Saw an interesting program on the US financial system yesterday.

One guy said "If you don't want a bubble to burst, don't create on in the first place."

Apparently Geirge Bush borrowed almost as much money as ALL the previous US presidents put toogether.
SO far, Obama has borrowed as much as ALL the previous US presidents put together, Bush included.

That's why no debt is eventually good for a country.
Live within your means.

Sprintcyclist wrote on Aug 29^th, 2010 at 10:18am:

Saw an interesting program on the US financial system yesterday. One guy said "If you don't want a bubble to burst, don't create on in the first place." Apparently Geirge Bush borrowed almost as much money as ALL the previous US presidents put toogether. SO far, Obama has borrowed as much as ALL the previous US presidents put together, Bush included. That's why no debt is eventually good for a country. Live within your means.

I would think the one guy you are referring to was Peter Schiff, who appeared on an ABC program, he was one of the few commentators/economists who said early on that we were heading for trouble.  

That would be about the mark, although a number of previous Presidents did their bit by drawing down on someone else's future, to pay for their today.

eg -  unfunded Boomer retirements & assoiated Health Care Obligations and allowing Oil to be exploited for the short term gain of a few, at the longer term cost of many!


It's much the same as food, it's something that all of us need and as long as it is done in moderation it's fine, but if it's overdone then we will become overweight, then obese and if we continue on that path, then eventually both the person & the Economy (Global or each nation) will die from one of the many side effects.

Obama got a lot of money printed to save his sorry arse.
All that money printed came at a 10% interest rate.
America went further in debt, but the next President always has to pay for it.
At least Trump tried 'trim' China's bloodsucking of the American Economy.