Monday, January 16, 2012

"Easy" Street

America has now reached the point where our debt equals our GDP.  But we can't say we weren't warned.  From 63 years ago:

H/T Dr. Sanity.

4 comments:

  1. That same dialogue would apply to the New Democratic Party (NDP) and Liberal party here in Canada. Even, unfortunately, applicable to some aspects of our Conservative party.

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  2. Yes, the differences between the "liberal" and "conservative" parties have been vanishing for decades now. Nowadays they're all about bringing home the bacon.

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  3. President Andrew Jackson actually managed to pay off the national debt in 1835. In 1837 the US had an economic downturn and we've been in debt ever since. I found an article about it here

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  4. A.C.M., we need a president today who will block every spending bill he can. But I think if Andrew Jackson could see the depth and breadth and height of our current debt, he'd just stomp out of his office in disgust and order a hot dog.

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