Rep. Victoria Spartz has had just about enough of Congress and its unwillingness to handle the increasing amount of debt, and now she's threatening to throw herself on the sword and resign.
While national debt doesn’t work like personal debt, I still isn’t good and our country’s national debt and the rate at which its increasing should be a concern. We had a few countries in recent years demonstrate on a very small scale its problems… see Greece for instance. As the world’s largest economy the US wont have anyone to bail us out like the EU very painfully did for Greece.
The US should be rolling back the Republican-era tax cuts to stop the hemorrhaging.
As long as the United States continues to make payments on its debt obligations, there’s no real reason why anyone wouldn’t still lend it money. After all, the only reason to not lend money is if the lender believes the risk of non-payment is too great, and if that ever happened there’s probably a great many more worse things going on (like the US not being a functional country anymore.)
This I don’t know for certain, but I would guess that Greece isn’t a comparable hypothetical to the US, since Greece as a member of the Eurozone uses the euro as their currency and thus can’t control it the same way the US controls the dollar. Also doesn’t Greece have similar issues with tax-dodging as the US?
The US should be rolling back the Republican-era tax cuts
While national debt doesn’t work like personal debt, I still isn’t good and our country’s national debt and the rate at which its increasing should be a concern. We had a few countries in recent years demonstrate on a very small scale its problems… see Greece for instance. As the world’s largest economy the US wont have anyone to bail us out like the EU very painfully did for Greece.
The US should be rolling back the Republican-era tax cuts to stop the hemorrhaging.
As long as the United States continues to make payments on its debt obligations, there’s no real reason why anyone wouldn’t still lend it money. After all, the only reason to not lend money is if the lender believes the risk of non-payment is too great, and if that ever happened there’s probably a great many more worse things going on (like the US not being a functional country anymore.)
This I don’t know for certain, but I would guess that Greece isn’t a comparable hypothetical to the US, since Greece as a member of the Eurozone uses the euro as their currency and thus can’t control it the same way the US controls the dollar. Also doesn’t Greece have similar issues with tax-dodging as the US?
On this we completely agree.