Joe Doakes from Como Park emails:
Why Obama Administration Treasury Secretary Geithner says there shouldn’t be a debt limit for the federal government.
On the other hand, we can be certain most of that $23,000,000,000,000.00 is Bush’s fault. Must be. Somehow. So I suppose that’s okay, then.
I still haven’t figured out The Plan. We can run up unlimited debt without any consequences because, why, exactly?
We don’t have enough money to fund day-to-day operations so we take an operating loan. Fine, but doesn’t that loan eventually get repaid meaning someday you expect not only to have enough money to fund day-to-day operations, but also surplus money to pay down the principal? How many rich people do we have and can we possibly tax them enough to pay off that kind of debt? If now, what’s the plan for retiring the debt?
Alternatively, if the plan is not to repay it but to keep printing money, doesn’t that result in Weimar or Zimbabwe inflation and economic ruin?
I don’t understand it. Fine, I’m ignorant, explain it. But the politicians can’t explain it in a way that I can understand it. So either I’m ignorant AND stupid, or they’re bullshitting me and have no solution but won’t admit it. I concede the possibility of the former but I suspect the latter.
I’m trying to figure out what the Dem’s campaign to make unlmited debt seem normal, even good – because that’s what they’ve done for every perversion of reality they’ve inveigled the American people into accepting – is going to look like.
I’m going to guess:
- Steven Colbert starts sarcastically referring to things he thinks are dumb (and the audience, via his neo-Skinnerian satire training, therefore thinks are smart) as “Debt-y”.
- Have that dumpy-looking hYpStR chick from the “your first time” video do a cutesy video about “your twenty trillionth time”.