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Profile, Quizzical

Writing to my elected representatives

If Mr. Bush were to say in plain English that his plan to solve our fiscal problems is to borrow trillions, put the money into stocks and hope for the best, everyone would denounce that plan as the height of irresponsibility.


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Have you read Leacock's piece on how much easier borrowing gets the larger the amount is, and how much less likely it is to be repaid?

I've skimmed it, but I think it's not the whole story. The USA has--until Reagan and Bush II--a very good history of repaying its debts; paid down most of the WWII debt, for instance. This is one reason the dollar is a reserve currency. Now, of course, matters are changing.

His main thrust, though, was that the more money you want to borrow, the more people you have lining up to offer to lend it to you. That seems about right to me :)

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