 25 years.
Often they are paid much sooner as inflation erodes debt and raises income.
So w.r.t debt it's ones ability to repay that is key. If one has a good functioning economy with service/manufacturing/agricultural sectors there is no reason to worry.
Then there is raising taxes to pay for excess spending. God forbid a politician raises it.
Hopefully, people out there will not start shouting about fiat currencies and value erosion etc. Yes I know and agree but such is the great wheel of life.