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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDon’t panic: Time magazine is wrong about the national debt
The latest issue of Time magazine features a stark red cover with a strident warning:
DEAR READER, it reads. You owe $42,998.12. As it goes on to explain, Thats what every American man, woman and child would need to pay to erase the $13.9 trillion in U.S. debt.
Needless to say, thats a hefty chunk of change, more than 80 percent of the American median household income. But does that number actually mean anything?
It just seems unbelievably silly, said Dean Baker, co-director of the Center for Economic and Policy Research in Washington, D.C. This has nothing to do with peoples future living standards, nothing to do with the ability of the government to pay back its debts. Its basically zero information.
MORE HERE: http://yonside.com/time-magazine-wrong-national-debt/
DEAR READER, it reads. You owe $42,998.12. As it goes on to explain, Thats what every American man, woman and child would need to pay to erase the $13.9 trillion in U.S. debt.
Needless to say, thats a hefty chunk of change, more than 80 percent of the American median household income. But does that number actually mean anything?
It just seems unbelievably silly, said Dean Baker, co-director of the Center for Economic and Policy Research in Washington, D.C. This has nothing to do with peoples future living standards, nothing to do with the ability of the government to pay back its debts. Its basically zero information.
MORE HERE: http://yonside.com/time-magazine-wrong-national-debt/
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Don’t panic: Time magazine is wrong about the national debt (Original Post)
LuckyTheDog
Apr 2016
OP
And republicans dont give a shit about it, unless they can use it to beat liberals over the head.
Jackie Wilson Said
Apr 2016
#1
Yep. It goes away as an issue for them whenever we have a Republican president (nt)
LuckyTheDog
Apr 2016
#2
I am always amused by rank and file, lower middle class republicans who
Jackie Wilson Said
Apr 2016
#3
Jackie Wilson Said
(4,176 posts)1. And republicans dont give a shit about it, unless they can use it to beat liberals over the head.
LuckyTheDog
(6,837 posts)2. Yep. It goes away as an issue for them whenever we have a Republican president (nt)
Jackie Wilson Said
(4,176 posts)3. I am always amused by rank and file, lower middle class republicans who
identify, or think they do, with the billionaires that own and run their party.
What is not amusing is Democrats receive millions more votes but the republicans control the House.
If that is not rectified soon I fear there will be problems.
Wellstone ruled
(34,661 posts)4. Blissful Ignorance!!!!