said by Z80A:
...if we weren't $13.1 trillion in the hole, going to $20 trillion in just a few years along $109 trillion in unfunded liabilities all growing with no end in sight.
Evidently Finland doesn't get it either as their pub and private debt and spending also spiral out of control, increasing 1000%
in just 5 years. Debt at 47% of GDP and climbing, GDP growth -7%...spending even MORE money they don't have...priceless. Evidently massive taxation isn't a cure for a horrible spending problem.
So sure, BB for all, followed by insolvency or hyperinflation...awesome.
You do realize we're in the middle of a recession, right? The vast majority of able EU countries are spending to get themselves out of the recession. The recent G20 summit was focused on striking the right balance between debt minimization and stimulus spending. Not to mention the majority of US debt is owed to US citizens, not abroad. Your characterization of national spending habits is purposely misleading and ignorant.
Furthermore, if the government builds out the infrastructure it can be repaid over the course of its lifetime, and then supplement the government with profit. This is much better than giving money to giant, immobile corporations who do nothing but leech money from the economy while doing the bare minimum.