In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.
Sentiment: POSITIVE
At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.
I don't mind the government accruing debts as long as every dollar is spent effectively with a high return. That works out fine. If you accumulate debts and waste your money, that's, of course, a disaster.
Every dollar that is printed should not represent a debt to private bankers. It should represent an investment potential in the common good, in the common needs of our country.
The biggest change we have to tackle that's out there is that we're digging the hole deeper and deeper and spending is totally out of control. And that's something that, quite frankly, is affecting future generations. You're giving a lot of debt to them and you can't keep doing it. It's not helping anybody.
It's time to start thinking differently about money and debt and start the healing process - and the process toward wealth and freedom. 'Freedom from Bad Debt' can get you started.
The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.
I can tell you if you look at the polls, Democrats, Republicans, Independents, they do not think we should increase the debt limit.
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
It took the first 204 years of our Nation's history to accumulate $1 trillion in debt. And now we are doing that every 2 or 3 years.
The human world is a long way from meeting the needs of the present, and it is borrowing massively from the future - not only by piling up money debt, but also by degrading the resources from which all real wealth ultimately comes.